FHA Appraisal Procedural Rules Pushed Back

Two FHA rules that seek to protect appraisal independence will take effect Feb. 15 instead of earlier to give lenders time to adjust their procedures. The rules were supposed to have taken effect on Jan. 1. Access the rules in Mortgagee Letter 2009-51, on completion reports, here. Access the rules in Mortgagee Letter 2009-28, on appraisal independence, here and scroll down to ML 2009-28.

http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/09-51ml.pdf

http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/