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FHA Unveils New FAQs

The Federal Housing Administration (FHA) last week unveiled a new list of frequently asked questions (FAQ ).  The 26 page document covers a variety of topics on several FHA programs.  Topics include:

New Construction
Wood Destroying Insects/Termites
Utilities – Well and Septic
Inspections & Certifications
Cost Approach
Accessory Dwelling Units
Manufactured Housing
Two Unit Properties
HECMs
Lender Concerns
Reconsideration of Value
203(k)
Appraisal Portability
FHA Appraisals
Title Concerns

Comments
  1. CHARLES LUCIA

    I’M A MI STATE LICENSED APPRAISER AND HAVE HAD OVER 30 YEARS OF APPRAISAL WORK IN MICHIGAN AND ILLINOIS WITH NO BLEMISHES ON MY RECORD, A FEW BLACK LIST FOR THE MAJOR REASON (IWOULD NOT BE THEIR ADVOCATE OR RESPOND TO THEIR 3 TO 4 YEAR CONCERNS). HUD GOES ON RECORD I’M A BAD, BAD APPRAISER BECAUSE I WOULD NOT BECOME STATE CERTIFIED. AND I REFUSE TO BE ON ANY LIST THAT PART OR MOST OF MY FEES GO TO THAT APPRAISAL MANAGEMENT COMPANY. I DO REVIEW APPRAISALS AND DO PRIVATE APPRAISALS. AND INSTEAD OF IMPROVING THE APPRAISAL BUSINESS YOU NOW HAVE A NEW SCANDAL ON YOUR HANDS. GOOD LUCK

  2. I studied diligently, and took my real estate broker exam in a 15 week period of time.
    I thought It would be great to learn the trade, and start a new career. I looked at the market, and our economic situation, & thought to myself… Its slow enough that I can do what it takes to get my license, learn,and with any luck, get some experience and seasoning under my belt, so that when the market turned around, I would be armed with knowledge and know how. Well, my savings is gone…The cost for certified schooling, fees to take a tast, fees to issue me a license, NAR dues, local dues, RLMS dues,business cards, name tags office supplies including a lap top, ( I’m sure I’m missing a couple of dues) three months later, more dues, with a couple of listings and trying to advertising for those listing…
    Well you can see how this is going…No completed transactions to my credit…(close a couple of times, but no cigar) Come January we get to start all over again, All the dues?… are due again. Seasoned agents are having a hard time also, commissions are split with everyone. By the time they receive a commission check for all their hard work…it’s far less than half of what I would think it to be… I have no intentions of giving up…But if everyone keeps slapping us with a “fee”, because they feel they are”due”… I’m going to have to go back to waitressing.

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