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FHA Case Numbers

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Wastewaterman

Thread Starter
Freshman Member
Joined
Dec 2, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
I have recently been FHA approved. I am trying to find out if the FHA case number has to be put onto my appraoisal reports? If so, does the lender provide this information on the engagement letter? Any help would be great.

Thanks,
Wastewaterman
 

Jo Ann Meyer Stratton

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Arizona
Yes, the case number has to be placed on your appraisal report. Do not release the report to the client until they provide you with the case number.

Also remember there are two intended users of your report--the lender/client and FHA. There are also two intended uses of your report--to the assist the lender in evaluating the subject property for a mortgage transaction and FHA to determine if the loan can be insured or not.

Read the National Homeownership Center Reference Guide, Mortgagee letters 2005-34 and 2005-48.
 

Wastewaterman

Thread Starter
Freshman Member
Joined
Dec 2, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
Thank you

Thank you for the quick response.
 

Greg Bell

Senior Member
Joined
Jul 7, 2006
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Louisiana
Better to always have the FHA case number BEFORE you inspect the property.
 

J in Florida

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Florida
A trick some of them used to use was order a couple of appraisals, the first one that hit the number got the case number and got paid. Do what Greg said.
 

Proactive

Senior Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Washington
I don't delay inspection of an FHA assignment any more than I would a conventional one. FHA issued a Mortgagee Letter some time ago stating it is no longer necessary for the appraiser to wait for the case number before inspecting. It is however, necessary to have the case number on the report before delivery.

From Mortgagee Letter 96-18 April 16, 1996
Appraisals Completed before Case Number Assignment. CHUMS has been modified to accommodate appraisals that are assigned or completed before the FHA case number is assigned. This revision stems from several realities of the marketplace. First, under extreme time pressures, we do not believe that an appraisal assignment should be delayed until such time as the case number is assigned, even if that is only a few days such as what occurred during the recent government shutdown. Second, financing does not always start FHA but rather may move into that category for various reasons. We do not believe borrowers should be forced to pay for another appraisal or even a "re-type" fee.

From a risk management standpoint, we recognize the possibility of "value shopping" and will take appropriate measures should a lender be discovered engaging in such practices. Similarly, we will also take action if it is determined that real estate brokers are mandating the use of particular appraisers to the lender. The lender remains responsible for assuring that the appraisal adequately supports the value reported. The mortgage must also close within prescribed time limits determined by the date of the appraisal.


If I don't have confidence in my client to pay me, I collect the fee up front.
 
Last edited:

TJSum

Elite Member
Joined
Nov 12, 2007
Professional Status
Certified Residential Appraiser
State
Maryland
Steve, what happens if you CAD from the HO during the inspection, and then for one reason or another the lender can not provide the case number. I know it is FHA policy to allow inspections prior to receiving the case number, but for several reasons (explained on other threads the past week) it is good business practice to wait for the case number before proceeding.
 

Wastewaterman

Thread Starter
Freshman Member
Joined
Dec 2, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
What If ?

I don't delay inspection of an FHA assignment any more than I would a conventional one. FHA issued a Mortgagee Letter some time ago stating it is no longer necessary for the appraiser to wait for the case number before inspecting. It is however, necessary to have the case number on the report before delivery.

From Mortgagee Letter 96-18 April 16, 1996



If I don't have confidence in my client to pay me, I collect the fee up front.

I got paid by the homeowner. If the client can not or does not provided me the case number do I owe the homeowner a refund? I have completed the report and did do the inspection. Any thoughts ????
 

TJSum

Elite Member
Joined
Nov 12, 2007
Professional Status
Certified Residential Appraiser
State
Maryland
That is the major problem I mentioned earlier, if the case number never arrives, what happens when the HO calls you asking for their money back with threats to go to HUD or a lawyer?

Most likely though, when you remind the lender that you have the report done and are just waiting for the case number, they will ask what did it come in at, or were there any repair issues, etc?
 

Thomas Fiehler

Senior Member
Joined
Jun 2, 2003
Professional Status
Certified General Appraiser
State
Ohio
Wasterman-It does not matter who pays you, the client is the lender. If any refunds are to be made, and if the report is completed, then the lender should refund the money (IMHO).
 
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