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Same FHA Case #, new borrower?

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Betty H Church

Junior Member
Joined
Oct 20, 2006
Professional Status
Certified Residential Appraiser
State
Nevada
I prepared an FHA appraisal for the purchase of a home 2 months ago and the borrower backed out. There were repair issues. I've been asked to do an FHA appraisal for the purchase of the same home, and again by the same lender/client. The FHA Case #'s are the same. I know this is a new assignment, new file, new research and new fee. I haven't seen the new purchase contract yet, but will shortly.

My question is, is it only the FHA Case # that stays with the property for six months and not the borrower's information? Next question, what kind of ramifications, if any, could occur with FHA having two appraisals from the same appraiser within a 2-3 months period with different values - which will most likely be the end result due to the decline still being experienced in the subject's market?

Would appreciate any and all opinions/advice.
 
FHA appraisals have a life of 6 months unless the original loan request closed. This is not a new assignment.

The lender can use your earlier appraisal as is. Do not change your original report. The most I would consider would be an additional comment added to your original report.
 
Thanks Mr. Tipton. I appreciate the time and trouble you took to upload the pdf files.
 
You can't do the second appraisal with the same case # as Michael has provided sources as to why. The 1st appraisal has to be used by the second borrower and a check has to be sent to the first borrower noted on the appraisal report. No changes can be made to the appraisal by the appraiser.
 
This is what I received from FHA regarding changes to an FHA appraisal...I thought changes were not allowed on an FHA appraisal.....

Thank you for contacting the FHA Resource Center, a response to your inquiry is
provided below. If you have additional questions you can submit them via email
to info@fhaoutreach.com or contact us at 1-800-225-5342. Please do not respond
to this email unless you need further clarification or wish to initiate a new
service request.

FAQ : When a case number is transferred with a complete appraisal, may a new
appraisal be requested?

Solution Details : FHA does not require the appraiser to transfer (as defined by
USPAP) the appraisal, change the name of the client/lender, or the name of the
borrower on a FHA appraisal. When a case number is transferred, and the
appraisal has been completed and is still effective, the new lender may request
the appraiser to change the name of the client/lender, or the name of the
borrower on a FHA appraisal however, such a request becomes a new assignment and
the appraiser would be required to prepare another appraisal to comply with
USPAP. FHA will allow the appraiser to make no other changes or revisions to the
appraisal report or value conclusion when the new assignment involves a transfer
of an FHA case number.

DISCLAIMER: All policy information contained in this knowledge base article is
based upon the referenced HUD policy document. Any lending or insuring decisions
should adhere to the specific information contained in that underlying policy
document.
 
This is what I received from FHA regarding changes to an FHA appraisal...I thought changes were not allowed on an FHA appraisal.....

Thank you for contacting the FHA Resource Center, a response to your inquiry is
provided below. If you have additional questions you can submit them via email
to info@fhaoutreach.com or contact us at 1-800-225-5342. Please do not respond
to this email unless you need further clarification or wish to initiate a new
service request.

FAQ : When a case number is transferred with a complete appraisal, may a new
appraisal be requested?

Solution Details : FHA does not require the appraiser to transfer (as defined by
USPAP) the appraisal, change the name of the client/lender, or the name of the
borrower on a FHA appraisal. When a case number is transferred, and the
appraisal has been completed and is still effective, the new lender may request
the appraiser to change the name of the client/lender, or the name of the
borrower on a FHA appraisal however, such a request becomes a new assignment and
the appraiser would be required to prepare another appraisal to comply with
USPAP. FHA will allow the appraiser to make no other changes or revisions to the
appraisal report or value conclusion when the new assignment involves a transfer
of an FHA case number.

DISCLAIMER: All policy information contained in this knowledge base article is
based upon the referenced HUD policy document. Any lending or insuring decisions
should adhere to the specific information contained in that underlying policy
document.


I like the way they word this sentence. FHA will allow the appraiser to make no other changes or revisions...

Just what are they saying? Are they saying the will allow some changes or are they saying they will not allow any changes? Hummmm!
 
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