Help Please ! FHA compliance inspct tranfer

[ugot2bkidding]

I have completed an FHA appraisal 04/02/2008 and compliance inspection 05/06/2008. The appraisal was transferred to a new lender no changes were made. Now second lender wants me to change lender names on the compliance report dated 05/06/2008 to them. They did not get the tranfer from lender one till 05/28/2008. It is my understanding the original compliance would be transferred with prior appraisal. Help if not what is required?

 

[Marcia Langley]

You are right. tell the second lender they have to get the compliance report from the first lender through FHA Connections. If the first lender failed to log it in, the second lender needs to tell the first lender to get it logged in so they can transfer it to the second lender.

This is not your problem. If they continue to bug you, call your HOC and ask them if the completion report is logged into the system. If it's not, the first lender needs to do it.

I guess it's possible that the first lender may have failed to log it in and then lost it. If that is the case, the only thing you can do is re-send it so they can take care of it.

You never change the name on a completed report.

 

[TJSum]

I am currently discussing the FHA name transfer with a lender, and also the fact that reports can not be changed or redone for six months (except for a correction). Does anyone have a quick link to exactly where these guidelines are written so I can send it to them to keep them quiet I saw the lender transfer link, but can not find the six month time frame link...

 

[Michael Tipton]

2-9 TERM OF APPRAISAL.​

A. Term. The appraisal has a term of six months for existing construction and 12 months for proposed construction. However, if the appropriate HOC determines that soft market conditions exist in certain areas or markets, it may shorten the term of appraisals for proposed construction and substantial rehabilitation to a period of less than 12 months upon advance notice to lenders. The term of the appraisal begins on the day the home is inspected by the FHA appraiser and this date appears on the URAR.​

 

[TJSum]

Thank you Mike, you da man !