Good FHA link

[CANative]

http://www.HUD.gov/offices/hsg/sfh/ref/chap1.cfm

Lot's of easy to find stuff to answer many of the questions that get asked on the forum almost daily.

 

[Randolph Kinney]

http://www.HUD.gov/offices/hsg/sfh/ref/chap1.cfm

Lot's of easy to find stuff to answer many of the questions that get asked on the forum almost daily.

Thanks Greg.

 

[imhere]

Please note, the section "Expiration of Appraisals" is not accurate.

The contents of the linked documents were current as of October 12, 2007. This is a good general point of reference, but always check for the document date and all subsequent Mortgagee Letters for additional clarifications. A few quick searches on the HUD site should net most answers for typical questions.

 

[Edwin Farr]

FHA verbiage in a Conventional appraisal allowed?

I was asked by an AMC to put all the FHA/HUD verbiage about intended users and minimum property standards in a conventional appraisal "incase their client changes their financing" baseically they demanded an FHA appraisal with no FHA case# on it. I had never been asked to do this before. Is this allowed?

 

[CANative]

I noticed your name is not in the ASC's National Registry. Are you a trainee Edwin?

 

[Edwin Farr]

Yup, says it on the Right of the post. Taking my exam in April. My supervisor dosent know the answer either.

 

[CANative]

You're question was not really that surprising from a trainee. That's why I asked (the user "status" in not always correct.) But your response to my question was disturbing because your supervisor didn't know the answer to this fundamental and really very basic issue and now your taking the exam to become licensed next month without having been trained properly.

The answer is no, you can't put in "FHA verbiage" in case the client changes their mind about the loan program. The scope of work and intended use/intended users are not the same between GSE and FHA. Intended use and intended users are identified at the beginning of an assignment and are necessary to determine and execute the scope of work.

Read USPAP (up to the end of Standard 2) today and several more times before taking your test.

 

[Edwin Farr]

Oh, I have been reading a ton. I only started assisting on FHA's recently. Before that Conventionals was all I did. I knew that it was not kosher but just did not know what to reference when refusing their request. Standard 2, now I know. Thanks

 

[CANative]

I knew that it was not kosher but just did not know what to reference when refusing their request. Standard 2, now I know.

No. That's not quite correct either.

 

[Edwin Farr]

Then, pray tell you, enlighten me... You just said to read Standard 2 so I assumed that would contain the information I was looking for. Look, I did not come on this forum to get ridiculed. I am looking for information so I can become better educated and a good appraiser. The whole point to these forums is to do just that; exchange information for the betterment of the business. If all you have is insults to give then dont post anything at all.
If anyone else would be gratious enough to help me out I would be very grateful. Ill never ignore advice or information (though I may take it with a grain of salt). But dont just say that "your wrong" and then offer no information to correct it.