Thursday , 21 January 2021

hud handbook 4000.1

Cosmetic vs. MPR Repairs: Guidance for FHA Appraisers

According to HUD Handbook 4000.1, the intended users for an FHA appraisal report are FHA and the mortgagee. FHA appraisals are not a guarantee that the property is free from defects. The appraisal establishes the value of the property for mortgage insurance purposes only. If you are appraising a property that needs some cosmetic repairs but meets FHA minimum property requirements …

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