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Forums » Other Industry Professionals » Appraisers, Title and Escrow » FHA and HVCC
 

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Latest post Sun, Sep 20 2009 8:16 PM by Moshe Cohen PhD. 0 replies. Viewed 428 times.
Page 1 of 1 (1 items)

  • Sun, Sep 20 2009 8:16 PM                

    |Contact

    Under new guidlines FHA will modify the ordering of appraisals. FHA reaffirms appraisal independence. New requirements will be effective January 1.

    They prohibitmortgage broker oor any of their staff compensated on a commission basis to order appraisals. Lenders also have to assure that the appraiser on the FHA connection is the appraiser who performed the appraisal.

    FHA does not require the use of AMC

    They encourage payment of customary and reasonable fee to appraisers

    Appraisers will be able to attach invoice to their appraisal . Now most AMCs prohibit it.

    Appraisal fee will not include any fee for the AMC

     
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