Any Change In FHA Appraisal?

[moh malekpour]

Haven’t done any FHA for last 2 years, I am getting a little rusty these days and just got an FHA order that I don’t want to turn it down. I was wondering if there has been any change in VC or any new guideline for appraising condo that I many have missed in last 2 Years.

Thanks,

 

[Jo Ann Meyer Stratton]

There are new VC and Home Buyer's Summary sheets. See examples in the FAQs.

 

[moh malekpour]

Thanks Jo Ann;

Manufactured housing is the only change I saw added to notice to the homeowner. Since I am doing condo, I supposed my old form without that line suffices. I know that if I wanted to do manufactured home, I had to have that one and form 1044c that I don’t have it either but I hardly do manufactured homes.
By the way, the requirement for FHA case# prior to appraisal or at least delivery is still in place or not. I got the order without a case#.

Thanks

 

[Pamela Crowley (Florida)]

Moh,

DO NOT use the older forms. If you need a new ones, download them or I'll send them to you in unlocked .pdf format.

 

[moh malekpour]

Thanks Pamela;

I got an unwanted order from a client who didn’t let me know that assignment was for FHA. He sent me the order with a check over night and now is weekend and I have to wait till Monday to get back to him and I said since I don’t have much to do, I would do it. I looked at VC 5 and it is similar to old VC 4 with a little different wording on top and new date on the bottom.
Are you sure they will enforce those tiny change now as they changed it on August 03 and most appraisers haven’t upgraded their software’s yet. If so, please email them to me at momalek@msn.com

and do you that I still need to get the case number first? It used to be!

Thanks,

 

[Pamela Crowley (Florida)]

I'll email the unlocked .pdf forms to you.

YES, you should get the FHA case number first. FHA has stated that you don't NEED it before you start the appraisal, but you MUST have it before you finish it. I insist on a copy of the assignment from FHA that states I'm the selected appraiser.

Keep asking the questions here as they come up. We'll help you get through this.

 

[Jo Ann Meyer Stratton]

The 1004C form for manufactured homes is only required by Fannie Mae. It is not applicable to FHA. The 1004C form can be used for a Freddie Mac loan if the appraiser does not have the Freddie Mac form 70B. They are almost identical. I am not a VA appraiser, but I would assume the 1004C would not be required unless the appraiser wanted to provide it for additional supporting data.

And yes the new VC sheet is required--so check with your software vendor as you will need the new HUD forms for any future FHA orders.

 

[EDWARD BERRY]

Me thinks you will need to answer EACH section, even CONDO and MFH sections even it is n/a.

Will know for sure after Jan 21.

ed