FHA Announces Updates to Property and Appraisal QC Review Re

FHA Announces Updates to Property and Appraisal QC Review Requirements | Weiner Brodsky Kider PC


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FHA recently issued Mortgagee Letter 2021-17 (ML 2021-17), which announces updates to certain Quality Control (QC) review requirements in the Single Family Housing Policy Handbook 4000.1 (SF Handbook 4000.1), Section V.A.3.c.ii(C), including the expiration of a COVID-19 temporary partial waiver of these requirements.
The temporary partial waiver, which was initially announced in June 2020 and extended in December 2020, sought to temporarily provide mortgagees with flexibility regarding QC field reviews of appraisals due to the COVID-19 pandemic.  The waiver permitted mortgagees to use third-party tools as an alternative to field reviews of appraisals but required mortgagees to continue to meet all other appraisal QC requirements in SF Handbook 4000.1

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