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FHA Revises Handbook on Appraisals

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On October 6, 2016, NAR sent a letter to the Department of Housing and Urban Development (HUD) Secretary Julián Castro thanking him for listening to NAR’s concerns and revising the Single Family Housing Policy Handbook 4000.1 (the Handbook) appliance review requirements for FHA appraisals.

The update to the Handbook, released on September 30, 2016, removed the language that an appraiser “must operate all conveyed appliances and observe their performance,” and replaced it with “must note all appliances that remain and contribute to the market… Read More

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