Brian Ripp ~ Your Bay Area & Fremont Real Estate & Financial Agent » appraiser http://brianripp.com Realty World - Viking Realty / Family owned since 1971 Sun, 05 Feb 2012 17:00:22 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 FHA Policy Changes http://brianripp.com/2010/01/18/fha-policy-changes/ http://brianripp.com/2010/01/18/fha-policy-changes/#comments Mon, 18 Jan 2010 19:26:19 +0000 Brian Ripp /?p=275 Starting Jan. 1, 2010, the Federal Housing Administration will adhere to new credit standards and appraisal guidelines for FHA-insured mortgages.  The new guidelines, which essentially align with HVCC rules, will prohibit the undue influence of appraisers, or the choosing of an appraiser, by mortgage brokers or commission-based lender staff.  In addition, the FHA’s appraisal validity period will be reduced to four months for all properties including existing, proposed, and new construction.  The action also provides new guidelines allowing a second appraisal to be ordered in some instances including when a borrower switches lenders.

for more info, go to www.hud.gob/office/adm/hudclips/letters/mortgagee

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