92541 Question

[Todd Sandifer]

I was recently contacted by the fine folks at FHA regarding the HUD form 92541. After 13 years of appraising, I had never heard of this form before. They requested that I attend a continuing education FHA class which I did. While in the FHA class, I asked all the participants how many were using the form, and of 14 other FHA appraisers, NONE of them had ever heard of the form before either, much less used it. Therefore, I don't think I'm alone here. I have literally completed many hundreds of new construction FHA reports over the years and have NEVER been provided this form by a single lender.

After having taken the FHA class, I started requiring the form from the lender. At first, it was merely an inconvenience, but after several weeks, I noticed that they had stopped sending me work altogether. Upon contacting them, I was informed that I had been removed from their list approved appraiser list completely, as no other appraisers on their list were requiring the form and that the delays in complying with my request was causing them too many issues. Subsequently, I had the supervisor at FHA contact the bank to explain that the form was indeed required. They agreed to reinstate me to their fee panel about 6 weeks ago, but I still am receiving NO WORK from them. What recourse do I have if any? I am being punished for complying with the rules set forth by FHA, who is not enforcing them across the board and in the end I have effectively lost my biggest client due to no fault of my own.

Any input is greatly appreciated.

Todd Sandifer

 

[RSW]

The 92541 form has always been required for new construction or proposed construction. Read the Homeownership reference Guide concerning Construction and new Homes:

1. Appraisals/Appraisers: The lender must
provide the appraiser with the following documents. If not provided return the
incomplete appraisal to the lender:
1. Builder's plans, specifications and construction documents
2. The lender should provide a complete set of the approved plans and
specifications the builder submitted to the local building authority to obtain
the building permits.
3. In the event the property is located in a jurisdiction that does not approve
plans then the following documents are required:
4. Completed Builder’s Certification (Form HUD-92541) signed and dated no
more than 30 days prior to the date the appraisal was ordered.
5. All reports and available information (i.e. sales agreement, title report,
environmental reports or studies and inspection reports).
Note: Appraisers must receive a fully executed Form HUD-92541, Builder’s
Certification of Plans, Specifications, & Site, before performing the appraisal on
proposed, under construction or less than one year old properties. Appraisers must
review Item 1 on the form and note in the Appraisal Report any discrepancies
between the information in Item 1 and the actual conditions observed on site. The
lender is responsible to address any yes answer in Item 1.

 

[Mike Kennedy]

1. HUD- 92541 - U.S. Department of Housing and Urban...
   portal.HUD.gov/HUDportal/documents/HUDdoc?id=92541.pdf
   Instructions for Builder's Certification, form HUD-92541 Item 6. When the whole CABO Code is used as the HUD referenced code in jurisdictions with “no code” or an ...
   
   
2. Builder's Certification of Plans, Specifications...
   portal.HUD.gov/HUDportal/documents/HUDdoc?id=DOC_16707.pdf
   HUD U.S Department of Housing and Urban Devlopment . Author: Belk, April Created Date: 20100510162541Z ...
   
   
3. Fillable Form HUD- 92541 Fill Online, Printable,...
   www.pdffiller.com/100101198-92541pdf-Fillable-Form-HUD...Cached
   Fill Fillable Form HUD-92541 portal instantly, download blank or editable online. Sign, fax and printable from PC, iPad, tablet or mobile. No software. Try Now!
   
   
4. Document Updates: Builders Certification – HUD- ...
   www.docutechcorp.com/...certification-HUD-92541-cx3971Cached
   Form HUD-92541 is required by various rules promulgated by FHA, in connection with construction properties (see, for example FHA Single Family Handbook 4145.1
   
   
5. FHA New Construction form HUD- 92541 |...
   • appraisersforum.com
     
   • › …
   • › FHA/HUD and VA
   I am getting ready to do an FHA appraisal on a new construction property. As of today, construction is 100% complete. Am I still required to get a signed copy of the ...
   

 

[Todd Sandifer]

The 92541 form has always been required for new construction or proposed construction. Read the Homeownership reference Guide concerning Construction and new Homes:

1. Appraisals/Appraisers: The lender must
provide the appraiser with the following documents. If not provided return the
incomplete appraisal to the lender:
1. Builder's plans, specifications and construction documents
2. The lender should provide a complete set of the approved plans and
specifications the builder submitted to the local building authority to obtain
the building permits.
3. In the event the property is located in a jurisdiction that does not approve
plans then the following documents are required:
4. Completed Builder’s Certification (Form HUD-92541) signed and dated no
more than 30 days prior to the date the appraisal was ordered.
5. All reports and available information (i.e. sales agreement, title report,
environmental reports or studies and inspection reports).
Note: Appraisers must receive a fully executed Form HUD-92541, Builder’s
Certification of Plans, Specifications, & Site, before performing the appraisal on
proposed, under construction or less than one year old properties. Appraisers must
review Item 1 on the form and note in the Appraisal Report any discrepancies
between the information in Item 1 and the actual conditions observed on site. The
lender is responsible to address any yes answer in Item 1.

Thanks for your response. I have no doubt that the form is required. My real question pertains to how the lender can ban me from their approved appraiser list for requiring this form, when FHA is requiring it from me? Secondly, FHA is clearly not requiring the report from the vast majority of other appraisers as nobody I have contacted locally has ever heard of the form either. I am being held to a different standard that my peers and it is costing me dearly!!!

 

[CindyR]

Thanks for your response. I have no doubt that the form is required. My real question pertains to how the lender can ban me from their approved appraiser list for requiring this form, when FHA is requiring it from me? Secondly, FHA is clearly not requiring the report from the vast majority of other appraisers as nobody I have contacted locally has ever heard of the form either. I am being held to a different standard that my peers and it is costing me dearly!!!

that sure sounds like an awful mess. have you talked to the HOC? I haven't done an FHA in years but I recall they used to be very helpful and responsive.

 

[RSW]

Sounds like a conference call between You, HUD, and the Lender is necessary. I had a problem with an appraisal several years ago. I called the Atlanta HOC and filed a complaint. The HUD Rep. got Me, Them, and the MB on a conference call and it was settled immediately.