Lincoln Appraisal Complies With FHA Requirements

Posted by Orb Staff on December 15, 2009 No Comments
Categories : Residential Mortgage

Lincoln Appraisal & Settlement Services, a Rhode Island-based appraisal management company, says it will be in full compliance with the Federal Housing Administration (FHA) appraisal guidelines that take effect Jan. 1, 2010.

The new requirements prohibit FHA lenders from accepting appraisals from appraisers who are selected, retained or compensated by mortgage brokers or any member of a lender's staff who are compensated based on the successful completion of a loan.

‘We will continue to utilize the guidelines put forth by the FHA and [Home Valuation Code of Conduct], says George K. Demopulos, president and chief corporate appraiser with the company, adding, "We take this commitment very seriously and will continue to train and certify all of the employees of Lincoln Appraisal & Settlement Services on the HVCC process and FHA requirements.’

SOURCE: Lincoln Appraisal & Settlement Services

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