In recognition of the unique challenges posed by the COVID-19 National Emergency, FHA issued a temporary partial waiver of appraisal field review requirements in June 2020, which provided Mortgagees with flexibility to use third-party valuation tools as an alternative to field reviews. A subsequent waiver was issued in December 2020, which extended the field review flexibility until further notice.
Mortgagee Letter 2021-17 serves as notice that the temporary waiver remains in effect for Mortgages selected for QC review through June 30, 2021 and expires thereafter. The updated guidance in Mortgagee Letter 2021-17 applies to Mortgages selected for QC review on or after July 1, 2021.
For additional information, see:
- Mortgagee Letter 2021-17 available at: https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee
- FHA INFO Notices #20-44 and #20-90 available at: https://www.hud.gov/program_offices/housing/sfh/FHA_info_messages
- June 2020 waiver available at: https://www.hud.gov/sites/dfiles/OCHCO/documents/PartialQCFieldWaiver.pdf
- December 2020 waiver extension available at: https://www.hud.gov/sites/dfiles/OCHCO/documents/AppraisalFieldReviewWaiver.pdf
- Handbook 4000.1 available at: https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh