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The New FHA Guidelines

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BODEPHUS

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Junior Member
Joined
Jul 18, 2013
Professional Status
Certified Residential Appraiser
State
Texas
Hey AF-

Does anyone have any good commentary to replace this verbiage for the new handbook?

This is an FHA appraisal which complies to all HUD guidelines noted in the handbook 4905.1 and 4150.2. The subject property also complies with all guidelines and minimum property standards set forth in the HUD handbook 4150.2 and all applicable mortgagee letters (2005-02, 2005-48, 2005-34, 2009-09). INTENDED USER - per HUD handbook 4150.2 - Appendix D, the intended user of an FHA appraisal report is the lender/client and HUD/FHA.

From our understanding, the Resource center in Colorado says you don't have to place this in the report-but almost all lenders we work with require it..

Any good verbiage?
 

CANative

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Jun 18, 2003
Professional Status
Certified Residential Appraiser
State
California
"The intended use of the appraisal is solely to assist FHA in assessing the risk of the Property securing the FHA-insured Mortgage (24 CFR § 200.145(b)). FHA and the Mortgagee are the intended users of the appraisal report. The FHA Appraiser does not guarantee that the Property is free from defects. The appraisal establishes the value of the Property for mortgage insurance purposes only."

There is nothing preventing the appraiser from making the statement that there are no conditions requiring repairs or inspections and that the property meets HUD/FHA Minimum Property Requirements (or MPS as the case may be.)
 

RSW

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Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
I will be using some thing like this:

The subject property currently meets HUD/FHA's minimum property requirements per handbook 4000.1 and other applicable HUD/FHA publications.
 

CANative

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Joined
Jun 18, 2003
Professional Status
Certified Residential Appraiser
State
California

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Certified Residential Appraiser
State
California
IMO a statement is still expected/required despite what the contractors in Colorado say.

FHA the appraiser must state 4000.1.JPG
 

Digger88

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May 11, 2010
Professional Status
Certified Residential Appraiser
State
Virginia
This is an FHA appraisal which complies to all HUD guidelines noted in the handbook 4000.1. The subject property also complies with all guidelines and minimum property standards set forth in the HUD handbook 4000.1 and all applicable mortgagee letters). INTENDED USER - per HUD handbook 4000.1, the intended user of an FHA appraisal report is the lender/client and HUD/FHA.
 

CANative

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Jun 18, 2003
Professional Status
Certified Residential Appraiser
State
California
Here it is again in the 4000.1

FAH the appraiser must state 4000.1 2.JPG
 

CANative

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Jun 18, 2003
Professional Status
Certified Residential Appraiser
State
California
This is an FHA appraisal which complies to all HUD guidelines noted in the handbook 4000.1. The subject property also complies with all guidelines and minimum property standards set forth in the HUD handbook 4000.1 and all applicable mortgagee letters). INTENDED USER - per HUD handbook 4000.1, the intended user of an FHA appraisal report is the lender/client and HUD/FHA.
Minimum standards refers to new or proposed construction.
 

CANative

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Jun 18, 2003
Professional Status
Certified Residential Appraiser
State
California
Here is another "The Appraiser Must State"

FHA appraiser must state insurable.JPG
 

nottrav

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Joined
May 2, 2011
Professional Status
Licensed Appraiser
State
California
"The intended use of the appraisal is solely to assist FHA in assessing the risk of the Property securing the FHA-insured Mortgage (24 CFR § 200.145(b)). FHA and the Mortgagee are the intended users of the appraisal report. The FHA Appraiser does not guarantee that the Property is free from defects. The appraisal establishes the value of the Property for mortgage insurance purposes only."

There is nothing preventing the appraiser from making the statement that there are no conditions requiring repairs or inspections and that the property meets HUD/FHA Minimum Property Requirements (or MPS as the case may be.)

Above reply is perfectly worded.

In addition, on page 1 I state property meets FHA MPR (or MPS) as outlined in handbook...
 
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