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New Contract Date And FHA Case #?

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spittman

Senior Member
Joined
Oct 24, 2005
Professional Status
Certified Residential Appraiser
State
Texas
What reasons would a property get a new case #.
A fellow appraiser has been asked to update the case # as well as the contract date on an FHA appraisal he did early part of this month, but the contract date is after the effective date. Is this a problem? He feels it should be a new assignment with a revisit to the property.
Maybe the answer is simple and I'm just confused by the New FHA Case #. From what I understand, once a property is assigned a case number, it follows the property regardless if the lender/buyers change. I would think it would be the same case for the contract date too.
So would you just change the contract date and case # or treat as new assignment?
 
case numbers can be updated by a new lender, but not for every reason if the effective date doesn't change some of us will just update, while the USPAP-ers will say new assignment. some will say do nothing. depends on your love of your client. never hurts to ask for mo money & do a new one. discounted fee.
 
case numbers can be updated by a new lender, but not for every reason if the effective date doesn't change some of us will just update, while the USPAP-ers will say new assignment. some will say do nothing. depends on your love of your client. never hurts to ask for mo money & do a new one. discounted fee.

From the way I understand it, only corrections can be made for case information but the number stays the same and stays with the property even if the borrower or lender changes. In this case, the lender is the same. The only thing that changed was the contract date. Why would that cause the lender to apply for a new case number? A different loan type??? Hopefully my colleague got a copy of the application for the case number or some type of document that would CHA.

EDIT:

Also isn't it still the policy for the lender to order the appraisal after the case number is assigned [or is it the other way around]? If that is the case with the original appraisal, that would mean the appraisal would be invalid for FHA right making this one a new assignment with new effective date???
 
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