Resources for COVID-19 Appraisal Issues
REAA will attempt to maintain this webpage with the most up to date infomation. Please verify with the GSE for the most up to date information.
REAA Video: COVID-19: A Guide for Appraisers
How to Keep Safe from COVID-19, Including Tips for Appraisers by Ann O'Rorke, MAI, SRA
U.S Department of Homeland Security
Advisory Memo on Essential Critical Infrastructure Workers (3/28/2020)
*****This is for informational purposes only and should not be relied upon. Please double check the GSE source for specific guidelines for each product. The Appraisal Institute has a much more detailed matrix (here).
FHFA, Fannie Mae and Freddie Mac
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FHFA Announcement for Appraisal Flexilities (3/23/2020)
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FNMA Appraiser's Webpage
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FNMA Lender Letter (LL-2020-04) Appraisal Flexibilities (Updated 6/11/2020)
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Freddie Mac Bulletin 2020-5 (Issued 3/23/2020)
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FNMA DESKTOP Instructions, Scope of Work, Assumptions, Limiting Conditions, and Certificaitons
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FNMA EXTERIOR Instructions, Scope of Work, Assumptions, Limiting Conditions, and Certfications
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FNMA FAQ's
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Freddie Mac Covid-19 Power Point Presentation (download)
FHA/USDA
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FHA Exterior-Only and Desktop-Only Appraisal Options Mortgagee Letter 2020-05 (3/27/2020)
Extended through August 31, 2020 (Mortgagee Letter 2020-20, 6/29/2020) -
FHA DESKTOP Instructions, Scope of Work, Assumptions, Limiting Conditions, and Certifications
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FHA EXTERIOR Instructions, Scope of Work, Assumptions, Limiting Conditions, and Certifications
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FHA FAQ's
Software
Alamode (TOTAL), Bradford Technologies, and ACI have updated their software with prefilled addenda forms following Fannie Mae and Freddie Mac's Covid-19 Modified Set of Instructions, Scope of Work, Statement of Assumptions and Limiting Conditions, and Certification for Desktop Appraisals and Exterior-only Inspections.
Alamode (TOTAL), Bradford Technologies, and ACI have added new prefilled addenda forms following FHA’s Covid-19 Modified Set of Instructions, Scope of Work, Statement of Assumptions and Limiting Conditions, and Certification for Desktop Appraisals and Exterior-only Inspections.
Please note: According to both Fannie/Freddie and FHA’s instructions, you’ll still need to enter “Desktop” or “Exterior” in the Map Reference Field according to the type of appraisal being done.
Instructions for Alamode (TOTAL) Users
Instructions for Bradford Technologies Users
Several software companies have released tools for gathering inspection information and photos from homeowners. They are free to use and some are compatible with software from other vendors.
Alamode (TOTAL)'s PropertyAssist
ANOW's Walkthrough (Requires ANOW subscription)
USDA Rural Development
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USDA Loan Program Temporary Exceptions to Interior Appraisals (3/27/2020)
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USDA COVID-19 Resources and Guidance (9/1/2020)
VA Appraisals
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Circular 26-20-13 "Valuation Practices during COVID-19" (Updated 4/10/2020)
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VA DESKTOP Instructions, Scope of Work, Assumptions, Limiting Conditions, and Certifications (3/27/2020)
The Appraisal Foundation
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Real Property Interior Inspections during a National Health Emergency
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The Appraisal Foundation Q&A's
Valuation Legal: Christensen Law Firm
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Free Webinar "Legal and Risk Issues for Real Estate Appraisers Stemming from the COVID-19 Crisis" (3/18/2020)
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Free Webinar Scheduled for 4/10/2020 "Legal and Risk Issues 2.0 for Real Estate Appraisers Relating to the COVID-19 Crisis"
Other COVID-19 Resources
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State of California Guidance for Real Estate, May 7, 2020
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World Health Organization (WHO) Advice for the Public
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The Risks-Know Them-Avoid Them blog post from an immunologist and professor of biology about risks associated with actitives (new)
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Center for Disease Control (CDC) Coronavirus Page
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California Department of Public Health (CDPH) COVID-19 Page
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Californian Association of Realtors (CAR) Link to all Local County/City Guidlelines
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Economic Update from Jordan Levine, Deputy Chief Economist, CAR, May 12, 2020 (new)
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Economic Update from Jordan Levine, Deputy Chief Economist, CAR, April 9, 2020