VC form

[Tom Woloshin]

I have not done an FHA appraisal for a number of years. However, I recall including the VC form in the appraisal report. The question is: Is the VC form to be a part of the appraisal report? Or, it just a guide for the inspection and then the results to be summarized on the appropriate form (1004 for example)?

 

[CANative]

Have you downloaded ML2005-48 with the the attachment and read it yet?

VC sheets have been retired. You need to get back up to speed with the revised Appendix D to 4150.2.

 

[Lycabull]

Upon implementation of the four revised Fannie Mae appraisal reporting forms,

form HUD-92564-VC, Notice to the Lender (Valuation Conditions/VC form), and form HUD-92564-HS, Notice to The Homebuyer (Homebuyer Summary) will be retired and are not to be submitted as part of an appraisal valuation package. Upon elimination of these two forms, all valuation conditions, including repairs, alterations and/or required inspections, must be reported within the appropriate section of the applicable Fannie Mae appraisal reporting form.

http://www.HUD.gov/offices/adm/hudclips/letters/mortgagee/05-34ml.doc

http://www.HUD.gov/offices/hsg/sfh/ref/sfhp1-8d.cfm

http://www.HUD.gov/offices/adm/hudclips/letters/mortgagee/index.cfm

 

[Don Clark]

Have you downloaded ML2005-48 with the the attachment and read it yet?

VC sheets have been retired. You need to get back up to speed with the revised Appendix D to 4150.2.

Good advice.

I use the VC Sheet, minus the flat roof inspection requirements, as a guide.

 

[Tom Woloshin]

Thanks guys. I am reviewing 4150.2 now. I will do what Don is doing, using the VC sheet as a guide.

 

[RSW]

Pay close attention to Revised Appendix D and Mortgagee letter 2005-48.