FHA issued Mortgagee Letter 2021-27, updating and clarifying appraisal requirements regarding compliance with Fair Housing laws. Per the Mortgagee Letter FHA:
- updated Section I.B.1.d.i (Appraisers Post-Approval Requirements) of the Single Family Housing Policy Handbook 4000.1 (Handbook 4000.1) to emphasize compliance with all applicable laws including the Fair Housing Act and all other federal, state, and local antidiscrimination laws;
- added clarifying language to Sections A.1.a.iii(B)(6)(a) (Appraisal Integrity), and II.A.3.a.v (Quality of Appraisal) of Handbook 4000.1 to emphasize the requirement for the mortgagee to ensure the appraisal complies with all applicable laws including the Fair Housing Act and all other federal, state, and local antidiscrimination laws; and
- restructured Section II.D.2 (General Appraiser Requirements) of Handbook 4000.1 to better clarify guidance specific to Nondiscrimination Policy, compliance with FHA guidelines and Uniform Standards of Professional Appraisal Practices, and Appraiser Conduct.
The Mortgage Letter is effective immediately.
Click the view the FHA Mortgagee Letter 2021-27: https://www.tenaco.com/wp-content/uploads/2021/11/FHA-Mortgagee-Letter-2021-27-11-17-21.pdf
