What new construction documents must the mortgagee provide the appraiser at assignment?

The Mortgagee must provide the appraiser with a fully executed form HUD-92541, Builder's Certification of Plans, Specifications, and Site, signed and dated no more than 30 days prior to the date the appraisal was ordered.  

For properties 90 percent completed or less, the Mortgagee must provide a copy of the floor plan, plot plan, and any other exhibits necessary to allow the appraiser to determine the size and level of finish of the house they are appraising.  

For properties greater than 90 percent but less than 100 percent completed, the Mortgagee must provide the appraiser with a list of components to be installed or completed after the date of inspection. 

For additional information see Handbook 4000.1 II.A.8.i.v and II.D.1.b 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-04455