FHA 3.6

[Tom4value]

Got my first 3.6 order! I do it on Monday. Yay, me! It is FHA! I have a question. Will FHA allow “non appraiser” photos of comps? Not an issue now since I can’t download MLS photos yet from my software so I will take them anyway. I just want to know if they will accept them.

 

[glenn walker]

Do you have an engagement letter ? even if FHA will some lenders have stricter overlays. There is no black and white answer.

 

[NJ Valuator]

FHA removed original comp photo requirement a year ago. See Mortgagee Letter 2025-18. An individual lender, however, could still require originals.

Also, if you do not mind sharing, what percentage increase in your regular 2.6 FHA fee?

 

[Tom4value]

FHA removed original comp photo requirement a year ago. See Mortgagee Letter 2025-18. An individual lender, however, could still require originals.

Also, if you do not mind sharing, what percentage increase in your regular 2.6 FHA fee?

Really? Good to know. Thanks. I am still "old school" and take the photos, anyway.

For this one, $0. I didn't know it was 3.6 until after I got the order. To change my fee would require them to redisclose to the borrower and would require a delay and a headache. This is a good client and I don't mind doing this one time.

To answer your question, I am doing a $50 increase. I am also asking my clients what other appraisers are charging. May be more based upon feedback but for now, I don't want to "catch a falling knife" and price myself out.

 

[NJ Valuator]

Really? Good to know. Thanks. I am still "old school" and take the photos, anyway.

For this one, $0. I didn't know it was 3.6 until after I got the order. To change my fee would require them to redisclose to the borrower and would require a delay and a headache. This is a good client and I don't mind doing this one time.

To answer your question, I am doing a $50 increase. I am also asking my clients what other appraisers are charging. May be more based upon feedback but for now, I don't want to "catch a falling knife" and price myself out.

ok thanks for the feedback.