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8 results for What is the FHA appraisal validity period

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#1 VA Lenders Handbook (Pamphlet 26-7) Page 473

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Notices of Value 13-10 7. Notice of Value Validity Period Change Date July 22, 2019 • This chapter has been revised in its entirety. a. Validity Period An NOV is valid for 6…

VA Lenders Handbook (Pamphlet 26-7) · VA-Lender-Handbook.pdf · Page 473 · View at official source (VA.gov — Appraisers/Staff Appraisal Reviewer) →

Notices of Value 13-10 7. Notice of Value Validity Period Change Date July 22, 2019 • This chapter has been revised in its entirety. a. Validity Period An NOV is valid for 6 months. b. Veteran Under Contract If a Veteran is under contract during the validity period, processing may continue until that transaction is either completed or terminated. c. Extension of the Validity Period On a case-by-case basis, VA may extend validity periods when requests for such actions are reviewed and found to be appropriate under prevailing conditions.

#2 HUD/FHA Single Family Handbook 4000.1 Page 1327

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III. SERVICING AND LOSS MITIGATION A. Title II Insured Housing Programs Forward Mortgages 2. Default Servicing Handbook 4000.1 1300 Last Revised: 11/26/2025 If the Property is…

HUD/FHA Single Family Handbook 4000.1 · HUD_FHA_4000.1.pdf · Page 1327 · View at official source (HUD.gov — SFH Handbook 4000.1) →

III. SERVICING AND LOSS MITIGATION A. Title II Insured Housing Programs Forward Mortgages 2. Default Servicing Handbook 4000.1 1300 Last Revised: 11/26/2025 If the Property is occupied and an interior appraisal cannot be obtained, an “exterior-only” appraisal may be used. (a) Appraisal Validity Period The appraisal must be valid on the date of the foreclosure sale. Appraisals are valid for 180 Days from the effective date of the appraisal report. (b) Extension to Appraisal Validity Period HUD provides an automatic 30-Day extension from the appraisal expiration date for delays due to bankruptcy, court delays, or delays outside of the Mortgagee’s control. The Mortgagee must request and obtain HUD approval via EVARS for extensions beyond the automatic 30-Day extension. (c) Subsequent Appraisals for Post-Foreclosure Sales Efforts If a Property that had an exterior-only appraisal becomes vacant, the Mortgagee must obtain a new appraisal that includes both an interior and exterior inspection if: • before foreclosure, any delay due to obtaining a new appraisal will not cause the foreclosure sale to be canceled; or • after foreclosure, the Mortgagee conducts post-foreclosure sales efforts. Mortgagees must use an FHA Roster Appraiser to conduct the new appraisal. HUD will reimburse the Mortgagee for the cost of one new appraisal following vacancy through the FHA insurance claim. (d) Required Documentation Mortgagees must upload the appraisal information and related FHA case number through HUD’s system of record (P260) within 30 Days of the date of the appraisal. (2) Determining the CAFMV After determining the Property’s appraised value using the most recent appraisal, the Mortgagee’s authorized employees must access the CAFMV link in FHAC to determine a Property’s CAFMV. The CAFMV remains valid and in effect for 120 Days from the date of the appraisal. In jurisdictions where the Mortgagee is required to bid a specific amount at foreclosure, that amount will be deemed to be the CAFMV for purposes of the initial foreclosure; however, the Mortgagee’s authorized employees must access

#3 VA Lenders Handbook (Pamphlet 26-7) Page 464

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Chapter 13 Notices of Value Overview In this Chapter This chapter contains the following topics. Topic Topic Name See Page 1 Issuing the Notice of Value 13-2 2 Scope of Appraisal…

VA Lenders Handbook (Pamphlet 26-7) · VA-Lender-Handbook.pdf · Page 464 · View at official source (VA.gov — Appraisers/Staff Appraisal Reviewer) →

Chapter 13 Notices of Value Overview In this Chapter This chapter contains the following topics. Topic Topic Name See Page 1 Issuing the Notice of Value 13-2 2 Scope of Appraisal Review 13-3 3 Appraisal Review Process 13-4 4 Appraisal Management System 13-6 5 Notice of Value Timeliness Expectation 13-8 6 Appraisal Review Reference Materials 13-9 7 Notice of Value Validity Period 13-10 8 Notice of Value Conditions 13-11 Appendix A Notice of Value Sample Letter 13-16

#4 HUD/FHA Single Family Handbook 4000.1 Page 151

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A. Title II Insured Housing Programs Forward Mortgages 1. Origination/Processing Handbook 4000.1 124 Last Revised: 11/26/2025 which are subject to separate validity period…

HUD/FHA Single Family Handbook 4000.1 · HUD_FHA_4000.1.pdf · Page 151 · View at official source (HUD.gov — SFH Handbook 4000.1) →

A. Title II Insured Housing Programs Forward Mortgages 1. Origination/Processing Handbook 4000.1 124 Last Revised: 11/26/2025 which are subject to separate validity period requirements. Documents whose validity for underwriting purposes is not affected by the passage of time, such as divorce decrees or Tax Returns, may be more than 120 Days old at the Disbursement Date. For purposes of counting Days for periods provided in this Handbook 4000.1, Day one is the Day after the effective or issue date of the document, whichever is later. (b) Appraisal Validity (i) Initial Appraisal Validity The initial appraisal validity period is 180 Days from the effective date of the appraisal report. See Ordering Appraisals. (ii) Appraisal Update Where the initial appraisal report will be more than 180 Days at Disbursement Date, an appraisal update may be performed to extend the appraisal validity period. See Ordering an Update to an Appraisal. Where the initial appraisal is updated, the updated appraisal is valid for one year after the effective date of the initial appraisal report that is being updated. (2) Handling of Documents Mortgagees must not accept or use documents relating to the employment, income, assets, or credit of Borrowers that have been handled by or transmitted from or through unknown parties or Interested Parties. Mortgagees may not accept or use any Third Party Verifications (TPV) that have been handled by or transmitted from or through unknown parties, Interested Parties, or the Borrower. Exception for Mortgagees and TPOs The Mortgagee and TPO are permitted to handle documents relating to the employment, income, assets, credit, or occupancy of Borrowers. (a) Information Sent to the Mortgagee Electronically The Mortgagee must authenticate all documents received electronically by examining the source identifiers (e.g., the fax banner header or the sender’s email address) or contacting the source of the document by telephone to verify the document’s validity. The Mortgagee must document the name and telephone number of the individual with whom the Mortgagee verified the validity of the document.

#5 Fannie Mae Selling Guide Page 1151

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Losses, damages, penalties, settlements, liabilities, judgments, claims, counterclaims, defenses, actions, costs, expenses, attorneys' fees, and other legal fees (collectively,…

Fannie Mae Selling Guide · Selling Guide - 06-03-2026.pdf · Page 1151 · View at official source (selling-guide.fanniemae.com) →

Losses, damages, penalties, settlements, liabilities, judgments, claims, counterclaims, defenses, actions, costs, expenses, attorneys' fees, and other legal fees (collectively, “Fannie Mae losses” or “losses incurred by Fannie Mae”). Fannie Majors See multiple pool. Federal Emergency Management Agency (FEMA-Declared Disaster Areas) A city, county, or parish designated by FEMA as eligible for individual assistance as a result of a natural disaster. Federal Emergency Management Agency (FEMA) A federal agency that provides assistance in areas that have suffered a major disaster or other emergency. It also maintains flood insurance rate maps that identify the Special Flood Hazard Areas in which Fannie Mae requires flood insurance. Federal Housing Administration (FHA) FHA, also a part of HUD, provides mortgage insurance on loans made by FHA-approved lenders. Federal Housing Finance Agency (FHFA) The safety, soundness, and mission regulator for Fannie Mae. FHFA replaced the former regulator, the Office of Federal Housing Enterprise Oversight (OFHEO). fee simple estate An unconditional, unlimited estate of inheritance that represents the greatest estate and most extensive interest in land that can be enjoyed. It is of perpetual duration. When the real estate is in a condo project, the unit owner is the exclusive owner only of the air space within their portion of the building (the unit) and is an owner in common with respect to the land and other common portions of the property. FEMA Federal Emergency Management Agency FHA Federal Housing Administration FHA-insured mortgage A mortgage by the FHA; may be referred to as a "government" mortgage. FHFA Federal Housing Finance Agency FHLMC Federal Home Loan Mortgage Corporation fidelity bond

#6 Reconsideration of Value (ROV) Guidance Page 1

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SOURCE: Federal Housing Finance Agency (FHFA) — News Release "FHFA Announces Enterprise Reconsideration of Value Policies" Published: May 1, 2024 URL:…

Reconsideration of Value (ROV) Guidance · FHFA_Enterprise_ROV_Policy_Announcement_2024.txt · Page 1 · View at official source (FHFA — Reconsideration of Value) →

SOURCE: Federal Housing Finance Agency (FHFA) — News Release "FHFA Announces Enterprise Reconsideration of Value Policies" Published: May 1, 2024 URL: https://www.fhfa.gov/news/news-release/fhfa-announces-enterprise-reconsideration-of-value-policies ===================================================================== FHFA Announces Enterprise Reconsideration of Value Policies Washington, D.C. — The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) published new Reconsideration of Value (ROV) policies after months of collaboration with FHFA and the U.S. Department of Housing and Urban Development's (HUD) Federal Housing Administration. A Reconsideration of Value is a request to an appraiser to re-assess the appraised value of a property due to potential appraisal reporting deficiencies or inappropriate selection of comparable properties, or based upon additional information the appraiser should consider. "Consistent standards for lenders and appraisers, coupled with a well-understood process for consumers to challenge appraisal findings, will help ensure that consumers are treated fairly," said then-FHFA Director Sandra L. Thompson. "These updates represent a powerful tool in combating racial bias in property appraisals and promoting valuation accuracy." In June 2023, as part of the Interagency Task Force on Property Appraisal and Valuation Equity, FHFA and HUD established a working group to develop consistent ROV standards. The Enterprises' new policies provide clear requirements for lenders to disclose and outline the ROV process for consumers, standardize communication to appraisers, and establish ROV response expectations. Lenders are also required to refer appraisers to local, state, and federal agencies for violations of anti-discrimination laws. Related policy sources: - Fannie Mae Selling Guide Announcement SEL-2024-03, Selling Guide Updates - Freddie Mac Bulletin 2024-6 - FHA ROV Mortgagee Letter (HUD) ===================================================================== NOTE: This is the original 2024 policy announcement establishing consistent ROV standards across Fannie Mae and Freddie Mac. See also the 21st Century ROAD to Housing Act (2026), indexed separately, which directs HUD, FHFA, USDA, and VA to standardize ROV procedures across the entire mortgage industry -- and note that FHA rescinded its own 2024 ROV policy in March 2025, so the FHA-specific ROV process is currently unsettled pending the new legislation's implementation.

#7 2024 USPAP Page 385

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comparable you are being asked to remove was relevant in developing and communicating the assignment results. I this opinion has not changed, and you subsequently remove a…

2024 USPAP · 2024_USPAP_text.txt · Page 385 · View at official source (The Appraisal Foundation — USPAP) →

comparable you are being asked to remove was relevant in developing and communicating the assignment results. I this opinion has not changed, and you subsequently remove a comparable listing or sale from the appraisal report and sign the certification for this specific report format, it would likely be misleading because information you consider to be significant is being knowingly withheld. In addition, Standards Rule 2-2(aXx)) requires that at a minimum an Appraisal Report provide sufficient information to indicate that the appraiser complied with the requirements of STANDARD 1 by: summarizing the Information analyzed and the reasoning that supports the analyses, opinions, and conclusions, Including reconciliation of the data and approaches (Bold added for emphasis) Ifthe comparable Is removed as requested by the client, information that was analyzed would no longer be summarized in the report as required by this Standards Rule. 4140. SHELF LIFE OF AN APPRAISAL OR APPRAISAL REPORT Question: I've received Inqulrles from some of my cllents asking me how long my appraisal reports are valld. Is this addressed In USPAP? Response: USPAP does not determine the length of time for which an appraisal or appraisal report is valid Various users of appraisal services may establish their own requirements or guidelines for the validity period of an appraisal or appraisal report. Itis also important to note that USPAP distinguishes an appraisal from an appraisal report. An appraisal is an opinion of value while an appraisal report is any communication, written or oral, of an appraisal that is transmitted to the client upon completion of an assignment. Two dates are essential to an appraisal report: the effective date of the appraisal and the date of the report. The effective date of the appraisal establishes the context for the value opinion, while the date of the report indicates whether the perspective of the appraiser on the market and property as of the effective date of the appraisal was prospective, current, or retrospective. As such, the effective date of the appraisal, the date of report, or both may be important reference points when determining when a new appraisal or appraisal report is required, 200 c= USPAP Guidance: Frequently Asked Questions oS © The Appraisal Foundation --- Page 289 --- Ens. ‘APPRAISAL DEVELOPMENT ~ CLIENT ISSUES 141. USE OF DISTRESS SALES IN REAL PROPERTY MARKET VALUE APPRAISALS Question: A cllent has asked me to disregard any foreclosure, real estate owned (REO), or

#8 2024 USPAP Page 392

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the subject property In Its current “as-1s" condition. AO34 states, “Current appraisals occur when the effective date of the appraisal Is contemporaneous with the date of the…

2024 USPAP · 2024_USPAP_text.txt · Page 392 · View at official source (The Appraisal Foundation — USPAP) →

the subject property In Its current “as-1s" condition. AO34 states, “Current appraisals occur when the effective date of the appraisal Is contemporaneous with the date of the report” In this context, what defines contemporaneous with the date of the report? Response: In USPAP, there are three different types of appraisals: retrospective, current, and prospective. As explained in Advisory Opinion 34, Retrospective and Prospective Value Opinions: Current appraisals occur when the effective date of the appraisal is contemporaneous with the date of the report. Because most appraisals require current value opinions, the importance of specifying both the date of the report and the effective date of the analysis is sometimes lost. 204 c= USPAP Guidance: Frequently Asked Questions oS © The Appraisal Foundation --- Page 293 --- oc « ‘APPRAISAL DEVELOPMENT ~ APPRAISAL DATES “Current” appraisal assignments are based on the effective date of the appraisal being contemporaneous with the date of the report. Contemporaneous means arising, existing or occurring during the same time period. In this context contemporaneous is not intended to mean simultaneous. Because the “same time period” may very well differ from assignment to assignment, one single specific time period cannot be provided that can be used for all assignments. 152. COMPETENCY AS OF EFFECTIVE DATE OF THE APPRAISAL Question: Can an appralser prepare a retrospective appralsal, with an effective date of appralsal as of five years ago, If that appralser wasn't even an appralser five years ago? Response: Yes. The appraiser must comply with the COMPETENCY RULE at the time the appraiser develops the appraisal, regardless of the effective date of the appraisal (date of value). If the appraiser is to develop a value opinion, be it retrospective, prospective, or current, the appraiser must be able to deal with the nuances of such an assignment at the time he or she is performing the assignment (eg. to research data associated with the retrospective, prospective, or current effective date of the appraisal and to analyze the data in light of market conditions as of that date). It is not necessary for the appraiser to be, or to have been, a competent appraiser as of the effective date of the appraisal. An appraiser could develop a retrospective appraisal with an effective date of the appraisal that Is prior to the appraiser's own date of birth. Likewise, an appraiser could develop a prospective appraisal with an effective date of the

Chief Appraiser Says Reading the actual guideline text below — never a general AI guess

# FHA Appraisal Validity Period Here's what we found: According to the FHA handbook, an appraisal is valid for 180 days from the effective date of the appraisal report. FHA provides an automatic 30-day extension beyond that expiration date if there are delays caused by bankruptcy, court issues, or other circumstances outside the lender's control. If the lender needs an extension beyond the automatic 30 days, they have to request and get HUD's approval through EVARS. It's also worth noting that USPAP (the professional standards appraisers follow) doesn't set validity periods itself—instead, different organizations like VA, FHA, and Fannie Mae each establish their own requirements. Straight from HUD/FHA Single Family Handbook 4000.1 and 2024 USPAP — nothing added.

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