Fha home appraisal requirements 2020
[DOCX File]1. Minimum Property Requirement Procedures
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Appraisal is Not a Home Inspection. ... the appraiser must describe the requirements in the appraisal report. b. Repairs Required by a Local Authority. If the appraiser is aware of any repairs that will be required due to local code enforcement, for example, the removal of unpermitted improvements, the appraiser must prepare the appraisal ...
[DOC File]Chapter 11
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3. VA Appraisal Requirements. Change Date October 1, 2008 Change 8. This section has been changed to update subsection a to provide instructions for completing the borrower field in the appraisal report form and to make minor grammatical edits. a. General Requirements Every VA appraisal must: name VA as the client on the appraisal report form,
[DOCX File]US REO P
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Fannie Mae LL-2020-04. Freddie Mac 2020-5. Appraiser Resource Page. On Friday, the FHA published their Mortgagee Letter, which offers similar guidance for allowing desktop appraisal reports and exterior-only appraisal reports to uphold social distancing requirements. FHA 2020-05
[DOC File]HUD | HUD.gov / U.S. Department of Housing and Urban ...
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Domestic Well from Property Line: FHA will recognize state/local distance requirements provided that the well is not within 10 feet of any roadway or the property line of other than a single-family residential property, i.e., the well cannot be within 10 feet of a commercial, industrial, or multifamily building.
[DOCX File]FHA and VA Originations Guide
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(the lender approves FHA mortgages without sending the mortgage to FHA), the designated appraiser sends the appraisal directly to the lender and the lender issues the appraisal. Appraisers approved by FHA are said to be on the HUD Appraisal Roster. In 2009, FHA added a requirement that all HUD appraisers had to hold state licenses.
For Desktop Appraisals Using COVID-19 Temporary ...
Modified Set of Instructions, Scope of Work, Statement of Assumptions and Limiting Conditions, and Certification for Desktop Appraisals. For Desktop Appraisals Using COVID-19 Temporary Flexibilities and Reported on Fannie Mae Form 1004, 1073, 1025, 1004C, or 2090
[DOC File]Mortgagee Letter 99-
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MORTGAGEE LETTER 2003-07 . TO: ALL APPROVED MORTGAGEES. ALL FHA ROSTER APPRAISERS. SUBJECT: Prohibition of Property Flipping. On May 1, 2003, the Department of Housing and Urban Development published a final rule in The Federal Register amending the mortgage insurance regulations to prevent the practice of flipping on properties that will be financed with Federal Housing Administration (FHA ...
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COVID-19 APPRAISAL FLEXIBILITIES ANNOUNCED On March 23, 2020 the Federal Housing Finance Agency (FHFA) directed Fannie Mae and Freddie Mac to provide alternatives to satisfy appraisal requirements through May 17, 2020.
[DOCX File]QUALITY CONTROL PLAN CHECKLIST FOR LOAN …
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The Mortgagee must maintain and update its QC Program as needed to ensure it is fully compliant with all applicable FHA requirements at all times. The QC Program must cover the lifecycle of an FHA-insured Mortgage, including origination, underwriting, closing, endorsement, and servicing functions that are conducted by the Mortgagee.
[DOC File]COMPLIANCE CHECKLIST
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Home Inspection/Lead Paint (pages 1-2) if applicable [Can be found in FHA forms not in point] _____ 26. Additional Compliance Sheet Required for FHA, VA, &/or Illinois.
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