Whats the FHA rule

[Couch Potato]

Case number is not my problem. I often wait for the case number to submit the report. Had one last month that took 2 weeks to get a case number. I don't know if the delay was with lender, borrower, or whomever but I do not require a number before I will perform appraisal not do I require them to send me the assignment sheet. I report the case number they tell me has been assigned. Why add more complexities to the assignment?

Often? How about ALWAYS. HUD regulations require the case number be on the report before it is delivered to the lender.

I will gladly take an order without a case number. Under the right circumstances I will even inspect a property without a case number. Actually complete an appraisal and write the report without a case number, never.

 

[sbb04]

I would like to chime in with a 2nd question. I have the case #, go do the inspection (condo). get back to the office and find out that the project is not on the apprroved list. I notify lender and they say their in process of getting it approved. Should I just make it subject to approval? what are your thoughts?

To be brief-yes.

 

[sbb04]

I have inspected the property and completed the report. I have requested a case # from the lender on multilple occasions now and have been told it is coming. So the borrower calls me and says the lender told her he has not been able to get a hold of me (lie). I inform her that I have completed the assignment and am just awaiting a case # from her lender so I can send it in. I have collected funds, and completed the assignment, howver I can not transmit the report without the case #, any advice? If I do not get a case #, do I have to refund the money, since I cannot deliver the report? I completed the report last Saturday so this has been brewing for about a week.
I thinl in the future I will have to have a case # before I proceed. Me a quick learner

My attitude is if they never give you a case number then you've done a conventional appraisal and of course you keep your fee.

 

[Couch Potato]

Never collect a fee from a home owner for an FHA appraisal without having a case number. If the lender never give you a case number, you cannot complete the report. You would need to return the fee to the homeowner. An appraiser cannot magically transform the order to one for a conventional loan. If you have not delivered an FHA report, you have not earned the fee. You might be owed some money by your client, but not by the homeowner. An appraiser would be in an indefensible position in court or before an appraisal board.