Thursday , 21 January 2021

veterans affairs

FHA and VA Issue COVID-19 Appraisal Guidance

Within the last several days, HUD/FHA and VA have both issued updated guidance for appraisers regarding appraisal scope of work and COVID-19. HUD issued Mortgagee Letter 2020-05 on March 27, 2020. On a temporary basis, appraisers are permitted to perform desktop or exterior-only inspection appraisals for FHA loans. This guidance is effective until May 17, 2020, although it may be …

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VA Issues Guidance for Appraisers Regarding COVID-19

On March 16th, 2020, the Department of Veterans Affairs (VA) issued Circular 26-20-7 which includes guidance for appraisers regarding COVID-19. Many government entities have advised that all non-essential businesses should close at this time, in order to avoid spreading the virus. Large numbers of appraisers have been asking, “Are we essential or non-essential?” For purposes of VA, appraisers are essential …

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