FHA Adopts Fannie/Freddie Appraisal Form For Properties in Declining Markets
March 27, 2009
FHA roster appraisers will soon be required to use a form Fannie Mae and Freddie Mac put out in November as well as adopt other policy changes for properties in “declining markets.” The Department of Housing and Urban Development tells lenders and appraisers in Mortgagee Letter 2009-09 that as of April 1, all appraisers for FHA mortgages must complete the Market Conditions Addendum...