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Changing a Report from FHA to Conventional?

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Snail

Thread Starter
Freshman Member
Joined
Aug 4, 2007
Professional Status
Certified Residential Appraiser
State
Florida
I completed an FHA assignment a few weeks ago. Yesterday I received an email from the client requesting I change the appraisal from FHA to Conventional. Would it be USPAP compliant if I get a new order from the client, create a new work file, remove the intended user "FHA" from the scope of work, and have a new signature date? I would not be reinspecting the property; the effective date would stay the same. I would state in the scope of work that the effective date was the original date of inspection.
Any guidance is very much appreciated.
 

Couch Potato

Elite Member
Joined
Mar 15, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
I completed an FHA assignment a few weeks ago. Yesterday I received an email from the client requesting I change the appraisal from FHA to Conventional. Would it be USPAP compliant if I get a new order from the client, create a new work file, remove the intended user "FHA" from the scope of work, and have a new signature date? I would not be reinspecting the property; the effective date would stay the same. I would state in the scope of work that the effective date was the original date of inspection.
Any guidance is very much appreciated.
I do hope your status line is just out of date. Trainees are not allowed to do FHA appraisals.

It is a new assignment and should be treated as such. The effective date and scope of work are certainly things you can negotiate with your client, but be sure your report is not misleading.
 

Snail

Thread Starter
Freshman Member
Joined
Aug 4, 2007
Professional Status
Certified Residential Appraiser
State
Florida
Out of date.

Thats correct my status line is out of date. I have put in a request for change of status.
 

David Dietz

Member
Joined
Oct 30, 2006
Professional Status
Certified Residential Appraiser
State
Florida
I believe you would be ok as long as the client and buyers are staying the same. It sounds like the borrowers have simply changed loan types and the client needs the scope changed so that the intended user does not list FHA/HUD. If this is the case what you described sound fine. New assignment, order, file number, workfile and new invoice for your time if you so desire which I am sure you do.
 

David Dietz

Member
Joined
Oct 30, 2006
Professional Status
Certified Residential Appraiser
State
Florida
Hey snail,

Are you really as slow as a snail or is it a play on your speedy 24hr turn times?:new_smile-l:
 

larryrebecca

Freshman Member
Joined
May 14, 2004
Professional Status
Certified General Appraiser
State
Texas
FHA Number

When you change the report what becomes of the FHA number?
 
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