HUD Guidance Clarifies Rule for Placing Appraisers on FHA Roster
June 30, 2003
The Department of Housing and Urban Development has issued guidance to help FHA lenders and agency-certified appraisers meet new appraiser rule requirements. The guidance and highlights of the final rule, which was published on May 16, appear in Mortgagee Letter 2003-09. The final rule establishes more stringent criteria for appraisers to be placed on the FHA’s official appraiser roster. Faulty or fraudulent appraisals have been largely blamed for property flipping scams that have cost