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During
Appraisal Logging |
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HECM Appraisals |
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Appraisal logging for
Home Equity Conversion Mortgage (HECM) direct endorsement (DE)
cases varies slightly from other types of cases. Here
are some tips:
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Using the Appraisal Logging Update page, enter HECM appraisals
as soon as possible (information cannot be loaded using the FHA's Electronic Appraisal Delivery (EAD) portal) . |
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Enter HECM appraisals
as soon as possible. |
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The Maximum
Claim Amount is calculated using the Appraisal
Logging Update page and then displayed on the Appraisal
Logging Results page. The Maximum
Claim Amount is needed to determine the upfront
MIP due. |
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The HECM Financial Assessment page may be completed before or after the Appraisal Logging page; however, both must be completed before you can begin entering case information on the HECM Insurance Application page. |
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You are not required
to enter Date of Contract or Contract
Price. |
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