Another great survey from www.appraisalport.com !!
My comments: Whether or not there will be increased time (and possible liability issues) required is controversial. Some say there are more requirements, others say not much has changed. My favorite response to the poll is “What changes?” ;>
In the May 2015 paid Appraisal Today June newsletter, Doug Smith’s article discussed the changes: “What’s Up with FHA’s New Manual 4000.1? More Scope Creep? The pluses and minuses of the changes in the manual”. One of the hot topics is about inspecting attic and crawl spaces. For more info on the paid newsletter, click the banner ad below.
FHA Single Family Housing Policy
Handbook (HUD Handbook 4000.1
Information Page Link:
http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/handbook_4000-1
New FHA Appraisal Report and Delivery Guide
It goes step-by-step through the URAR and states what is expected in each section
http://portal.hud.gov/hudportal/documents/huddoc?id=SFH_POLI_APPR_RPT_FIN.PDf
Be sure that any FHA classes you take include this new Guide!!
agree
Been on the FHA roster since 1980. The requirements/scope of work creep in the new handbook are ridiculous. I have no intention of completing FHA appraisals after 9/14/2015 and have informed my clients. The liability is too great for any fee. Appraisers will have to make a decision. Abandon FHA or risk losing all of your conventional appraisal business when your name is removed from the FHA roster for not fully complying with the new handbook.