From FHA to Conventional . . .

[Doug Bennett]

Folks,

I'll start my question by admitting that in my 20-plus years of appraising, I have never run across this scenario . . . which is why I don't know the answer.

The Original assignment was for a 1004/FHA back in July. Inspection completed, report submitted "Subject to" due to flaking paint on several exterior windows (pre-1978 construction) and a "short" overflow pipe on the water heater.

The request for a 1004D came across my email this morning with an "oh, by-the-way" request to change the Loan Number - this time with a NON-FHA loan number associated with it.

So, while I know FHA will not allow a change to an original Case Number without it being a "new" assignment (requiring another "current" inspection date), is that also the case for Conventional Loans (can I change an Original FHA Case Number (071-) to a non-FHA Loan Number w/o requiring a "new/current" re-inspection?).

Please forgive an Old Guy for perhaps sounding like a total noob, but I am willing to expose my lack of total knowledge as I am more interested in not doing the wrong thing for the sake of either my client or myself.

Thanks very much and my best to all,

Doug in Delaware

 

[BRCJR]

New assignment. SOW is different from original assignment. Possibly using the same Effective Date.

I don't think it common to put loan numbers in Appraisal Reports. I am a lender and have never seen that as a request.

 

[Terrel L. Shields]

I'd tell them that it is a new assignment (so you should add a cert page or attach the report to the D.) If all they want is the 1004D, then I'd just say they could accept the original as is, and just not mention the loan number on the 1004D.

 

[Dublin ohio]

New assignment. SOW is different from original assignment. Possibly using the same Effective Date.

I don't think it common to put loan numbers in Appraisal Reports. I am a lender and have never seen that as a request.

For the most parth true. But I have a couple of clients that request I put the loan# on the report.