FHA releases electronic appraisal technology for single family submissions

Federal Issues FHA Covid-19 Appraisal

On August 18, HUD announced the availability of a new electronic appraisal delivery module on the FHA Catalyst platform. According to the announcement, the “FHA Catalyst: Electronic Appraisal Delivery” module can be used by lenders to electronically submit, track, and manage single family appraisal reports and updates for FHA Single Family Title II forward mortgages. Assistant Secretary for Housing and Federal Housing Commissioner Dana Wade noted that the new electronic appraisal module is “one more way FHA is supporting the housing market with innovative technology during the COVID-19 economic recovery.” Among other details, Mortgagee Letter 2020-26 states that lenders may begin using the new module on or after September 1.