Monday, January 29, 2018 / by Sean Zanganeh
Check out these very important FHA regulation changes.. These will have an increasing effect on the market place. Take a look and let me know how you feel about these new rules.
FHA changes their roster of appraisers Oct. 1st
All FHA rostered appraisers are required to be state certified. Some states offer a licensing program for appraisers as well as a certification program. Many licensed appraisers were FHA rostered. As of today, October 1st 2009 state licensed appraisers can no longer complete FHA reports:
January 1st 2010 the FHA will have appraisal ordering guidelines similar to the HVCC
In a recent mortgagee letter FHA / HUD announced they will have appraisal ordering guidelines similar to the HVCC. The FHA has always prohibited pressuring and influencing an appraiser to inflate values and/or disregard repair requirements, "FHA is reaffirming these requirements."
The mortgagee letters go on to discuss appraiser's geographic competency, AMC's, and a list of "Appraiser Independence Safeguards."
Remember the end of November is the LAST chance to qualify for you $8,000 tax credit! Call to schedule an appointment today to find your next home!
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