Appraisal Firewall Complies With Upcoming FHA Regulations

Posted by Orb Staff on November 18, 2009 No Comments
Categories : Residential Mortgage

SharperLending LLC says its Appraisal Firewall platform is in compliance with new Federal Housing Administration (FHA) appraisal regulations slated to take effect Jan. 1, 2010.

In September, the Department of Housing and Urban Development (HUD) published a mortgagee letter announcing that FHA will adopt many of the same requirements that Fannie Mae and Freddie Mac use under the Home Valuation Code of Conduct (HVCC).

In addition to many of the HVCC requirements, FHA will require that appraisal management fees be listed separately from what the appraiser earned for completing the appraisal.

SOURCE: SharperLending LLC

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