Effective April 1,2009 FHA Appraisal Must Include the Fannie Mae form 1004/MC, the market conditions Addendum
Posted on April 10th 2009
In April of 2009 FHA issued a mortgagee letter to respond to declining markets. These changes go into effect for all FHA appraisals beginning April 1, 2009. This aligns the FHA appraisal requirements with Fannie Mae which also requires new reporting as of April 1.
Appraisers are currently expected to note the trend of property values. [...]
Posted in FHA Loans, News and Updates |
