Appraisal Logging Results Page - Field Descriptions


The field descriptions for the Appraisal Logging Results page are listed below in the order they appear on the page under their sections: Property Information, Neighborhood Fields, Site Fields, Physical Characteristic Fields, Property Title Information, Prior Sale Information, Reconciliation Fields, HECM Information, User Certification, Presidentially Declared Major Disaster Area, Appraisal Update, Second Appraisal, Property Flipping, and Appraisal Transfer.

Note: The Property Flipping section is only displayed if a HUD property flipping rule applies to the case.

Field Description
FHA Case NumberUnique 10-digit identifier assigned to the mortgage by the Federal Housing Administration (FHA). The first two positions identify the state in which the property is located, the third position identifies the HUD Field Office territory in which the property is located, the next six positions identify the serial number, and the final position is the check digit.Note: If a second appraisal is required, the following statements appear below the case number: First/Second Appraisal, First/Second Appraisal Data Used for Case Processing.
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Property Information
Address
-or-
CHUMS Address

House number, street name, city, state, and zip code of the property (including unit number, if applicable). Address on record in HUD's Computerized Homes Underwriting System (CHUMS). Note: For proposed construction or property under construction, lot, block, and plat numbers may identify the property instead of a house number and street name.

EAD Address Address in the electronic appraisal report submitted via the Electronic Appraisal Delivery (EAD) portal. This field is only initially displayed for electronic appraisal reports submitted via the EAD portal on or after April 6, 2015.
EAD Condo Unit Number of the condominium unit submitted via the EAD portal. Note: If a unit number was not provided by EAD, the field is blank.
FHA Catalyst Address Address in the electronic appraisal report submitted via the FHA Catalyst portal.
FHA Catalyst Condo Unit Number of the condominium unit submitted via the FHA Catalyst portal. Note: If a unit number was not provided by FHA Catalyst, the field is blank.
I certify that property addresses match Certification that the EAD Address or FHA Catalyst Address closely matches the existing Address for the property in CHUMS. Note: This field appears when there is a discrepancy between the two addresses.
PUDPlanned Unit Development (PUD) indicator. Source: Appraisal Report, Subject section, PUD.
Construction Code Building status, including:
Proposed Construction: Property where no concrete or permanent material has been placed. (Digging of footing is not considered permanent.)
Substantial Rehabilitation: Property is being repaired and mortgage is being insured under Section 203(k).
Under Construction: Construction period from the first placement of permanent material to 100 percent completion with no Certificate of Occupancy or equivalent.
Existing Construction: Construction is 100% complete and the building is habitable. Note: Used for an existing building more than one year old.
New Construction (Less than 1 Year): Property that is 100 percent complete and was completed less than one year from the date of the issuance of the Certificate of Occupancy or equivalent. The property was never occupied.
Year Built Date the existing construction (building) was completed. For cases with a Construction Code of Proposed Construction or Under Construction assigned an FHA case number after April 11, 2015, this is the year of the Effective Date of the Appraisal or the year after the Effective Date of the Appraisal, if an appraisal was logged. If an appraisal was not logged, this is the year the case number was assigned or one year after case number assignment. Source: Appraisal Report, Sales Comparison Approach section, Actual Age.
Effective Age Effective age of the improvements; condition of the property relative to similar competitive properties. Note: This field may be blank for cases with an Appraisal Logged Date earlier than July 16, 2005. Source: Appraisal Report, Improvements section, Effective Age (Yrs).
Appraisal Received DateMonth, day, and year (mm/dd/yy) the Appraisal Report was received by the lender.
Date of ContractMonth, day, and year (mm/dd/yy) the property was sold. Source: Appraisal Report, Contract section, Date of Contract. (Only applicable to a purchase case, including a HECM purchase.)
Contract Price Contract sales price of the property. Source: Appraisal Report, Contract section, Contract Price. (Only applicable to a purchase case, including a HECM purchase.)
Borrower Paid Appraiser Required Repairs Cost of repairs required by the appraiser to meet HUD’s Minimum Property Requirements (MPR) that are paid for by the borrower. This is only applicable to a purchase case and the repair costs may be added to the sales price before calculating the maximum mortgage amount, if required conditions are met. Sources: Appraisal Report and sales contract or addendum.
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Neighborhood Fields
LocationType of area surrounding the property. Source: Appraisal Report, Neighborhood section, Neighborhood Characteristics, Location.
Predominant Neighborhood PriceAverage price for a dwelling within the neighborhood. Source: Appraisal Report, Neighborhood section, Pred.
% Land UseEstimate of the type of land usage in the neighborhood.
One-Unit: Percentage of neighborhood dwellings designed to house only one family.
2-4 Unit: Percentage of neighborhood dwellings containing two to four separate and complete living units designed to house from two to four families.
Multi-Family: Percentage of neighborhood dwellings containing more than four separate and complete living units designed to house more than four families (multifamily).
Commercial: Percentage of neighborhood dwellings intended for commercial use such as retail and wholesale stores, offices, restaurants, and hotels.
Source: Appraisal Report, Neighborhood section, Present Land Use %.
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Site Fields
Site AreaSize of the property.
Sq Ft: Square footage of the property.
Acres: Total property acreage.
Source: Appraisal Report, Site section, Area.
Type Classification of the structure of the dwelling. Source: Appraisal Report, Improvements section, General Description, Type (condominium: Project Information section, Project Description).
Manufactured HousingIndicator for specifying whether the dwelling is a manufactured home. Source: Appraisal Report.
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Physical Characteristic Fields
FoundationProperty's primary type of foundation. Source: Appraisal Report, Improvements section, Foundation.
RoomsTotal number of rooms above grade in the dwelling. Source: Appraisal Report as follows:
One Unit and Manufactured: Improvements section, Finished area above grade contains, Rooms
Condominium: Unit Description section, Finished area above grade contains, Rooms
Two to Four Units: Improvements section, Unit # contains, Rooms (total for all units)
BedroomsTotal number of bedrooms above grade in the dwelling. Source: Appraisal Report as follows:
One Unit and Manufactured: Improvements section, Finished area above grade contains, Bedrooms
Condominium: Unit Description section, Finished area above grade contains, Bedrooms
Two to Four Units: Improvements section, Unit # contains, Bedroom(s) (total for all units)
BathsTotal number of bathrooms above grade in the dwelling and any full bathrooms below grade. Source: Appraisal Report as follows:
One Unit and Manufactured: Improvements section, Finished area above grade contains, Bath(s)
Condominium: Unit Description section, Finished area above grade contains, Bath(s)
Two to Four Units: Improvements section, Unit # contains, Bath(s) (total for all units)
Living AreaTotal square footage of the living area above grade. Source: Appraisal Report as follows:
One Unit and Manufactured: Improvements section, Finished area above grade contains, Square Feet of Gross Living Area Above Grade
Condominium: Unit Description section, Finished area above grade contains, Square Feet of Gross Living Area Above Grade
Two to Four Units: Improvements section, Unit # contains, Square Feet of Gross Living Area Above Grade (total for all units)
Central AirIndicator for specifying whether the dwelling has central air conditioning. Source: Appraisal Report, Improvements section, Cooling, Central Air Conditioning (condominium: Unit Description section, Central AC).
Car StorageType of parking facility. Source: Appraisal Report, Improvements section, Car Storage (condominium: Unit Description section, Car Storage).
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Property Title Information
Estate Will be Held in
-or-
Property Title Held as [HECM only]
Indicator specifying how the property rights are held. Source: Appraisal Report, Subject section, Property Rights Appraised, URLA, section II. Property Information and Purpose of Loan, Fannie Mae form 1009, section II. Primary Residence Property Information, or form HUD-92900-LT, Property Rights.
Leasehold Expiration Date Date of the expiration of the lease for property held by lease. Sources: URLA, section II. Property Information and Purpose of Loan or Fannie Mae form 1009, section II. Primary Residence Property Information.
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Prior Sale Information
Was prior sale of this property within the past 3 years?Indicator specifying whether the property was sold or transferred within the last three years.
Prior Sale/Transfer within 3 yrs: The property was sold or title to the property was transferred within three years of the prior sale of the property.
Foreclosure within 3 yrs: The property was resold within three years and was acquired due to loan foreclosure.
No Sale/Transfer within 3 yrs: The property was not sold or title to the property was not transferred within three years of the prior sale of the property.
Source: Appraisal Report, Sales Comparison Approach section, My research did/did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.
Date of Prior Sale/Transfer Month, day, and year (mm/dd/yy) the property was previously sold or transferred. Source: Appraisal Report, Sales Comparison Approach section, Date of Prior Sale/Transfer Date, Subject.
Price of Prior Sale/Transfer Contract sales the property was previously sold or transferred Source: Appraisal Report, Sales Comparison Approach section, Price of Prior Sale/Transfer, Subject.
For refinance transactions only where property was acquired within the last 12 months:
Was prior sale/transfer a result of family gift or inheritance? For a refinance case, this is an indicator specifying:
Yes: Borrower acquired the property through a family gift or inheritance within 12 months of the Date of Prior Sale/Transfer.
No: Borrower acquired the property within 12 months of the Date of Prior Sale/Transfer, but not through a family gift or inheritance.
N/A: Not applicable; case is a purchase mortgage or property was not acquired within 12 months of the Date of Prior Sale/Transfer.
Cost of Improvements made subsequent to Prior Sale If the property was acquired within 12 months of the Date of Prior Sale/Transfer but not through a family gift or inheritance, this is the documented cost of improvements made subsequent to the last transaction for the subject property.
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Reconciliation Fields
Appraisal Type Classification of the appraisal.
As-Is: Estimate of the market value of real property in its current physical condition, use, and zoning as of the appraisal date.
Subject to: Appraised value of the property subject to completion, repairs and improvements, and/or plans and specifications.
Appraised Value Appraiser's estimate of the market value of the property. See Handbook 4000.1 for additional information on products, programs, or for details on which value is used when a second appraisal is present (e.g., 203(k), Flipping). Note: This field is auto-filled once the electronic appraisal has been uploaded through the Electronic Appraisal Delivery (EAD) of FHA Catalyst portal. Source: Appraisal Report, Reconciliation section.
Actual Appraiser (State Certification or License No.)ID of the FHA-approved appraiser who performed the appraisal; state license or certification number preceded by the two-character state code. Source: Appraisal Report, Appraiser's Certification, Appraiser, State Certification #, State License #, or Other.
Actual Appraiser NameLast name, first name and middle initial of the appraiser who performed the appraisal Source: Appraisal Report, Appraiser's Certification, Appraiser, Name.
Effective Date of AppraisalMonth, day, and year (mm/dd/yy) the property was appraised. Appraisal is valid up to a specific number of months after this date, depending on the type of case. Source: Appraisal Report, Reconciliation section, Based on a complete visual inspection ... as of ..., which is the date of inspection and the effective date of this appraisal.
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HECM Information
Maximum Claim Amount The lesser of:
appraised value,
maximum mortgage allowed by FHA under Sec. 305(a)(2) for a single family home in the area, or
the sales price of the property being purchased for the sole purpose of being the principal residence.
Initial (upfront) mortgage insurance premium is based on this amount.
Initial Principal Limit (IPL) Maximum amount, established at loan closing, the borrower may receive from the HECM before any disbursements are made. Maximum Claim Amount multiplied by the principal limit factor corresponding to the age of the youngest borrower and expected average mortgage interest rate. Sources: Form HUD-92900-A, line 7 or Home Equity Conversion Loan Agreement, Exhibit 1 - Payment Plan.
Initial MIP Factor Percentage used for calculating the initial (upfront) mortgage insurance premium (MIP). For mortgages assigned an FHA case number on or after October 2, 2017, the current rate is displayed and is view only. For mortgages assigned a case number before October 2, 2017, one of the following rates is selected:
0.5%; <= 60% IPL: Maximum Claim Amount multiplied by 0.5% if the sum of Mandatory Obligations (Does not include cash), Taxes/Insurance 1st Yr Payments, Additional 10% of IPL Usage Amount, and Repair Set Aside Amount is less than or equal to 60% of the Initial Principal Limit (IPL).
2.5%; > 60% IPL: Maximum Claim Amount multiplied by 2.5% if the sum of Mandatory Obligations (Does not include cash), Taxes/Insurance 1st Yr Payments, Additional 10% of IPL Usage Amount, and Repair Set Aside Amount is greater than 60% of the Initial Principal Limit (IPL).
Initial Disbursement Limit Maximum amount that may be disbursed to the borrower and/or used for Mandatory Obligations, set asides, and other charges incurred with originating the HECM at:
loan closing and/or during the first 12-month disbursement period after loan closing (begins on day of loan closing and ends on the day before the anniversary date of loan closing), or
loan closing only for the Lump Sum Disbursement Payment Plan.
For mortgages assigned an FHA case number on or after September 19, 2017, this is the lesser of A or B below:
A. The greater of 60% of the Initial Principal Limit (IPL) or the sum of Mandatory Obligations (Does not include cash) and Additional 10% of IPL Usage Amount available during the first 12-month disbursement period, not to exceed 100% of the Initial Principal Limit (IPL).
B. Initial Principal Limit (IPL) amount less the sum of the Net LESA and Servicing Fee Set Aside, not to exceed 100% of the Initial Principal Limit (IPL).
For mortgages assigned an FHA case number before September 19, 2017, this is the greater of 60% of the Initial Principal Limit (IPL) or the sum of Mandatory Obligations (Does not include cash) and Additional 10% of IPL Usage Amount available during the first 12-month disbursement period, not to exceed 100% of the Initial Principal Limit (IPL).
Mandatory Obligations (Does not include cash) Financed fees and charges incurred in connection with the origination of the mortgage that are paid at loan closing (e.g., initial (upfront) mortgage insurance premium, loan origination fee, HECM counseling fee, first year disbursements from life expectancy set aside for payment of property taxes and hazard/flood insurance bills, etc.).   Note:  The sum of financed mandatory obligations cannot exceed the available principal limit. SourcesHome Equity Conversion Loan Agreement, Exhibit 1 - Payment Plan, Exhibit 2 - Schedule Closing of Costs/Schedule of Liens, and Exhibit 3 - Repair Rider, Settlement Statement/Closing Disclosure, and Credit Report.
Mandatory Obligations Cash from Borrower Amount of "cash" the borrower is required to bring to loan closing to satisfy the difference between the Initial Principal Limit amount and the amount of mandatory obligations. Sources: Home Equity Conversion Loan Agreement, Exhibit 1 - Payment Plan and Exhibit 2 - Schedule Closing of Costs/Schedule of Liens, and Settlement Statement/Closing Disclosure.
Mandatory Obligations Cash from Lender Amount of "cash" the lender will contribute towards the borrower’s mandatory obligations, as documented in the Good Faith Estimate and Settlement Statement/Closing Disclosure. Note: Applicable for traditional and refinance HECM transactions only. Sources: Home Equity Conversion Loan Agreement, Exhibit 1 - Payment Plan and Exhibit 2 - Schedule Closing of Costs/Schedule of Liens, and Settlement Statement/Closing Disclosure.
Taxes/Insurance 1st Yr Payments Amount of HECM proceeds, or funds from a property charge set aside, used to pay property taxes and hazard and flood insurance bills. This amount reflects scheduled payments from the property charge set aside or from HECM proceeds that are paid within the first 12-month disbursement period. Note: This is the sum of the actual insurance premium and tax amounts. If a new tax bill has not been issued, the prior year’s amount multiplied by 1.2 is used.
Repair Set Aside Indicator specifying whether there is a repair set aside (i.e., Loan Agreement has a Repair Rider).
Repair Set Aside Amount Cost of repairs, plus the repair administration fee, if repairs are required to be completed after loan closing and during the first 12-month disbursement period. Amount held in escrow to complete repairs or improvements to the property.
Net LESA Fully or partially funded Life Expectancy Set Aside (LESA) minus Taxes/Insurance 1st Yr Payments. Sources: HECM Financial Assessment and Property Charge Guide and HECM Financial Assessment Worksheet.
Servicing Fee Set Aside Funds used for the payment of the monthly servicing fee that increases each month at a rate equal to one-twelfth of the sum of the expected average mortgage interest rate (Expected rate), plus the annual mortgage insurance premium rate from the date the loan is funded. Source: Mortgagee Letter 2016-10.
Additional 10% of IPL Usage Indicator specifying whether an additional amount of up to 10% of the Initial Principal Limit (IPL) the borrower intends to take at loan closing and/or during the first 12-month disbursement period after loan closing.
Additional 10% of IPL Usage Amount An additional amount, up to 10% of the Initial Principal Limit (IPL), borrower intends to take at loan closing and/or during the first 12-month disbursement period after loan closing.
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User Certification
Certify Effective Date Certification that the reason the Effective Date of Appraisal precedes the date the FHA case number was assigned to the mortgage is due to a change in the mortgage from conventional financing, HUD Real Estate Owned (REO), or government guaranteed to FHA insured, or the previous FHA case number was canceled. Note: Documentation substantiating the conversion of the mortgage to FHA insured must be retained in the case binder.
Presidentially Declared Major Disaster Area
Does this property fall in a presidentially declared major disaster area? Indicator specifying whether the property is located in a presidentially declared major disaster area.
Did this property sustain damage? Indicator specifying whether the property sustained damage as a result of the disaster.
Amount of Damage Indicator specifying whether the amount of damage is $5,000 or more, or less than $5,000.
Appraisal Update
Appraiser (State Certification or License No.) IDID of the FHA-approved appraiser who performed an evaluation of the property; state license or certification number preceded by the two-character state code. Source: Appraisal Update and/or Completion Report, Fannie Mae Form 1004D, Freddie Mac Form 422, Signatures, State Certification #.
Appraiser (State Certification or License No.) NameLast name, first name and middle initial of the appraiser who performed an evaluation of the property (view only; system generated).
Effective Date of Appraisal UpdateUpdated effective date of the appraisal, which can be extended up to 120 days from the original Effective Date of the Appraisal displayed in the Reconciliation Fields section (only if less than 121 days have elapsed since the original Effective Date of the Appraisal).
Certify subject property did not decline in valueCertification that the value of the property did not decrease since the original Effective Date of the Appraisal displayed in the Reconciliation Fields section. Source: Appraisal Update and/or Completion Report, Fannie Mae Form 1004D, Freddie Mac Form 422, Summary Appraisal Report Update, Has the Market Value of the Subject Property Declined ...
Second Appraisal
Exempt from Second Appraisal [Cash-out Refinance]Indicator specifying whether the cash-out refinance case with an LTV ratio greater than 85% is exempt from a second appraisal. Note: Applicable to cash-out refinance mortgages assigned an FHA case number before December 7, 2009.
Second Appraisal ReasonReason a second appraisal was performed.
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Property Flipping
Property May Be Subject to 90-Day Flipping Rule or
Property May Be Subject to Greater Than 90-Day Flipping Rule
Message specifying the HUD property flipping rule that applies to the case.
Flipping Exemption/Applicability Reason

Reason the case is exempt from the property flipping rule or property flipping rule does not apply.
None: Property is subject to property flipping rule.
Properties acquired by an employer or relocation agency: Sale of property purchased by an employer or relocation agency in connection with the relocation of an employee.
Sales by other U.S. Government agencies: Sale by another agency of the United States Government (other than HUD) of a Real Estate Owned (REO) single family property pursuant to programs operated by the agency.
Sales by HUD approved Nonprofits: Sale of property by a nonprofit organization approved to purchase HUD REO single family properties at a discount with resale restrictions.
Sales acquired by the seller through inheritance: Sale of property that was acquired by the seller through inheritance.
Sales by federally-chartered institutions and GSEs: Sale of property by a state- or federally-chartered financial institution or government-sponsored enterprise (GSE).
Sales by local/state government agencies: Sale of property by a local or state government agency.
Sales in Presidentially-Declared Major Disaster Area: Sale of property in a presidentially-declared major disaster area.
Partial title transfer(s) exempt - see binder: Title transfer transaction where one original borrower is retained on the title. A copy of the exempt title transfer or other supporting documentation is in the case binder.
Multiple exempt transfers - see binder: Multiple exempt title transfer transactions. A copy of the exempt title transfer or other supporting documentation is in the case binder.
Initial Builder Sale - N/A: Property flipping rule is not applicable for a new construction home that was never occupied.
-or-
Property Flipping Waived (obsolete) Indicator specifying whether the property flipping rule is waived for the case. Note: Only applicable to the 90-day property flipping rule
Exempt from Second Appraisal [Property Flipping] (obsolete)Indicator specifying whether the case is exempt from a second appraisal for the 91-180 day property flipping rule.
Appraisal Transfer
Appraisal Transfer Indicator specifying whether the appraisal was transferred to the new lender at the time the case was transferred.

See Also

Appraisal Logging - Business Background

Appraisal Logging - Processing

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Last revised: June 1, 2020