http://www.realestateappraisertips.info/ – Real Estate Appraiser Tips! Appraisal Scoop: FHA Releases New FAQ on AMC’s, Reasonable and Customary Fees and Turn Around Times
Appraisal Scoop has FHA News Here! Here’s a snippet:
“
*FHA does not set fees or determine whether a fee is reasonable and customary.
*Even if the lender employs an AMC to manage the appraisal process, FHA holds the lender responsible, equally with the appraiser, for the quality and accuracy of the appraisal.“
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Why hasn’t HUD made mandentory inspection addendums to be added to the appraisal reports on new homes regarding Chinese dry wall before buyer closes the loan and has to endure health hazards, loss of value and law suites? This statement should be in every appraisal report, and sales contract on new homes the same as home built prior to 1972 regrding lead base paint?
William A. Rawls Sr.
HUD approved Certified Residential Appraiser
Thank you for the comment, William! I’m wondering the same thing! Bill.
I am just as tired of the insulting low fees as everyone else. See this blog and take the challenge http://frustratedrealestateappraisers.blogspot.com/