Transcription of APPENDIX D: VALUATION PROTOCOL - HUD
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APPENDIX D: VALUATION PROTOCOL - HUD
1/06 D- 1 APPENDIX D: VALUATION PROTOCOL The appraisal process is the lender s tool for determining if a property meets the minimum requirements and eligibility standards for a FHA-insured mortgage. Underwriters bear primary responsibility for determining eligibility; however, the appraiser is the on-site representative for the lender and provides preliminary verification that the General Acceptability Criteria standards have been met. FHA RESIDENTIAL APPRAISAL REQUIREMENTS This section provides specific instructions for completing appraisal report forms.
If the condition is clearly a health and safety violation, contact the lender for further instructions before completing the appraisal. The lender must clear the condition and may require an inspection or reject the property. If there is any doubt as to the severity, report the condition and submit the completed report.
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