FHA Short Sale

[Mr Rex]

After you guys are done patting each other on the back, maybe you'd like to post the FHA link that states that even though it's FHA order (replete with a FHA case number), the appraiser doesn't have to follow FHA guidelines. And then state what guidelines the appraiser has to follow after that, please.
Thanks!

Start on page 546.

 

[BRCJR]

It makes a huge difference...if the appraiser was hired by the existing mortgagee for the intended use of evaluating the value of the collateral in order to determine whether or not they will approve a short payoff of the mortgage, then the appraisal can and most certainly should be performed "as is" as it would not be an origination appraisal but is being utilized by the servicer for purpose of determing whether or not to accept the short payoff.. I don't know whether or not that is the intended use of the OP's appraisal, but it is a pertinent question.

How and why would a FHA case number be involved in that scenario?

 

[timd354]

Ok, so which case number is it?

 

[timd354]

How and why would a FHA case number be involved in that scenario? Intended User is not FHA in that case, is it?

An existing FHA mortgage that is being short paid has its own FHA case number

 

[timd354]

Did you take my suggestion to review those FHA guidleines for PFS and CWCOT deals? The "FHA guidleines" are not the same for all assignments. Its all right in the 4000.1. You only have to look.

Obviously he did not since he apparently knows everything that there is to know

 

[BRCJR]

Where does the OP state that she has a FHA case # and even if she does, is it the FHA case # for the existing loan that is being short paid or is it the case # for a new origination?

post 6

 

[residentialguy]

I do agree that we need clarity from the OP as to whether this is a FHA Pre-Foreclosure Sale or it's a purchase with FHA financing.

Do they give a case number to the appraiser for a PFS???

 

[Mr Rex]

READ THE OP: This is a short sale. Short sales are distressed private HO sales. The buyer is financing thru FHA with a FHA case number and the lender ordered a FHA appraisal from a FHA appraiser.

Really? Where does it say that?

 

[Mr Rex]

You might want to stop posting and read the pages I noted, unless you want to be seen in the same light as a certain JG from FLA that doesn't know when to shut up when found wrong....

 

[residentialguy]

What are you talking about? I agreed that we need clarity from the op