Trainee/FHA

[stevem]

Take it easy on me. Reading these forums makes me appreciate how much I need to learn about the appraisal business.

Anyway, my supervisor is an FHA approved appraiser. I think he knows the answers to these questions but he told me to try and find the answers on my own. All part of the training process I suppose.

I've read in the forum that a trainee can't perform the inspection w/o supervision. True?

Can I complete the rest of the assignment and have it count as part of my training?

Can a trainee work with a licensed appraiser on FHA or is certification required of the supervisor?

I've looked all over the HUD website and in the manual and I can't find any info so figured I'd ask the experts.

Thanks for the feedback.

 

[Kevin Mc]

All FHA appraisals are to be performed by FHA approved appraisers only.

 

[Couch Potato]

The HUD regulations require the appraiser to be on their roster and require the assigned appraiser to complete the report.

An appraisal performed for HUD/FHA purposes requires that all sections of the appraisal form be addressed. The appraiser must complete the form...

I would think you could provide some assistance in gathering information, but there is no way to do enough work for it to qualify for experience points and stay within the HUD rules.

 

[stevem]

Thanks for the feedback. I appreciate it.

 

[Wendy]

Stevem -
Even if you can't get credit, do go along and gain some personally experience in how FHA is done.

Good luck!

 

[Jalexi]

"Can I complete the rest of the assignment and have it count as part of my training?"

NC allows up to 20% of your appraisals to be demonstration appraisals( no client), if your mentor is agreeable why not tag along on his/her FHA inspections and produce your own demo report.

 

[Couch Potato]

That is an excellent suggestion given how slow things are at this time.

 

[Lobo Fan]

This is one of the great weaknesses in the FHA program. All too often, the first exposure to an FHA appraisal is the first one the appraiser has ever performed. The learning curve for FHA can be quite steep. There are a lot of little details and nuances that are best learned thriugh experience. Yet that experience is not allowed under the rules.

It is going to get real interesting as these hordes of appraisers and lenders try to bring their unethical ways into the FHA world. I wonder if FHA is increasing their review staff to correspond with all these new people?

 

[stevem]

"Can I complete the rest of the assignment and have it count as part of my training?"

NC allows up to 20% of your appraisals to be demonstration appraisals( no client), if your mentor is agreeable why not tag along on his/her FHA inspections and produce your own demo report.

Thanks J Lewis-

I'm aware of the demo appraisal option. I've been doing them for several months now while things are slow. Getting them by word of mouth. Everyone wants something free -- even appraisals.