In order to receive and process Federal Housing Administration (FHA) compliant appraisal reports; ACT Appraisal will implement appraisal submission to the FHA Electronic Appraisal Delivery Portal effective June 27th 2016.
What does this mean for you?
Format the appraisal per the Single Family Appraisal Report and Delivery Guide - including specific information on each field, for each appraisal report form, and the protocol that appraisers must follow to complete the field.
The FHA case number must be formatted as a 10-digit numeric ex: as xxx-xxxxxxx:
For the Site Size field, do not insert a comma or other punctuation.
For fields with monetary data (for instance, the value of the subject property or the prior sale price), do not include a dollar sign ("$") ahead of the numeric data.
Limit file size - A well-supported appraisal file with exhibits, maps, etc. should typically require less than four megahertz.
Click the links below, to review the FHA Appraisal Data Delivery Guide for Lenders and Appraisers:
