HUD Updates REO Lead-Based Paint Appraisal Reporting Requirements - Mortgagee Letter 2010-17

Handbook Change

Appendix A, Section A-3, bullet two is being replaced in its entirety with the language below: 

"If the appraiser observes defective paint in a home that was built before 1978, in the physical deficiencies or adverse conditions section of the appraisal report, the appraiser must enter an “X” in the “Yes” box, and note all areas affected. However, if the appraiser does not observe defective paint in a home that was built before 1978, an explanation is not required in the physical deficiencies or adverse conditions section of the appraisal report."

If you should have any questions concerning this Mortgagee Letter, call 1-800-CALLFHA. Persons with hearing or speech impairments may access this number via TDD/TTY, by calling 1-877-TDD-2HUD (1-877-833-2483). 

Download HUD-FHA ML 2010-17 - Lead Paint