Home Lenders FAQs - Lenders Can an FHA Appraisal be transfered from one lender to another lender?
Can an FHA Appraisal be transfered from one lender to another lender?

In cases where a borrower has switched lenders, the first lender must, at the borrower’s request, transfer the case to the second lender. FHA does not require that the client name on the appraisal be changed when it is transferred to another lender.

In accordance with the Uniform Standards of Professional Appraisal Practice (USPAP), the lender is not permitted to request that the appraiser change the name of the client within the appraisal report unless it is a new appraisal assignment. To effect a client name change, the second lender and the original appraiser may engage in a new appraisal assignment wherein the scope of work is limited to the client name change. A new client name should include the name of the client (lender) and HUD.

Source: www.hud.gov, Mortgagee Letter 2009-29

 

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