Please mark February 15th on your calendars. Why? Because on or after this date, loan officers will no longer be able to order appraisals or have contact with appraisers for FHA loans. The ordering of an FHA appraisal will now be done by appraisal management companies or by a department that is not involved in loan production. This process will now mirror the process for ordering conventional appraisals.
Although I understand and agree with the spirit behind these changes, the fact is that this process takes control out of my hands which means that the process will take longer. If possible, I encourage you to get contracts for FHA purchases to me before February 15th. If you have any questions, please call me.
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