Hud Is Phasing In More Stringent Requirements For Fha Appraisers

摘要

HUD is phasing in more stringent requirements for FHA appraisers in order to avoid program disruptions, according to Mortgagee Letter 2008-39, issued on December 17. The Housing and Economic Recovery Act (HERA) amended Section 202 (f) of the National Housing Act to require all FHA appraisers to be certified by the state in which the property to be appraised is located or by a national recognized professional appraisal organization and to have verifiable education in the FHA appraisal requirements. Although the amendment was made effective upon enactment, the mortgagee letter says FHA has determined that the loss of appraisers in certain areas will impede its ability to support affordable mortgage financing in those areas, thwarting the goals of the HOPE for Homeowners refinancing program and hampering other programs when their use has increased significantly.