FHA/HUD Appraisal Course And New FHA Appraisal Handbook

[Tejus]

The FHA Handbook 4000.1 appraisal requirements were recently updated. The updates go into effect on Sep 14, 2015.

FHA/HUD offers a free FHA Appraisal training course every so often around the country.

Does anyone know if the current FHA/HUD free FHA Appraisal training course covers the FHA Handbook 4000.1 updates and the impact on the appraiser ?

There is a lot of confusion and conflicting claims in the appraiser user community / educ vendor classes on what exactly the 4000.1 appraisal updates mean and the impact on the appraiser. FHA/HUD need to clarify this.

I've requested FHA/HUD provide a webinar video explaining the updates and make this available for viewing. I'm waiting on a response.

buene suerte.

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UPDATE: I received a response from the FHA/HUD staff on the FHA/HUD Appraisal course.

The question asked was (I had to ask twice to get an answer):

Does the course address all the 4000.1 appraisal requirement updates ?

There is a lot of confusion and conflicting claims in the appraiser user community on what exactly the 4000.1 appraisal updates mean and the impact on the appraiser.

It would be very helpful if FHA could provide a webinar video explaining the updates and make this available online whenever an appraiser has time to view.

The FHA/HUD staff answer was:

We will discuss the significant changes resulting from the new handbook, but that is not the primary focus of the course.

Unfortunately, it looks like the FHA/HUD staff will gloss over the changes and give the same course presentation they've been giving for years which describes the FHA/HUD history, organization, etc.

The FHA/HUD appraisal course needs to spend more time addressing the updates and related issues and less time on the FHA/HUD history, organization, etc.

 

[Mr Rex]

• MODULE 3A: Appraisals (Recorded on 4/2/15): Discusses the Property Acceptability Criteria for FHA mortgage insurance under this section and details on the Minimum Property Requirements (MPR) and Minimum Property Standards (MPS). Webinar/Module duration: 31 minutes. Course materials.Registration and Access to archived version.
  

 

[Elliott]

What are the new photo requirements?

 

[Tejus]

I'm primarily interested in the new appraiser inspection requirements and liability.

This has been discussed in other threads and there is confusion/disagreement on the new FHA requirements.

Examples:

http://appraisersforum.com/forums/threads/FHA-changes.208013/

http://appraisersforum.com/forums/threads/FHA-inspection-requirements-vs-state-law.208422/

 

[Mr Rex]

What are the new photo requirements?

About 1:08 into the webinar.

 

[CANative]

Spend the weekend reading the darn thing.

 

[normando]

Did FHA today just extended to October? With so much confusion over new FHA, FHA needs to clarify better what is expected because less appraisers will be taking their assignments. I am surprise E and O insurance not commenting on new FHA requirements.

 

[CANative]

RTFH

 

[Tejus]

RTFH

The issue is the handbook says one thing, and there are articles/threads/classes stating the appraiser can do something else. This is primarily related to the inspection, i.e. attic, appliances, utilities, water pressure, etc. This creates huge liability issues for the Appraiser, i.e. handbook says do it but someone else told me I didn't need to.

For example, to perform a new attic inspection the appraiser will need to crawl thru the attic to see the entire attic. Very simple attic designs may allow the appraiser to view the entire attic without crawling thru the attic. I expect very few (if any) appraisers will crawl thru an attic to inspect the entire attic. Some articles/threads/classes are claiming that you don't need to inspect the entire attic, even if the handbook says you do.

FHA needs to clarify the appraiser's responsibilities (see the original post).

If FHA wants the Appraiser to follow the handbook word for word, then the FHA appraisal fee will skyrocket due to the additional work and liability. I've estimated FHA appraisal fees starting at $1,500 to meet the new FHA requirements. When FHA staff realize this, they will either scale back the Appraiser inspection requirements or accept the appraisal fees will be much higher.

 

[Meandering]

If it aint in black and white, it aint so.

Live by that one.

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