FHA Electronic Appraisal Delivery (EAD) Portal

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Use of the Electronic Appraisal Delivery portal will be required for all FHA-approved mortgagees, effective for FHA case numbers assigned on or after June 27, 2016.  Mortgage Letter 2015–08  published on March 26, 2015, provides more information.

FHA’s EAD portal is a web-based technology system that enables electronic transmission of appraisal data and reports to FHA by FHA-approved mortgagees and/or their designated third-party service providers prior to loan endorsement.

Features

The EAD portal’s system messages provide real-time feedback on compliance with FHA appraisal data and report requirements. The portal leverages industry data standards and industry appraisal practices, and:

  • Offers process efficiencies inherent in an electronic data submission.
  • Implements industry standard data formats developed and maintained by the Mortgage Industry Standards Maintenance Organization (MISMO).
  • Reduces error rates before endorsement by identifying many appraisal data and compliance issues up front.
  • Eliminates most paper-based FHA reviews of appraisals, thus improving turn-times.
  • Offers role-based access and functionality, with specific user and administrator roles that control use.
  • Reduces redundancies by linking data submitted through the portal to data in the FHA Connection (FHAC) system, including auto-population of the FHAC Appraisal Logging screen.

The EAD Overview fact sheet below provides more information on the features and benefits of the portal.

Electronic Appraisal Delivery Portal – EAD Overview

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2 Responses

  1. Jeremy Hall Appraisals - Colordo Jeremy Hall Appraisals - Colordo says:

    Welcome to appraisal impossible. HUD reo appraisers know all about this. “If it’s not on the list of items I can check, you can’t call it a repair condition.” Apparently if a separate unit MIL does not have a stove actually present, even though it may have a stove plug in, it’s not really an MIL. Who knew? When the bureaucrats demand more, the independent contractors charge more. FHA fees just went up.

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  2. Wayne says:

    I am not sure if FHA fees just went up. I am sure that the number of FHA approved appraisers who are willing to accept their assignments just went down! As of December 2014 there were 78,800 actual appraisers. Of this number 89.4 percent held a certification (required by FHA). A total of 51% of appraisers are between the age of 51 and 65 with 11% being over 66 years old. I personally do not see this age group crawling around under houses or thru the attics. All of these new rules and procedures demanded by FHA will be received with just a yawn by most appraisers my age. Appraisers my age will most likely have a client base that will allow them to simply refuse FHA work. For many of us retirement is anytime we choose! If Fannie Mae, FHA, AMCs, etc. just keep this crap up a little longer they will be doing these appraisals by themselves!

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