FHA Report Supplemental Form

[JTip]

A disclaimer before I ask: I do not want answers to a test I cannot take because I am a trainee. I do not intend to submit an application before I am Certified +3 years experience, I have a mentor, no comp checks, so on and so forth....just curious...

Question:

When doing an FHA assignment, say a purchase for a single family home, would you use a standard 1004 form and a supplemental HUD 92564-VC? I see in our software there are 5 HUD forms, one review, one multifamily, one compliance inspection (completion?) and two VC (dated 1999 and 2003). Looking over the VC 2003 version, it seems to follow Appendix D. So a 1004 + this form = an FHA appraisal?

Yes, I would like to take the class in the future. I cannot do 7 hours in front of a computer and really don't want to fly to Texas to take the class. I hope Don Paul will offer it in my area in the future.

Thank you for your friendly answers..

 

[Mr Rex]

The VC forms were eliminated when FHA adopted the new Fannie forms in 2005. See Mortgagee letters 2005-34 and 2005-48 for the significamt changes to FHA protocol including the retirement of the VC sheets.

 

[Marcia Langley]

J,

Also, all of the main FHA forms were revised in March 2005 and the handbook was revised in the fall of that year and a few times since. Always be sure you are using the most current guidelines by going directly to the source, www.hudclips.com.