d Updated Appraisal Scope of Work Option for Federal Housing Administration (FHA) Single Family Programs Impacted by the Coronavirus Disease of 2019 (COVID-19).

2020-37hsgml.pdf.Extension of Re-verification of Employment Guidance and Updated Appraisal Scope of Work Option Extended to December 31, 2020

 

Today, the Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2020-37, Extension of Re-verification of Employment Guidance and Updated Appraisal Scope of Work Option for Federal Housing Administration (FHA) Single Family Programs Impacted by the Coronavirus Disease of 2019 (COVID-19).

 

Today’s ML further extends the re-verification of employment guidance initially announced in ML 2020-05. It also  extends the appraisal scope of work inspection option providing for Exterior-Only appraisals that limit in-person contact for certain transactions affected by the COVID-19 National Emergency. The Desktop-Only appraisal scope of work option originally announced in ML 2020-05 and last extended in ML 2020-28, is not being extended and will expire on October 31, 2020. It has been determined that with the effectiveness of the Exterior-Only option, provided in ML 2020-05, for certain purchase transactions without any Appraiser visual observation of the property, is no longer necessary.

 

The re-verification of employment guidance is effective immediately for cases closed on or before December 31, 2020. The updated appraisal guidance is effective November 1, 2020. It is applicable to appraisals with an effective date on or before December 31, 2020.