FHA and HVCC
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