Archive for FHA Roster

FHA 90 Day Flip Rule: Is There One?

If you are wanting to buy a home and finance the home with an FHA loan, chances are that your lender may have mentioned a “FHA 90 day flip rule”.
Some lenders have a rule in place that they will not lend you money for an FHA loan if the home you are buying has been [...]

FHA Continues Lender Crackdown

For years I have been warning anyone who would listen that, sooner or later, FHA would start cracking down on all the lenders out there flouting the rules and risking the safety of the FHA program. It seems our present mortgage crisis, along with some increased funding, may have finally triggered this crackdown. I couldn’t [...]

FHA Removes 90 Day Waiting Period

HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERSMeasure to help bring stability to home values and accelerate sale of vacant properties

WASHINGTON – In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand [...]

FHA Update – Delays of HVCC Standards

From FHA Mortgage News:
Enactment of ML 2009-28, Appraiser Independence, will be delayed until February 15, 2010. ML09-28 This bill was originally planned for a January 1, 2010 implementation and has two parts:  a) prohibition of mortgage brokers and commission-based lender staff from the appraisal process, and b) appraiser selection in FHA Connection.  The effective date [...]

HUD/FHA Adopt the 1004MC – FHA Appraisers Required To Include 4/01/09

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Portion of 2009-09 Morgagee Letter
 SUBJECT:    Adoption of Market Conditions Addendum (Fannie Mae Form 1004MC/Freddie Mac Form 71)
 Currently, all Federal Housing Administration (FHA) Roster Appraisers are required to report on housing trends in the Neighborhood section of the applicable property specific appraisal reporting form. The Uniform Standards of Professional Appraisal Practice (USPAP) mandate that an appraiser [...]

HVCC – NAMB Lawsuit Update

The following was obtained by a prior post from FHAAppraisers.com

Opening Remarks, Breaking News Yesterday, Judge Ricardo M. Urbina, presiding in the matter between the National Association of Mortgage Brokers (NAMB) and James B. Lockhart, Director of the Federal Housing Finance Agency (FHFA), denied the motion for a temporary restraining order regarding the implementation of the [...]

FHA Roster Licensed and Certified Appraisers

See portions of this Mortgagee Letter for clarification on the future of Licensed and Certified Appraisers on the FHA Roster
SUBJECT: Revised Eligibility Requirements for FHA Roster Appraisers
Section 1404 of the Housing and Economic Recovery Act of 2008 (HERA) (Public Law 110-289, approved July 30, 2008) amended Section 202 of the National Housing [...]