Tagged: HUD

Real Estate Appraisers Warned us About the Crisis but We didn't Listen 2

Appraisers Warned Us but We Didn’t Listen

Federal actors could have responded to the appraisers’ warning and prevented the crisis On July 9, 2013 I participated in a radio interview with a lobbyist for the 100 largest financial firms. The San Francisco radio program host asked me what question I would ask the lobbyist and I said that any discussion should begin with allowing him to state his view of what caused the crisis. In the course of his explanation, he bemoaned the fact that there was no warning about the crisis. I found this ironic because I had just published that morning an article about how the...

Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac / FDIC / Petition

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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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Free FHA Webinar for Appraisers on Property & Appraisal Frequently Asked Questions

The Federal Housing Administration (FHA) is offering a webinar on January 22, 2013 on Property & Appraisal Frequently Asked Questions (FAQs): January 22, 2013: – Webinar: Property & Appraisal Frequently Asked Questions (FAQs). This FREE introductory webinar addresses the most common questions FHA receives from underwriters and appraisers on single-family property-related issues. The topics covered include: flipping, appraisal validity period,

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

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AI Asks HUD to Withdraw Section 8 Provision Eliminating Appraisals

The Appraisal Institute and the American Society of Farm Managers and Rural Appraisers issued a comment letter July 16 in response to the U.S. Department of Housing and Urban Development’s proposed rule on regulatory changes to their Section 8 Voucher Program. The rule proposes to eliminate an existing requirement that an appraisal be used to determine initial rent contracts to a Section 8 building owner. HUD cited a “lack of availability of state-certified appraisers” and “increased expenses in order to acquire state-certified appraisers” as the reasons for eliminating the appraisal requirement. In their joint letter, AI and ASFMRA asked HUD...

AI / American Society of Farm Managers and Rural Appraisers / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations

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Differences Between Neighborhood and Market Areas & Analysis

Neighborhood is broad and general in nature… When examining appraisal reports, it is commonly noted that the Neighborhood section of the 1004 appraisal report contains data for sales of properties that are comparable and competing to the subject, rather than for sales of all homes of the same category (i.e., single family detached). Professional appraisal reference works, such as Appraising Residential Properties, 4th Edition (published by Appraisal Institute) address the differences between a “neighborhood” and a “market area.” Further, various Fannie Mae selling guides and announcements, and the HUD 4150.2 handbook contain guidance for appraisers regarding the analysis of neighborhood...

1004MC / AI / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations

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FHA Updated Valuation Protocol FAQs

FHA Updated Valuation Protocol FAQs Revised 02/28/12 FHA has updated the Valuation Protocol FAQs posted on the FHA Appraiser Roster web page. The most recent FAQ 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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2012 FHA Webinar Training for Appraisers

The Federal Housing Administration (FHA) is offering appraisal webinar and seminar training in January and February 2012 for seasoned and new real estate appraisers: January 17, 2012 – Property Inspection Requirements for FHA Appraisers: Have you ever thought, “Am I in compliance with HUD requirements if I do not inspect the subject’s attic?” This FREE webinar training is geared towards the FHA Single Family Roster Appraiser and will cover property inspection requirements to include neighborhood influences, site analysis, and improvements. Appraisers new to the FHA Roster, as well as seasoned professionals wishing to refresh their knowledge, will benefit from this...

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

Caving in to CAIVRS 2

Caving in to CAIVRS…

As if the economy isn’t difficult enough, now appraisers are facing financial ruin through CAIVRS. CAIVRS is a Federal government database of delinquent Federal debtors that allows federal agencies to reduce the risk to federal loan and loan guarantee programs. CAIVRS alerts participating Federal lending agencies when an applicant for credit benefits, or for a position of trust in support of the administration of a Federal credit program, has a Federal lien, judgment or a Federal loan that is currently in default or foreclosure, or has had a claim paid by a reporting agency. In short, this is a database...

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

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