FHA Lowering Requirements

[TerryRohrer]

I believe you are still required to inspect it and add a statement.

I was under the impression that the requirement for a statement had been eliminated some time ago?

 

[Non Sequitur]

I was under the impression that the requirement for a statement had been eliminated some time ago?

The required "head and shoulders" language was removed, still have to state yes/no deficiencies observed.

 

[Trihard]

When do the changes go into effect?

 

[jay trotta]

The minimum standards. If you really want to be a professional, you aren't satistified delivering the least that you can get by with.

Many years ago, IF you saw a problem, repair etc - you brought that to their attention, along with photo's providing support. The modernization of appraising (Word Salad) is a gathering of americana language used by non-professionals to promote job security. It lacks boots on the ground experience

 

[HVNY]

Starting to see these again.

 

[Zoe]

I think it is time for licensed residential appraisers to be able to complete a loan when FHA is involved, again.

I do not do any residential work, it will not impact me, but it is a ship that should be righted.

Never made any sense that a newly certified residential could do FHA related appraising but a 25-year licensed seasoned appraiser could not, just due to the stroke of a pen (congress ignorance).

You are probably almost old enough to remember when an appraiser had to apply to be on FHA fee panel. I am older than dirt. I remember and FHA fees pretty much set the market for a professional appraiser on single family especially. It didn't matter to FHA at the time whether you went conventional or FHA or wherever. It is not my points.

One point is FHA had fees set that professionals were willing to accept and were negotiable.

Second point is under that system; FHA has money in the game and knows it.

Third point is the market structure changed, and appraisal management companies got involved.

I probably have more points.

 

[Zoe]

I have done work for HUD on commercial and residential properties. FHA does insure some mixed use and multi family use properties.

HUD is tied on some multifamily properties because of rent subsidies.

That is like right now rural hospitals are going crazy and many people on SNAP are going crazy on people losing their healthcare plan and people on SNAP.

Many rural hospitals will have to close. People will have to go a long distance to get healthcare.

Many hospitals depend on govt healthcare and many families depend on snap.

Health insurance companies are at the root of much of this.

However, I don't know why FHA ever dropped their fee panel.

 

[Lil Rhody]

When do the changes go into effect?

They went into effect at the time of the ML being published.

 

[Dublin ohio]

You are probably almost old enough to remember when an appraiser had to apply to be on FHA fee panel.

You still have to "apply" but the qualifications were "reduced".

 

[NJ Valuator]

Has anyone received any pushback from client's or AMC's when abiding by the new protocol i.e. not taking crawl space or attic photos, etc.