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Are mortgage brokers still allowed to order none USDA or FHA appraisals directly from appraisers?

Replied Oct 1

Are mortgage brokers still allowed to order none USDA or FHA appraisals directly from appraisers?

Replied Oct 1

Plans and Spec appraisal

Replied Oct 1

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Randy Bennett replied to Randy Bennett's discussion 'Are mortgage brokers still allowed to order none USDA or FHA appraisals directly from appraisers?'

Thanks!

October 1

kevin malesis replied to Randy Bennett's discussion 'Are mortgage brokers still allowed to order none USDA or FHA appraisals directly from appraisers?'

Brokers can still order appraisals directly if the loan is not being sold to Fannie or Freddie. I have brokers sending loans to ING and some local portfolio lenders. They do not follow HVCC as they do not sell to Fannie or Freddie. I am pretty sur...

October 1

Randy Bennett replied to Randy Bennett's discussion 'Are mortgage brokers still allowed to order none USDA or FHA appraisals directly from appraisers?'

I know - this was not FHA or USDA appraisal.

October 1

kevin malesis replied to Randy Bennett's discussion 'Are mortgage brokers still allowed to order none USDA or FHA appraisals directly from appraisers?'

brokers are still allowed to order appraisals directly for FHA and USDA appraisals. This will end January 1, 2010 for FHA, no idea for USDA

October 1

Randy Bennett replied to Mary Maher's discussion 'Plans and Spec appraisal'

The appraiser probably cloned the report and that was one of the canned comments from the cloned report. However, on all new construction appraisals I do, the lenders require the cost approach including the land value.

October 1

Randy Bennett added a discussion

Are mortgage brokers still allowed to order none USDA or FHA appraisals directly from appraisers?

I know the answer to the question but... A homeowner provided me with his exterior only appraisal that was just completed. It was ordered directly from the mortgage broker to the appraiser for a refinance. Has anyone else ran across this situation?

October 1