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FHA Review Request

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Joe Milla

Junior Member
Joined
Feb 13, 2007
Professional Status
Certified Residential Appraiser
State
Massachusetts
I've been asked to do an FHA review. Not that familiar FHA assignments, but have seen that an FHA # should be supplied with assignment. Does this hold true also with a review assignment. TIA

Joe
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
How can you do an FHA review if you are not familiar with FHA assignments? Are you on the FHA roster? I would also think that you would have to be on the FHA roster in order to complete the review as well. I was contracted with HUD/FHA in 2000 -2001 to do desk and field reviews. You may still be able to do the review if the SOW is to only give your opinion on the contents of the appraisal under review in terms of USPAP compliance or about comparable sales used. I don't see how you could do a review of an FHA appraisal to establish if its complies with the FHA SOW if you are not familiar with the FHA handbook 4150.2, Revised Appendix D, and the Mortgagee Letters 2005-34 and 2005-48. We need more information about your experience with FHA to really know.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I concur...should be FHA approved to do an FHA review. I would decline the assignment.
 

TC

Elite Member
Gold Supporting Member
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
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