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FHA Program Information
There are no special courses required and FHA has eliminated the examination. As a certified appraiser you can be approved to appraise residential properties for FHA financing following the HUD 4000.1 Handbook. Caution needs to be exercised though as FHA expects you to be familiar with its inspection requirements and reporting protocols. Be familiar with the handbook and its current requirements. FHA requires the use of FNMA's 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 simpler approval process or relaxed standards. Read the HUD 4000.1 Handbook which explains how to inspect and report using URAR form. You worked hard to gain your appraisal license. Followi ALL the guidelines required when performing an FHA appraisal. Know what FHA expects of you before you accept the assignment. |
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