Advance Your Competency in FHA Appraising
FHA Appraising—Principles and Procedures, Guide to the Complete FHA Appraiser takes a different approach to learning FHA concepts and protocols. And yes, it is distinct and different from our classroom version, FHA Appraising for Valuation Professionals: FHA Single Family Housing Appraisal Requirements, as well as FHA seminars and publications offered by other providers. This online seminar provides coverage of FHA issues in a manner that would be difficult to replicate in a typical classroom presentation.
FHA Appraising—Principles and Procedures addresses the tough questions that others often sidestep. We explain what Handbook 4000.1 is really saying when FHA requires you to do certain things. We’ve had extended discussions with HUD staff in Washington DC to ensure that we understand the guidance provided to appraisers. We also provide additional insight and practical advice on how to apply FHA’s protocols in real-world appraising. We think you will like this approach.
FHA Appraising—Principles and Procedures is designed for appraisers that are new to FHA as well as seasoned FHA Roster appraisers. This is also the seminar to take if you are under sanctions from HUD for remedial education specific to FHA appraising. To appraise for FHA, you need to know and understand FHA principles and procedures. That’s the focus and purpose of this online seminar. It is the guide to becoming the complete FHA appraiser.
Quick overview of the seminar content modules:
- Module 1: Introduction to FHA Appraising
- Module 2: FHA Fundamentals
- Module 3: Offsite and Onsite Protocols
- Module 4: Property Analysis – Part 1
- Module 5: Property Analysis – Part 2, and FHA Valuation and Reporting Protocols
Key course objectives:
- Identify and explain key eligibility requirements to qualify for placement on the FHA Appraiser Roster.
- Recognize the appraiser’s role as the on-site representative for the mortgagee and how it relates to an independent valuation process.
- Relate how the appraiser’s observation of offsite and onsite conditions plays a key role in the valuation process and in HUD’s Property Acceptability Criteria.
- Identify and explain FHA protocols for observing and analyzing property improvement characteristics that may affect safety, soundness and security.
- Identify and explain FHA valuation and reporting protocols intended to ensure the credibility of assignment results for FHA insurance purposes.
Upon completion of this seminar, participants should be able to:
- Easily navigate the FHA Handbook 4000.1 and related documents, including the FHA’s Appraisal Report and Data Delivery Guide.
- Understand general property eligibility and acceptability criteria for properties used as collateral for an FHA-insured mortgage.
- Identify the type and extent of “observation” that is required to be included in the scope of work for an appraisal assignment that is intended to be used in an FHA mortgage insurance decision.
- Identify the type and extent of analysis that is required to be included in the scope of work for an appraisal assignment that is intended to be used in an FHA mortgage insurance decision.
- Understand the reporting requirements for an appraisal that is to be used by a lender to make a decision on a property’s eligibility for an FHA-insured mortgage.
Note. In September 2015, after decades of relying upon multiple sources of guidance to properly develop and report an FHA appraisal assignment (i.e. the HUD 4150.2 Handbook, the 4150.1 REV-1 Handbook, dozens of Mortgagee Letters, and Frequently Asked Questions–Valuation Protocol), HUD-FHA implemented its authoritative source, the 4000.1 Handbook. With the implementation of the 4000.1, some 450 Handbooks, Mortgagee Letters, and other policy documents were superseded and consolidated into this one Handbook, which FHA has described as ‘the consistent source for their Single Family Housing Policy’.
AI CE Credit for Designated Members and Practicing Affiliates