|
| |  | |
|
FHA Program Information
FHA has made it easier than ever to get on its approved appraiser roster. There are no special courses required and the FHA has eliminated the examination. If you are a licensed or certified appraiser, you can be approved to appraise residential properties for FHA financing. Caution needs to be exercised though as FHA expects you to be familiar with its inspection requirements and reporting protocols.
For over a year now, the FHA has required the use of FNMA's 2005 version of the URAR appraisal form and eliminated the use of the Valuation Conditions (VC) form. It has also relaxed some of its underwriting requirements. However, FHA still expects appraisers to conduct a thorough inspection of the property, test systems, report property deficiencies, and render "as repaired" valuations where appropriate.
 Don't be misled by the simpler approval process or the relaxed standards. Be sure you have read the HUD 4150.2 Handbook and its important Appendix D: Valuation Protocol which explains how to inspect and report using the new URAR form. You worked hard to gain your appraisal license. Following ALL the guidelines are required when performing an FHA appraisal. Know what FHA expects of you before you accept the assignment.
Following are helpful links and information from the FHA Website.
FHA Application - HUD-92563:
Application for Fee or Roster Personnel Designation with the new exam on page three.
FHA Appraiser Roster:
Determine your status, find out how to renew your approval and learn how to be placed on FHA roster.
FHA Exam
The FHA national appraiser exam has been been eliminated.
The original 50-question multiple choice exam went to a 10-question, essay type, open-book test but that that too has been eliminated. FHA expects Appraisers to be familiar with the language in the Valuation Protocol, Appendix D of Handbook 4150.2. Familiarity with USPAP is assumed due to licensing requirements.
|
|
|
|
Home | Appraisal | Home Inspection | Real Estate Sales | Business Development | National Courses | Student News | AREA Store | Resources | About AREA | Contact AREA | FAQ | Site Map |
America's Real Estate Academy, Inc.
6199 Hwy 92, Ste. 108, Acworth, GA 30102 (Office)
Phone: 770-591-5552 * Email: education@area-ga.com
©2002-2008 America's Real Estate Academy, Inc.
|
