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Joint Release Office of the Comptroller of the Currency
Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of Thrift Supervision
National Credit Union Administration

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For Immediate Release November 13, 2008

Agencies Seek Comment on Proposed Interagency Appraisal and Evaluation Guidelines

The federal bank, thrift and credit union regulatory agencies today jointly issued for comment proposed Interagency Appraisal and Evaluation Guidelines that reaffirm supervisory expectations for sound real estate appraisal and evaluation practices. The proposed guidance builds on the existing federal regulatory framework to clarify risk management principles and internal controls for ensuring that financial institutions’ real estate collateral valuations (both appraisals and evaluations) are reliable and support their real estate-related transactions. The initiative is intended to respond to heightened concerns over appraisals and credit quality.

The proposed guidance would replace the 1994 Interagency Appraisal and Evaluation Guidelines to incorporate recent supervisory issuances and reflect changes in industry practice, uniform appraisal standards and available technologies. As with prior issuances, the proposed guidance would apply to all real estate lending functions within a federal financial institution, including commercial and residential lending departments, capital market groups, and asset securitization and sales units.

Volatility within certain real estate markets and associated credit risk underscore the importance of independent and reliable collateral valuations. In this regard, there is an expanded discussion of portfolio management techniques and circumstances under which an institution should update or replace a collateral valuation for an existing real estate transaction.

The proposed revisions address:

Additional detail on the agencies’ expectations for an independent appraisal and evaluation function.
Greater explanation of the agencies’ minimum appraisal standards, including clarification of requirements for appraisals of residential tract developments.
Revisions to the Uniform Standards of Professional Appraisal Practice, which are incorporated by reference in the agencies’ appraisal regulations.
Risk-focused appraisal and evaluation reviews separate and apart from an institution’s compliance function.
New appendices – Appendix A provides further clarification on real estate transactions that are exempt from the agencies’ appraisal regulations; Appendix B addresses acceptable evaluation alternatives and use of automated valuation models; and Appendix C contains a new glossary of terms.
The agencies request comments on all aspects of the proposed guidance. Comments are due to the agencies sixty days after publication in the Federal Register, which is expected shortly. A copy of the Federal Register notice with the proposed guidance is attached.

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Attachment:
Proposed Interagency Appraisal and Evaluation Guidelines - PDF (PDF Help)

FDIC-PR-117-2008

November 7, 2008

MORTGAGEE LETTER 2008-36

TO: ALL APPROVED MORTGAGEES

SUBJECT: 2009 FHA Maximum Mortgage Limits
fha appraiser, fha appraisal

This Mortgagee Letter provides notice of the 2009 comprehensive update to the Federal Housing Administration’s (FHA) single-family mortgage limits as a result of the enactment of the Housing and Economic Recovery Act of 2008 (HERA). The mortgage limits described in this Mortgagee Letter are effective for those loans which have credit approval on or after January 1, 2009, and apply to mortgages insured under the following Sections of the National Housing Act: Sections 203(b) (FHA’s basic 1-4 family mortgage insurance program), 203(h) (mortgages for disaster victims), 203(k) (rehabilitation mortgage insurance) and 234(c) (condominium units). Instructions for FHA’s Home Equity Conversion Mortgages (HECM) under Section 255 are set forth below…

To read this mortgagee letter(s) and any attachments in their entirety, please visit: http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/ view the 2008 letters and click on the letter of your choice. Mortgagee Letters from previous years can be found on the same page.

AND

FHA training around the nation:

November 17-19, 2008 - Los Angeles, CA. National Reverse Mortgage Lenders Association (NRMLA) 2008 Annual Meeting & Expo. Registration required, fee. More information at: http://www.nrmlaonline.org/annual2008/%20

November 19, 2008 - Oklahoma City, OK. National Servicing Center presents training on SF Default Monitoring System (SFDMS) Reporting, FHA Connection, Credit Alert Interactive Voice Response System (CAIVRS), Mortgage Insurance Premium (MIP Portfolio Reconciliation), Tier Ranking System (TRS), and Rollout of Servicing Scorecard. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm

December 3, 2008 - Atlanta, GA. Basics of Reverse Mortgages. Sponsored by the GAMBEF. Registration required, fee. More information at: http://www.gambef.org/

December 9, 2008 - Baltimore, MD. The ABC’s of FHA Lending. Sponsored by the MAMB. Registration required, fee. More information at: http://www.mamb.org/

December 11, 2008 in Santa Ana, CA. The FHA Education Series is presented by the California Association of Mortgage Brokers (CAMB) and HUD-FHA. Learn the most recent information on FHA legislation, Hope for Homeowners (H4H), new programs & procedures for lenders, realtors, builders, appraisers & other mortgage professionals. Registration is required, no fee. Space is limited; Register today to reserve your seat. More information at: http://www.hud.gov/offices/hsg/sfh/events/sca102308.pdf

February 18-19, 2009 - Oklahoma City, OK. National Servicing Center Early Delinquency Servicing Activities and HUD’s Loss Mitigation Program. This training is for HUD-approved mortgagees, HUD-approved Housing Counselors, and Nonprofit Housing Counselors. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm

April 15, 2009 - Oklahoma City, OK. National Servicing Center presents training on SF Default Monitoring System (SFDMS) Reporting, FHA Connection, Credit Alert Interactive Voice Response System (CAIVRS), Mortgage Insurance Premium (MIP Portfolio Reconciliation), Tier Ranking System (TRS), and Rollout of Servicing Scorecard. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm

May 13-14, 2009 - Oklahoma City, OK. National Servicing Center Early Delinquency Servicing Activities and HUD’s Loss Mitigation Program. This training is for HUD-approved mortgagees, HUD-approved Housing Counselors, and Nonprofit Housing Counselors. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm

August 19-20, 2009 - Oklahoma City, OK. National Servicing Center Early Delinquency Servicing Activities and HUD’s Loss Mitigation Program. This training is for HUD-approved mortgagees, HUD-approved Housing Counselors, and Nonprofit Housing Counselors. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm

Online FHA Processing Training Class for Mortgage Processors, Underwriters & Originators. Sponsored by the IRC. Live, instructor led online FHA training classes to students nationwide. Registration required, fee. More info at: http://www.fha-training.org/

NeighborWorks® Training Institute conducts frequent training workshops around the nation for non-profit housing professionals. Scholarships are available on a limited basis for qualified non-profit agencies. More info at: http://nw.org/network/training/training.asp

The Illinois Mortgage Bankers Association (IMBA) conducts frequent training workshops for mortgage professionals on FHA subjects. Visit their website for a calendar of upcoming training opportunities. More info at: http://www.imba.org/i4a/pages/index.cfm?pageid=1

Live & Online FHA Mortgage Training Classes for Mortgage Professionals nationwide. Sponsored by Dekalb Metro Housing Counseling Center. Visit them on-line for more info. Fee. More info at: http://www.dekalbmetrohousing.org/

The Illinois Association of Mortgage Professionals has frequent training courses for mortgage industry professionals. Visit their website for more information. Fee. More info at: http://www.iamp.biz/educationregistrationforms.asp

Illinois Operation Homefront sponsors live instructor-led mortgage training across the country. Visit their website for more information. Fee.

For more information on, and to register for these training opportunities please visit: http://www.hud.gov/offices/hsg/sfh/events/events

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FEDERAL HOUSING FINANCE AGENCY

NEWS RELEASE

Contact:
Corinne Russell
(202) 414-6921

Stefanie Mullin
(202) 414-6376
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FOR IMMEDIATE RELEASE

November 11, 2008

STATEMENT OF FHFA DIRECTOR JAMES B. LOCKHART
http://www.fhfa.gov/GetFile.aspx?FileID=169

AGENCY
NEWS RELEASE
Contact: Corinne Russell (202) 414-6921
Stefanie Mullin (202) 414-6376
FOR IMMEDIATE RELEASE
November 11, 2008
Statement of FHFA Director
James B. Lockhart
Welcome. I am pleased that you are able to be here. I would also like to
welcome Brian Montgomery, HUD Assistant Secretary and FHA Commissioner;
Neel Kashkari, Interim Assistant Treasury Secretary for Financial Stability; Faith
Schwartz, Executive Director of HOPE NOW and Michael Heid, Wells Fargo. As a
Navy veteran, I do not like interfering with your Veterans Day, but as you all know
there is a battle going on in the housing market.
As housing prices have fallen, delinquencies on mortgages have tripled, not
just for subprime and Alt-A, but also for prime mortgages. Foreclosures have
increased almost 150% from two years ago. Foreclosures hurt families, their
neighbors, whole communities and the overall housing market. We need to stop
this downward spiral.
Today we are announcing a major program designed to greatly reduce
preventable foreclosures with a simplified, streamlined loan modification program
to get struggling homeowners into mortgages that they can afford. It is an
achievable goal if homeowners, banks, mortgage servicers, investors, Fannie Mae
and Freddie Mac all work together.
As the regulator of Fannie Mae, Freddie Mac and the Federal Home Loan
Banks (FHLBanks), the Federal Housing Finance Agency (FHFA) strongly supports
the Enterprises’ leadership role in setting industry standards for assisting “at risk”
borrowers who could lose their homes to foreclosure. This streamlined
modification program with uniform eligibility requirements will be supported by a
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Loan Modification Program for Distressed Indymac Mortgage Loans
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IndyMac Federal Bank, FSB (“Indymac Federal”) will implement a new program to systematically modify troubled mortgages. The program is designed to achieve affordable and sustainable mortgage payments for borrowers and increase the value of distressed mortgages by rehabilitating them into performing loans. This in turn will maximize value for the FDIC, as well as improve returns to the creditors of the former IndyMac Bank and to investors in those mortgages. The new program will help IndyMac Federal improve its mortgage portfolio and servicing by modifying troubled mortgages, where appropriate, into performing mortgages.
Below are some questions and answers regarding the program:

What loans are eligible?
What is the timeline for rollout of offers?
How will you determine which loans receive modification proposals first?
What modification options will be available to borrowers?
How does the IndyMac Federal determine whether the modified mortgage is affordable to the borrower?
How do borrowers apply for the program?
Where should borrowers interested in the program call to apply?

What loans are eligible?
The streamlined loan modifications will be available for most borrowers who have a first mortgage owned or securitized and serviced by IndyMac Federal where the borrower is seriously delinquent or in default. IndyMac Federal also will seek to work with others who are unable to pay their mortgages due to payment resets or changes in the borrowers’ repayment capacities. This streamlined approach applies only to mortgages for the borrower’s primary residence. As with all modifications, borrowers will have to demonstrate their financial hardship by documenting their income.

The goal of this streamlined loan modification program is to achieve improved value for IndyMac Federal by turning troubled loans into performing loans and, thereby, avoiding unnecessary and costly foreclosures. Accomplishing this goal will reduce the costs to the FDIC of the failure of IndyMac Bank and provide improved returns to investors in securitized mortgages.

Some mortgages serviced by IndyMac Federal are subject to additional contractual terms governing loan modifications. While additional steps are necessary to comply with those contracts, IndyMac Federal will work to expedite approvals for modifications to help eligible homeowners keep their homes.

IndyMac Federal will only make modification offers to borrowers where doing so will achieve an improved value for IndyMac Federal or for investors in securitized or whole loans. Modification offers will be provided consistent with agreements governing servicing for loans serviced by IndyMac Federal for others. The modification program does not guarantee a modification offer for IndyMac Federal borrowers.

What is the timeline for rollout of offers?
Proposed modification terms already are being sent to IndyMac Federal borrowers based on information provided by the borrowers. Several thousand modification offers will be sent by the end of this week and we will continue to reach out to many more distressed borrowers in the coming weeks. Once the borrower signs the agreement and sends a check for their new mortgage payment, along with the information necessary to verify income, IndyMac Federal will promptly finalize the modification once it verifies that the borrower’s income matches the specific modification offer. Borrowers who have not been contacted by IndyMac Federal with a modification offer, but who are experiencing financial hardship and are falling behind on their mortgage payments should contact the bank to inquire whether they may be eligible for a loan modification that could help them keep their home.

How will you determine which loans receive modification proposals first?
IndyMac Federal is focusing on mortgages that are now seriously delinquent or in default in order to prevent further losses on those mortgages and to avoid unnecessary and costly foreclosures. Borrowers who have not been contacted by IndyMac Federal with a modification offer, but who are experiencing financial hardship and are falling behind on their mortgage payments should contact the bank to inquire whether they may be eligible for a loan modification that could help them keep their home.

What modification options will be available to borrowers?
Under the IndyMac Federal program, eligible mortgages would be modified into sustainable mortgages permanently capped at the current Freddie Mac survey rate for conforming mortgages (now about 6.5%). Modifications would be designed to achieve sustainable payments at a 38 percent debt-to-income (DTI) ratio of principal, interest, taxes and insurance. To reach this metric for affordable payments, modifications could adopt a combination of interest rate reductions, extended amortization, and principal forbearance.

If, consistent with maximizing the net present value of the mortgage, an interest rate reduction below the current Freddie Mac survey rate is necessary to achieve a 38% DTI, then IndyMac Federal could reduce the rate further for five years. After five years, the interest rate would increase by no more than 1% per year until it capped at the Freddie Mac survey rate where it would remain for the balance of the loan term. Other modification features could be combined with an interest rate reduction, as necessary and consistent with maximizing the value of the mortgage, to achieve sustainable payments.

It is important to remember that there are no fees or other charges for this modification. All unpaid late charges will be waived.

How does IndyMac Federal determine whether the modified mortgage is affordable to the borrower?
IndyMac Federal determines whether a modification proposal is affordable based on income information received from the borrower. Modifications would be designed to achieve sustainable payments at a 38 percent housing debt-to-income (DTI) ratio of principal, interest, taxes and insurance. To reach this metric for affordable payments, modifications could adopt a combination of interest rate reductions, extended amortization, and/or principal forbearance.

How do borrowers apply for the program?
Thousands of delinquent borrowers will be receiving proposed offers for a loan modification in the coming weeks. These offers are based on current income information provided by the borrowers. Borrowers also may call 1-800-781-7399 to talk with an IndyMac Federal customer service specialist and find out if they may qualify for a loan modification under this program or alternatives that may help them keep their home. Once a borrower has provided financial information to an IndyMac Federal customer service representative, IndyMac Federal will evaluate whether a loan modification may be available and, if so, provide a proposed offer to the borrower by mail.

Once a borrower has received a proposed modification offer, all it takes for them to bring their mortgage current and qualify for a final modified mortgage is to

sign and return the enclosed Modification Agreement along with a check for their modified monthly mortgage payment and
provide verification of their income to confirm that they qualify for the proposed modification.
The borrower must then continue to make timely payments at the modified monthly payment amount and comply with all other terms of their mortgage agreements. If the borrower’s verified income information demonstrates that they do not qualify for the proposed modification, IndyMac Federal will contact them to discuss alternatives that may help them keep their home.

Where should borrowers interested in the program call to apply?
Borrowers who are delinquent or who are experiencing financial hardship and are falling behind on their IndyMac Federal mortgage should call 1-800-781-7399 to speak with an IndyMac Federal customer service representative. They may also visit the FDIC website (www.fdic.gov) or the IndyMac Federal website (www.imb.com) to find out more about the loan modification program.

For further information on Indymac Federal please visit: http://www.fdic.gov/bank/individual/failed/IndyMac.html

Remarks by FDIC Chairman Sheila C. Bair on the IndyMac Loan Modification Announcement: http://www.fdic.gov/news/news/speeches/chairman/spaug2008.html

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Loan Modification, (appraisal, appraiser)
Frequently Asked Questions

Information by State
Print version
Loan Modification, (appraisal, appraiser)

Related Information
Loss Mitigation Policy & Guidance
NSC FAQ Table of Contents
Servicing Guidance

A Loan Modification is a permanent change in one or more of the terms of a mortgagor’s loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford.

Question 1: In utilizing the Loan Modification option to bring an asset current, can the mortgagee include all fees and corporate advances?

Answer: Mortgagee Letter 2008-21 states in part: Legal fees and related foreclosure costs for work actually completed and applicable to the current default episode may be capitalized into the modified principal balance.
Question 2: May a mortgagee perform an interior inspection of the property if they have concerns about property condition?

Answer: Yes, the mortgagee may conduct any review it deems necessary to verify that the property has no physical conditions which adversely impact the mortgagor’s continued ability to support the modified mortgage payment.
Question 3: Can a mortgagee include late charges in the Loan Modification?

Answer: Mortgagee Letter 2008-21 states that accrued late charges should be waived by the mortgagee at the time of the Loan Modification.

Question 4: When utilizing a Loan Modification option, can a mortgagee capitalize an escrow advance for Homeowner’s Association fees?

Answer: HUD Handbook 4330.1 REV-5, Paragraph 2-1, Section B, Escrow Obligations states: Mortgagees must also escrow funds for those items which, if not paid, would create liens on the property positioned ahead of the FHA-insured mortgage.
Question 5: Is there a new basis interest rate which mortgagees may assess when completing a Loan Modification?

Answer: Yes, Mortgagee Letter 2008-21 states that the new basis interest rate is 200 points above the monthly average yield on U.S. Treasury Securities, adjusted to a constant maturity of 10 years.
Question 6: Will HUD subordinate a Partial Claim, should a mortgagor subsequently default and qualify for a Loan Modification?

Answer: If a mortgagor subsequently defaults and qualifies for a Loan Modification, HUD will subordinate the Partial Claim.
Question 7: Are mortgagees required to perform an escrow analysis when completing a Loan Modification?

Answer: Yes, mortgagees are to perform a retroactive escrow analysis at the time the Loan Modification to ensure that the delinquent payments being capitalized reflect the actual escrow requirements required for those months capitalized.
Question 8: Is the mortgagor eligible for the upfront premium refund at payoff of a modified loan?

Answer: It depends upon when the closing date occurred. For assets closed:

After July 1, 1991 but before January 1, 2001, the 7-year unearned premium refund schedule shown in Mortgagee Letter 1994-1 remains in effect,

On or after January 1, 2001 that are subsequently refinanced, the 5-year refund schedule shown in the attachment of Mortgagee Letter 2000-46 applies, or

On or after December 8, 2004, refunds of upfront MIP are eliminated except, when the mortgagor refinances to another FHA insured mortgage. The refund schedule attached to Mortgagee Letter 2005-03 has been modified to a 3-year period.

Question 9: Can a mortgagee qualify an asset for the Loan Modification option when the mortgagor is unemployed, the spouse is employed, but the spouse name is not on the mortgage?

Answer: Based upon this scenario, the mortgagee should conduct a financial review of the household income and expenses to determine if surplus income is sufficient to meet the new modified mortgage payment, but insufficient to pay back the arrearage. Once this process has been completed the mortgagee should then consult with their legal counsel to determine if the asset is eligible for a Loan Modification since the spouse is not on the original mortgage.

Realtors Ask Feds for Reduction in Owner-Occupancy Ratio
http://www.mortgagenewsdaily.com/11102008_Owner_Occupied_Ratio_Requirement.asp
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The National Association of Realtors® (NAR) recently called on the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Administration (FHFA) to reduce the owner-occupied ratio requirement for condominium complexes.

In letters to HUD Secretary Steven C. Preston and James B. Lockhart, III, Director of FHFA, NAR President Dick Gaylord asked that the two agencies reduce the current requirement that 51 percent of individual units within a condo development be owner occupied for that unit to qualify for Freddie Mac, Fannie Mae, or Federal Housing Administration loans.

The Association also asked that bank-owned real estate resulting from foreclosures not be counted as non-owner occupied in calculating the 51 percent ratio.

The letters said that NAR recommends that the government sponsored enterprises (GSEs) reduce the occupancy ratio for GSE and FHA mortgages slightly “to a number below 50 percent for all condominium developments that have vacant units as a result of bank foreclosures. However, the number should not be reduced so much that it creates a development that is primarily investor-owned and harms the value or appreciation of owner-occupied units.”

The loans meeting the rule of these agencies are generally the most accessible to borrowers and usually carry the lowest interest rates. Particularly in the current credit squeeze purchasers of condos may find it nearly impossible to arrange other types of funding.
condo appraiser, condo appraisal

OCC Releases Newsletter Focusing on
Gulf Coast Redevelopment

(real estate appraiser, real estate appraisal) WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released the fall 2008 edition of the Community Developments newsletter focusing on the recovery efforts in the Gulf Coast region.

“Three years after the storms of 2005, national banks are key partners in the ongoing recovery effort to help bring back Gulf Coast communities,” said Comptroller of the Currency John C. Dugan. “We are hopeful that recent policy changes to extend Community Reinvestment Act consideration for recovery-related efforts by an additional three years will facilitate continued bank investment in the Gulf Coast region.”

Under the Community Reinvestment Act (CRA) regulations, financial institutions may receive CRA consideration for disaster recovery-related activities that help to revitalize or stabilize a major disaster area for 36 months following the date of designation by the federal government. However, where there is a demonstrable community need to extend the period for recognizing revitalization or stabilization activities in a particular disaster area to assist in long-term recovery efforts, this time period may be extended. In September 2008, the bank regulatory agencies extended by an additional three years the period during which loans, investments, and services that help stabilize the areas impacted by hurricanes Katrina and Rita will receive positive CRA consideration.

This issue of Community Developments highlights bank involvement in Gulf Coast redevelopment activities and describes how financial institutions across the country can earn positive CRA consideration for recovery related activities. The newsletter also discusses the Housing and Economic Recovery Act’s expansion of national banks’ public welfare investment authority which now allows a broader range of bank investment activities in designated disaster areas.

The Community Developments newsletter can be accessed on the OCC’s Web site at: http://www.occ.gov/cdd/CD_Fall08.pdf.
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http://www.harriscompanyrec.com

From: HUD USER News
hud 203k consultant
HUD’s Partnership for Advancing Technology in Housing
(PATH) recently released the fourth in a series of
reports on prescriptive methods for using alternative
materials in residential construction without the need
for project-specific engineering services. Prescriptive
Method for Connecting Structural Insulated Panel Roofs
to Concrete Wall Systems offers methods for connecting
structural insulated panel (SIP) roofs to concrete wall
systems in one- and two-family dwellings, townhomes, and
other attached single-family dwellings and accessory
structures.

This report adheres to accepted engineering practices,
standard testing procedures, and practical construction
techniques. It is designed for use by homebuilders,
design professionals, and building code officials, and
was written to comply with the loading requirements of
the most recent U.S. model building codes at the time of
publication.

Prescriptive Method for Connecting Structural Insulated
Panel Roofs to Concrete Wall Systems is available as a
free download from HUD USER
at www.huduser.org/publications/destech/pres_method.html.
The three previous reports in the prescriptive methods
series are available to download free of charge at the
following links:

o The Prescriptive Method for Connecting Cold-Formed
Steel Framing to Insulating Concrete Form Walls in
Residential Construction;

o Prescriptive Method for Insulating Concrete Forms in
Residential Construction; and

o Prescriptive Method for Residential Cold-Formed Steel
Framing.

The last two reports can also be ordered in print for a
nominal fee from HUD USER at 1-800-245-2691.

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Please contact us at:
HUD USER
P.O. Box 23268
Washington, DC 20026-3268
1-800-245-2691
1-800-927-7589 (TDD)
202-708-9981 (fax)
————————————–
The HUD USER News eList keeps busy professionals in the
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new research and resources available from the U.S.
Department of Housing and Urban Development’s Office of
Policy Development and Research (PD&R). Periodically,
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will be sent via the eList. The HUD USER and Regulatory
Barriers Clearinghouses value your privacy; we do not
share our mailing lists with other groups, and you can
unsubscribe at any time.

You can search the eList archives
at http://listserv.huduser.org/.
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Why not share HUD USER’s resources and information with
a colleague? Forward this email to associates who may be
interested in the housing research and data sets we have
to offer. Thanks!

This is the HUD national homeownership center reference guide mailing list for real estate industry professionals that are interested in updates to HUD Mortgagee letters, notices and guidebooks, & FHA Housing Industry Training. Please visit our homepage at: http://www.hud.gov/offices/hsg/sfh/hsgsingle.cfm Servicing lenders can visit HUD’s National Servicing Center at: http://www.hud.gov/offices/hsg/sfh/nsc/nschome.cfm This list does not provide HudHome property listings.
Attention Housing Counselors and Lenders:
fha appraiser, fha appraisal
The Federal Housing Administration (FHA) of the U.S. Department of Housing and Urban Development (HUD) is conducting the 2008 FHA National HOPE for Homeowners Training Conference, November 13-14, 2008, at the Atlanta Marriott Marquis Hotel in Atlanta, Georgia.

The purpose of the conference is to introduce the new HOPE for Homeowners (H4H) program, which was created as a result of recently passed groundbreaking legislation. The H4H program became effective on October 1, 2008 and will continue through September 30, 2011. This specialized training conference covers the important aspects of the H4H program and provides FHA lenders and Housing Counselors with the tools and knowledge needed to immediately provide a unique, yet secure, mortgage product to our Nation’s struggling homeowners.

HUD strongly encourages lenders to work with their at-risk borrowers to determine whether H4H is right for them. The program will serve as another loss mitigation tool that can be used to help families keep their homes. H4H underscores the importance of strong, common-sense fundamentals to stabilize communities.

Over the course of the conference, attendees will be presented with a detailed outline of the H4H program. Additionally, attendees may engage in open dialogue, and in question-and-answer sessions about the H4H program’s role, other major program changes, and the evolving role of the FHA. Topics include:

How H4H Differs from FHASecure
Maximum Mortgage Limits
Down Payment Calculation
Special Underwriting Requirements
Special MIP Rates
Equity and Appreciation Sharing
Borrower, Property, and Refinance Eligibility
Not since the creation of the FHA insured loan program in 1934 has there been such a critical need for a financing option to shore up and stabilize the home loan market. As in 1934, the FHA is stepping in to fill the gap – with the H4H program. Join us for the conference and help to renew a sense of HOPE for Homeowners!

For registration and conference information please visit our website at: http://www.sei2003.com/HUD/2008H4Hconference/ Register today to reserve your seat!

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Valuation Analysis for Single Family One- to Four- Unit Dwellings (4150.2)

Information by State
Print version

Instructions

For each handbook document, you may download the PDF Version and/or the Word fillable form.

Transmittal: Valuation Analysis for Single Family One- to Four PDF WORD
Table of Contents PDF WORD
Chapter 1: SELECTION OF APPRAISER PDF WORD
Chapter 1: SITE ANALYSIS PDF WORD
Chapter 3: PROPERTY ANALYSIS PDF WORD
Chapter 4: THE VALUATION PROCESS PDF WORD
Chapter 5: REPORTING THE APPRAISAL PDF WORD
Chapter 6: APPRAISAL AND APPRAISER MONITORING PDF WORD
Chapter 7: REGULATORY ENVIRONMENT, ENFORCEMENT AND SANCTIONS PDF WORD
Chapter 8: MANUFACTURED HOMES PDF WORD
Chapter 9: PLANNED UNIT DEVELOPMENTS AND CONDOMINIUMS PDF WORD
APPENDIX A: VALUATION OF OTHER PROPERTIE PDF WORD
APPENDIX B: SPECIAL PROGRAMS PDF WORD
APPENDIX C: APPRAISAL OF SINGLE FAMILY HOMES ON NATIVE AMERICAN LANDS PDF WORD
APPENDIX D: VALUATION PROTOCOL PDF WORD
WORD
WORD
Performance and Sanctions Matrix WORD

Content current as of April 14, 2008 Back to top

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