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.
The physical condition of existing building improvements is examined at the time of the appraisal to determine whether repairs, alterations or inspections are necessary - essential to eliminate conditions threatening the continued physical security of the property. Required repairs will be limited to necessary requirements to:
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