323) FHA Manual & URAR Guide
05/21/08
Dear H2,
I'm in the process of becoming approved to complete FHA appraisals. What are the best basic manuals or guidebooks that I should have?
Jane Ritzenthaler jane@azappraisalmanagement.com
Dear Jane,
We recommend three.
1. First off, you need to download (or purchase) a copy of the main HUD Manual, 4150.2. It gives chapter and verse on what FHA wants you to consider when you make an appraisal for them. Click here: http://www.hud.gov/groups/appraisers.cfm Then, on the right under the green RESOURCES tab, click on "HUD Handbook 4150.2" [NOTE: Save this link. It is the main HUD resource page for FHA Appraisers, including training, events, news, and various updates.]
2. Secondly, we suggest purchasing Ann O'Rourke's new FHA Handbook. Ann is very knowledgeable and her information is current and very useful. Click here: http://www.appraisaltoday.com/products.htm Ann's Special Report on FHA Appraising is the first item for sale.
3. Finally, we think every appraiser doing appraisal reports on the URAR should have a copy of my book, Harrison's Illustrated Guide: How to Make a Single Family Appraisal on the Fannie Mae/Freddie Mac URAR Form. This line-by-line guide to filling out a URAR form ihas been a bestseller for over 20 years, through 4 major updates. The book listed here is current, including the 2008-2009 USPAP requirements.
Click here: http://www.formsandworms.com/cgi-bin/select.pl?ImageName=300285
H2
I'm in the process of becoming approved to complete FHA appraisals. What are the best basic manuals or guidebooks that I should have?
Jane Ritzenthaler jane@azappraisalmanagement.com
Dear Jane,
We recommend three.
1. First off, you need to download (or purchase) a copy of the main HUD Manual, 4150.2. It gives chapter and verse on what FHA wants you to consider when you make an appraisal for them. Click here: http://www.hud.gov/groups/appraisers.cfm Then, on the right under the green RESOURCES tab, click on "HUD Handbook 4150.2" [NOTE: Save this link. It is the main HUD resource page for FHA Appraisers, including training, events, news, and various updates.]
2. Secondly, we suggest purchasing Ann O'Rourke's new FHA Handbook. Ann is very knowledgeable and her information is current and very useful. Click here: http://www.appraisaltoday.com/products.htm Ann's Special Report on FHA Appraising is the first item for sale.
3. Finally, we think every appraiser doing appraisal reports on the URAR should have a copy of my book, Harrison's Illustrated Guide: How to Make a Single Family Appraisal on the Fannie Mae/Freddie Mac URAR Form. This line-by-line guide to filling out a URAR form ihas been a bestseller for over 20 years, through 4 major updates. The book listed here is current, including the 2008-2009 USPAP requirements.
Click here: http://www.formsandworms.com/cgi-bin/select.pl?ImageName=300285
H2
313) FHA Application Nightmare
05/09/08
Dear Henry and Ruth,
I sent in my FHA Application paperwork via fax with the test back in late November 2007. Seventeen weeks later —yes, 17 !! — my name was still not on the list and I had not received a denial letter. I contacted every number at their webpage. Since I sent in my paperwork there was a change that meant no test and no faxes. So, I sent my new paperwork without the test, by certified mail, and the Post Office shows delivery confirmation on 4/07/2008
Now that they are changing again, do you think it will take another 17 weeks for a reply? Not trying to be crappy but I am doing NO business and am really hurting. Got any suggestions?
Thanks,
Chris
Dear Chris,
Unfortunately, when the FHA gets swamped, as they have in this situation, the best they can think of doing is starting over and not worrying about the piles of unanswered stuff that is hanging around somewhere in their offices. Maybe some day they will get to it. Frankly, I have my doubts.
My suggestion is to start over on the first day of the online application process, on May 5th, and hope that you are one of the first to be replied to. Maybe you should stay up the night before and send it in at 12:01 AM! Here's the link: http://www.hud.gov/offices/hsg/sfh/appr/apr_rost.cfm
H2
I sent in my FHA Application paperwork via fax with the test back in late November 2007. Seventeen weeks later —yes, 17 !! — my name was still not on the list and I had not received a denial letter. I contacted every number at their webpage. Since I sent in my paperwork there was a change that meant no test and no faxes. So, I sent my new paperwork without the test, by certified mail, and the Post Office shows delivery confirmation on 4/07/2008
Now that they are changing again, do you think it will take another 17 weeks for a reply? Not trying to be crappy but I am doing NO business and am really hurting. Got any suggestions?
Thanks,
Chris
Dear Chris,
Unfortunately, when the FHA gets swamped, as they have in this situation, the best they can think of doing is starting over and not worrying about the piles of unanswered stuff that is hanging around somewhere in their offices. Maybe some day they will get to it. Frankly, I have my doubts.
My suggestion is to start over on the first day of the online application process, on May 5th, and hope that you are one of the first to be replied to. Maybe you should stay up the night before and send it in at 12:01 AM! Here's the link: http://www.hud.gov/offices/hsg/sfh/appr/apr_rost.cfm
H2
295) FHA Requirements
04/08/08
Dear H2,
I am trying to get approved with FHA. I found the application on the REV Magazine Website ( www.revmag.com/winter2008/10.html ) but could not find anything about what courses I need to get approved. I live in California -- I am not sure this matters.
Scott McCrory mccroryjs@adelphia.net
Dear Scott,
The FHA does not require any special courses. However, you must be a licensed or certified appraiser to apply.
H2
I am trying to get approved with FHA. I found the application on the REV Magazine Website ( www.revmag.com/winter2008/10.html ) but could not find anything about what courses I need to get approved. I live in California -- I am not sure this matters.
Scott McCrory mccroryjs@adelphia.net
Dear Scott,
The FHA does not require any special courses. However, you must be a licensed or certified appraiser to apply.
H2
262) FHA Report Form
03/06/08
Hi Henry,
Is it mandatory for an FHA appraiser to inspect an attic and look under crawl spaces beside running the water, flushing the toilets, testing outlets and testing the garage door opener for an emergency reverse, looking for all instances of peeling paint, etc?
Will the report be still on URAR which we usually fill out on a conventional loan or is there a special report form for an FHA appraisal?
Thanks a lot,
Ash mashraf@yahoo.com
Dear Ash,
Certification #2 on the URAR which you sign states: "I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness or structural integrity of the property." I think this speaks for itself.
As of today the FHA is using the URAR. However, you must comply with their Handbook 4150.2. You should have a copy of this handbook if you are going to do FHA appraisals. You can download it from the FHA website at: www.hudclips.org
H2
Is it mandatory for an FHA appraiser to inspect an attic and look under crawl spaces beside running the water, flushing the toilets, testing outlets and testing the garage door opener for an emergency reverse, looking for all instances of peeling paint, etc?
Will the report be still on URAR which we usually fill out on a conventional loan or is there a special report form for an FHA appraisal?
Thanks a lot,
Ash mashraf@yahoo.com
Dear Ash,
Certification #2 on the URAR which you sign states: "I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness or structural integrity of the property." I think this speaks for itself.
As of today the FHA is using the URAR. However, you must comply with their Handbook 4150.2. You should have a copy of this handbook if you are going to do FHA appraisals. You can download it from the FHA website at: www.hudclips.org
H2
235) Trainee Help
02/06/08
Dear Henry,
FHA makes it very clear that an appraisal trainee cannot make an FHA appraisal. However, can a trainee be mentioned in an FHA appraisal report as providing professional assitance with the qualified appraiser signing the report?
Elias Salas esalas209@comcast.net
Dear Elias,
I know of nothing in the FHA regulations that prevents an appraiser from getting and acknowledging help from a trainee on an FHA appraisal.
H2
FHA makes it very clear that an appraisal trainee cannot make an FHA appraisal. However, can a trainee be mentioned in an FHA appraisal report as providing professional assitance with the qualified appraiser signing the report?
Elias Salas esalas209@comcast.net
Dear Elias,
I know of nothing in the FHA regulations that prevents an appraiser from getting and acknowledging help from a trainee on an FHA appraisal.
H2
229) Unsafe House
02/02/08
Dear Henry,
I have an FHA question. I know that safety and health are one of the big issues with FHA but what if the appraisal is for a refinance and it isn't the house per se, but excessive personal items on the property (junk) that create an unsafe situation. Some rooms had some much "stuff" you could barely walk through the rooms. I hate to call it trash, but am not sure how to address it in the appraisal report.
Thanks for all your answers, by the way. I learn a lot from them!
Debra debra@8thstreetappraisals.com
Dear Debra,
I believe that it is every appraiser's professional responsibility to report any unsafe conditions they find as part of their inspection. What you've described fits that description.
H2
I have an FHA question. I know that safety and health are one of the big issues with FHA but what if the appraisal is for a refinance and it isn't the house per se, but excessive personal items on the property (junk) that create an unsafe situation. Some rooms had some much "stuff" you could barely walk through the rooms. I hate to call it trash, but am not sure how to address it in the appraisal report.
Thanks for all your answers, by the way. I learn a lot from them!
Debra debra@8thstreetappraisals.com
Dear Debra,
I believe that it is every appraiser's professional responsibility to report any unsafe conditions they find as part of their inspection. What you've described fits that description.
H2
211) FHA Approval
01/15/08
Dear Henry,
How do I become approved to perform VA appraisals?
Daniel Marsh dash0913@charter.net
Dear Daniel:
Check out our complete article on FHA/VA appraising on page 22 of the current online issue of Real Estate Valuation Magazine Online.
The article also provides a link to the FHA application.
H2
How do I become approved to perform VA appraisals?
Daniel Marsh dash0913@charter.net
Dear Daniel:
Check out our complete article on FHA/VA appraising on page 22 of the current online issue of Real Estate Valuation Magazine Online.
The article also provides a link to the FHA application.
H2
130) Why Do FHA Appraisals?
10/16/07
Dear Henry,
I entered the appraisal business in 1986 by becoming and FHA appraiser (Chums #2234 Region 10). I was later (1-2-98) placed on the lender roster of
approved appraisers.
After the FHA increased the appraiser's responsibility and liability I did not perform any more FHA appraisals and have not done any since.
Why perform appraisals with more stringent reporting requirements and more liability for less remuneration?
Regards,
Michael N. Read mike@mikeread.com
Dear Mike,
Most appraisers who do FHA appraisals do so because they need the business. This is especially true now as the FHA business increases and other business decreases.
H2
I entered the appraisal business in 1986 by becoming and FHA appraiser (Chums #2234 Region 10). I was later (1-2-98) placed on the lender roster of
approved appraisers.
After the FHA increased the appraiser's responsibility and liability I did not perform any more FHA appraisals and have not done any since.
Why perform appraisals with more stringent reporting requirements and more liability for less remuneration?
Regards,
Michael N. Read mike@mikeread.com
Dear Mike,
Most appraisers who do FHA appraisals do so because they need the business. This is especially true now as the FHA business increases and other business decreases.
H2
108) Doing HUD Appraisals
06/17/07
How are you doing Henry? I just became an FHA
appraiser and I wanted to know what books I can buy
from you which will help me on filling out the forms
and creating my first FHA appraisals.
The forms that I am going to be using are the 1004 URAR, and the 1073 Individual condominium unit appraisal report.
Eddy Del Valle eddyapp@adelphia.net
Dear Eddy,
If you are going to do FHA appraisals, my illustrated guides will help you. They cover these forms on a line-by-line basis and include Model Comments as well as Consistency Checks. You can order them online at www.formsandworms.com or call them Toll Free at 1-800-243-4545.
You will also need HUD's Housing Manual 4150.2 which can be downloaded at www.HUD.GOV or a hard copy purchased from them by calling 1-800-767-7468.
H2
The forms that I am going to be using are the 1004 URAR, and the 1073 Individual condominium unit appraisal report.
Eddy Del Valle eddyapp@adelphia.net
Dear Eddy,
If you are going to do FHA appraisals, my illustrated guides will help you. They cover these forms on a line-by-line basis and include Model Comments as well as Consistency Checks. You can order them online at www.formsandworms.com or call them Toll Free at 1-800-243-4545.
You will also need HUD's Housing Manual 4150.2 which can be downloaded at www.HUD.GOV or a hard copy purchased from them by calling 1-800-767-7468.
H2