Favorite FHA/HUD Appraiser Links

I would like to share with you some of my favorite FHA/HUD appraiser links.

Before I do, here is the latest Mortgagee Letter that was put out on November, 18,2009 concerning Second Appraisal Reporting Requirements.

Mortgagee Letter 2009-48:

- HUD is eliminating a previous policy that required a second appraisal to be performed for loans that exceed $417,000 that were noted by the appraiser to be in a declining market.

- FHA will no longer require second appraisals on cash out refinances.

- FHA's new policy requires a second appraisal when a property is resold between 91 and 180 day's following the acquisition by the seller, if the resale price is 100 percent higher than the price paid by the seller when the property was acquired.

Your Charlotte NC Appraiser Favorite FHA links:

A must read Mortgagee letter http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/05-48ml.pdf

Frequently Asked Questions: http://www.hud.gov/offices/hsg/sfh/appr/aprval.pdf

Answers on sewer, attic, power lines, repair conditions, etc.: http://www.hud.gov/offices/hsg/sfh/ref/chap1.cfm

The main place for FHA appraisal guidelines: http://www.hud.gov/offices/adm/hudclips/handbooks/hsgh/4150.2/index.cfm

Use the Table of Contents for a quick search.

Here is a PDF link to Appendix D: Valuation Protocol: http://www.hud.gov/offices/adm/hudclips/handbooks/hsgh/4150.2/41502appdHSGH.pdf

If an appraiser, mortgage broker or real estate agent is ever concerned or needs clarification, the best way to solve the problem is to call the local HOC office. Here is their number: 1-800-225-5342.

Appraiser Union County NC

Appraiser Charlotte NC