If the original appraisal has expired, the lender can:
• enter the data for a second appraisal under the existing case number; or
• request cancellation of the existing case number and order a new case number.
If logging a second appraisal under the existing case number due to appraisal expiration, “Original Appraisal Expired” must be selected as Second Appraisal Reason. Once the second appraisal is entered, that appraisal is used in the loan-to-value (LTV) and maximum mortgage calculations.
The second appraisal expires 120 days past the effective date of the appraisal.
The FHA Connection Guide is available at https://entp.hud.gov/idapp/html/mrtg-pkg.cfm