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FHA Appraising for Valuation Professionals: FHA Single Family Housing Appraisal Requirements Education Schedule (PDF)
Education Catalog (PDF)
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ClassroomOn-Demand Online EducationLive Online (Synchronous)

FHA Still Matters—Really!

Did you attend one of the early FHA update programs in 2015 that was based on drafts of the proposed changes to the 4000.1 Handbook? Are you one of the many appraisers who attended an FHA update seminar in 2015, but still have questions about the latest FHA requirements?

If you are looking for an FHA seminar that offers a thorough perspective and the most current information, FHA Appraising for Valuation Professionals: FHA Single Family Housing Appraisal Requirements is for you! This seminar will help you develop an understanding of the FHA Handbook 4000.1 and the accompanying Appraisal Report and Data Delivery Guide. These two documents provide all of FHA’s guidance and requirements when completing an appraisal for a mortgage involving FHA insurance. While many of the requirements are specific to appraisals for FHA insured mortgages, the concepts and guidance are applicable to most if not all residential appraisal assignments.

Still not convinced you need this seminar?

ARE YOU AWARE that clarifying guidance was offered to the Appraisal Institute by the Home Valuation Policy Division of HUD-FHA after the 4000.1 Handbook became effective on September 14, 2015? (This includes guidance on hot topic areas like appliances, sump pumps, crawlspace and attics, and roofing, among others.)

DO YOU KNOW that the ‘3-year rule’ for analysis of prior transfers/sales of the comps was changed by FHA after the initial release of the 4000.1 Handbook back to the existing ‘1-year rule’? Do you know why FHA made the change and if/when they may again implement the ‘3-year rule’ for the comps?

DO YOU KNOW the four conditions observed during the course of an FHA inspection of the subject that require the appraiser to STOP WORK and contact the client immediately?

DO YOU KNOW how/where the FHA clarifies in the 4000.1 Handbook that the appraiser is not expected to be a home inspector? Along those lines, do you know the observed conditions that require an FHA roster appraiser to call for an inspection by a qualified individual or entity?

• If a lending client asked you to do something contrary to FHA appraisal policy, CAN YOU SHOW them in Handbook 4000.1 why they are mistaken and you are correct?

DO YOU KNOW the difference between FHA’s Minimum Property Standards and Minimum Property Requirements?

DO YOU KNOW that FHA requires competency in their policies prior to accepting an FHA case file?

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’.

Program Overview
• Table of Contents and Overview (PDF)
• Schedule (PDF)

Type
Residential

Ordering Information
To order books and other materials go to
our store

Tuition
Please contact the sponsoring chapter for information on fees applicable to chapter programs.

Required

Optional
Laptop (to access FHA Handbook 4000.1 and FHA Single Family Housing Appraisal Report and Data Delivery Guide

AI CE Credit for Designated Members and Practicing Affiliates
Attend Only = 35 points

Target Audience
FHA Roster appraisers, residential appraisers, reviewers, underwriters, lenders


Level
Basic/Intermediate

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