FHA Issues Appraisal FAQs
May 27, 2010
Source: Federal Housing Administration
The Federal Housing Administration (FHA) has released a series of frequently asked questions (FAQ) documents regarding appraisals. The FAQs are specific to Mortgagee Letters 2009-28, 2009-29, and 2009-51. The mortgagee letters address appraiser independence (ML 2009-28), appraisal portability (ML 2009-29), and FHA's adoption of Fannie Mae Form 1004D/Freddie Mac Form 442/March 2005 (ML 2009-51). The fourth FAQ document addresses reasonable and customary fees for appraisers and turnaround times.