United States
Single Family Housing Guaranteed Loan Program Appraisals
Report Information
Recommendations
Develop and implement an oversight function to asses the quality and accuracy of RHS' administrative appraisal reviews and establish the frequency of its oversight activities.
Develop and implement controls for pre-closing technical appraisal reviews to prevent the issuance of conditional commitments for loan guarantees prior to regional agency apprasiers' determinations that appraisals are acceptable.
Develop and implement a formal process to identify common deficiencies found during pre-closing technical appraisal reviews and QCRs.
Develop and implement a process, including the frequency of communication, to share common deficiencies found during pre-closing technical appraisal reviews and QCRs with all approved lenders and administrative reviewers.
Develop and implement a process, including the frequency of communication, to share all not acceptable QCR results with the responsible lender and administrative reviewer.