Category: HUD

XML MISMO UAD appraisal 0

VA Appraisals Must be in MISMO XML

VA Announces Electronic Appraisal Requirements: Appraisals must be in MISMO XML Effective June 1, 2014, all Department of Veterans Affairs (VA) appraisals will be processed in WebLGY under the VA Appraisal Management System (AMS). Therefore, beginning June 1, 2014, all VA appraisals must be uploaded in WebLGY in Mortgage Industry Standards Maintenance Organization (MISMO) compliant XML 2.6 GSE file format as VA will no longer accept appraisals uploaded in WebLGY in PDF format. Prior to June 1, 2014, VA appraisals must continue to be uploaded in WebLGY in PDF file format. Historically, VA appraisal form/formats conformed to appraisal industry form/format...

Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac / Federal Housing Administration / FHA

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New Appraisal Requirements for REOs

The U.S. Department of Housing and Urban Development will require new appraisals on some real estate-owned properties financed by the Federal Housing Administration, Mortgage Daily reported Dec. 10. Historically, when buyers of REO properties utilized FHA financing they had been able to use the appraisal originally ordered by HUD. However, the updated requirements will require new appraisals in situations where a direct endorsement underwriter decides there is a material deficiency in the original HUD REO appraisal. HUD also will require new appraisals in the instance of an “as-repaired” appraisal being used when a borrower is applying for a 203(l) loan....

AI / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations / Appraisers News

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Mortgage Fraud – Trends and Schemes

In last month’s edition of the AppraisalPort newsletter, I covered some of the appraisal guidelines that were discussed at the National AI Connect Conference in Indianapolis, July 23-25, 2013. This month, I want to discuss another session that dealt with mortgage fraud. I learned a lot about how people are trying to get rich through fraud in this very interesting breakout session. The session, “Residential Mortgage Fraud Enforcement: Trends and Identifying Schemes,” included presentations from Housing and Urban Development’s (HUD) Special Agent Eric Mascari, Interthinx’s Ann Fulmer, and Gary Crabtree, SRA, owner of Affiliated Appraisers. The session focused on the...

Appraisal / Appraisal News / Appraisers News / Federal Housing Administration / FHA / HUD

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Appraisal Guidelines

In the August edition of the AppraisalPort Newsletter, I reported on some of the general information covered at the National AI Connect Conference in Indianapolis, July 23-25, 2013. This was a great conference, covering a wide range of topics. This month, I want to pass on some information covered in one of the breakout sessions for residential appraisers. The session was titled, “Residential Chief Policy Roundtable” and included presentations from Fannie Mae’s Robert Murphy, the Appraisal Institute’s Bill Garber, HUD’s Ada Bohorfoush, and the VA’s Gerald Kifer. At Fannie Mae, Murphy handles many of the issues regarding appraisers and the...

AI / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations / Appraisers News

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Free Webinar on How to Review an FHA Appraisal

On September 11, 2013, the Federal Housing Administration (FHA) is offering a 90-minute webinar on How to Review an FHA Appraisal using the FNMA 1004, and how to review appraisals on more difficult property types; e.g., manufactured homes, 2 to 4 Units, Condominiums, and New Construction. How to spot potential fraud, the condominium approval process, and the common appraisal deficiencies will be covered. This webinar is designed for appraisers, underwriters, loan officers, processors, brokers, agents, any interested parties, and any individuals new to FHA. Registration is required. No Fee. Please hold on to the e-mail you receive after you register,...

Appraisal / Appraisal News / Appraisers News / Federal Housing Administration / FHA / HUD

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Free Webinar on FHA Appraisal Requirements – Property Type

On August 28, 2013, the Federal Housing Administration (FHA) is offering a 90-minute webinar on FHA Appraisal Requirements. Webinar will cover: The lenders and appraisers responsibilities as it relates to FHA guidelines The marketability and value of the property and information about “For Your Protection Get a Home Inspection” Minimum Property Requirements Minimum Property Standards Appraisal Protocol This webinar is designed for appraisers, underwriters, loan officers, processors, brokers, agents, any interested parties, and any individuals new to FHA. Registration is required. Please hold on to the e-mail you receive after you register, you will need it to access the webinar....

Appraisal / Appraisal News / Appraisers News / Federal Housing Administration / FHA / HUD

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Free Webinar on How to Review an FHA Appraisal

On May 29, 2013, the Federal Housing Administration (FHA) is offering a 90-minute webinar on How to Review an FHA Appraisal using the FNMA 1004, and how to review appraisals on more difficult property types; e.g., manufactured homes, 2 to 4 Units, Condominiums, and New Construction. How to spot potential fraud, the condominium approval process, and the common appraisal deficiencies

Appraisal / Appraisal News / Appraisers News / Federal Housing Administration / FHA / HUD

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Free Webinar on FHA Appraisal Requirements

On May 22, 2013, the Federal Housing Administration (FHA) is offering a 90-minute webinar on FHA Appraisal Requirements. Webinar will cover: Lenders and appraisers responsibilities as it relates to FHA guideline Marketability and value of the property and information about “For your Protection Get a Home Inspection” Minimum Property Requirements

Appraisal / Appraisal News / Appraisers News / Federal Housing Administration / FHA / HUD

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Free FHA Webinar on FHA Appraisal Frequently Asked Questions

The Federal Housing Administration (FHA) is offering a webinar on March 20, 2013 on FHA Appraisal Frequently Asked Questions (FAQs): March 20, 2013: – Webinar: This FREE Webinar training will provide clarification to current Underwriting Hot Topics, Insuring/Eligibility Issues and Frequently Asked Questions (FAQs) in today’s FHA lending environment. Topics covered will include: FHA Updates including most recent

Appraisal / Appraisal News / Appraisers News / Federal Housing Administration / FHA / HUD

FHA FAQs Update 0

FHA Updated Valuation Protocol FAQs

FHA Updated Valuation Protocol FAQs Revised 01/24/13 FHA has updated the Valuation Protocol FAQs posted on the FHA Appraiser Roster web page. The most recent FAQs can be found on page 27 of the document and provides clarification for what constitutes an acceptable conventional heating system. You can periodically review the FHA Appraiser Roster web page for alerts on recently published Mortgagee Letters of interest and other pertinent announcements. The publication contains the following topics: New Construction Wood Destroying Insects/Termites Utilities – Well and Septic Inspections & Certifications Cost Approach Accessory Dwelling Units Manufactured Housing Two Unit Properties HECM Appraisals Lender...

Appraisal / Appraisal News / Appraisers News / Federal Housing Administration / FHA / HUD

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