Can an appraisal be re-used to facilitate a refinance?

The Mortgagee must order a new appraisal for each mortgage or refinance case number assignment and may not reuse an appraisal that was performed under another case number, even if the prior appraisal is not yet more than 120 days old. 

For additional information see Handbook 4000.1 II.A.1.a.iii.(B)(6) available at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh

All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: KA-04407