EVP Compliance with FHA Appraisal Rules effective January 1, 2010

EVP is fully prepared to enable lender compliance with FHA appraisal guidelines (09-28ml.pdf).  These guidelines are further discussed in FAQ ML09-28.pdf  and FAQ ML09-29.pdf.

In addition to providing appraiser independence, EVP screens all appraiser qualifications to ensure all FHA appraisals are assigned to FHA approved, state-certified appraisers.  Our system automatically disqualifies appraisers whose credentials do not match FHA requirements.  We ensure geographic competency via a system that evaluates appraiser EVP performance measurement and geographic tolerances with every order.

As a full-transparency fee based company, EVP has always promoted full disclosure of all fees regarding an appraisal.  This disclosure is now required by FHA for all appraisals, and will provide lenders with a tool to monitor 3rd party fees for being usual, customary and reasonable.

We are fully prepared to meet your FHA needs for January 1, 2010.  Please give us a call to discuss our seamless implementation.

(877)825-0613