The HUD 54114 form, titled "Direct Endorsement Underwriter/HUD Reviewer Analysis of Appraisal Report," plays a critical role in the U.S. Department of Housing and Urban Development's efforts to maintain integrity and accuracy in the appraisal process of properties financed through its programs. Approved under OMB Approval No. 2502-0477, with a public reporting burden estimated at an average of three minutes per response, this form facilitates a meticulous review by underwriters and HUD reviewers, focusing on the appraisal report's overall quality, completeness, consistency, and accuracy. It demands an assessment of whether the appraisal provides a fair and consistent analysis, if the comparables used are acceptable, and if the adjustments made are justified, both in terms of items adjusted and the amounts allocated. Furthermore, it probes into whether the appraiser's estimated value is acceptable for HUD/FHA loan purposes, including if there's a need for corrections and necessitates comments on any repair conditions or other pertinent observations. This document, with its rigorous scrutiny of appraisal reports, underscores the department's commitment to ensuring that properties financed through its programs are fairly and accurately valued, safeguarding both the interests of the borrowers and the integrity of the housing finance system.
| Question | Answer |
|---|---|
| Form Name | Form Hud 54114 |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | 54114 why use direct endorsement underwriter hud reviewer analysis of appraisal form |
Direct Endorsement Underwriter/
HUD Reviewer
Analysis of Appraisal Report
U.S. Department of Housing OMB Approval No.
Office of Housing
Federal Housing Commissioner
Public reporting burden for this collection of information is estimated to average 3 minutes per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information.
This agency may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number.
Borrower's Name
Property Address
FHA Case Number |
Lender Loan Number |
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Appraiser's Name
Appraiser's Estimate of Value: $
1. |
Does the appraisal report present a consistent and fair analysis of the property? |
Yes |
No (Explain) |
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2. |
Comment on the report's quality, completeness, consistency, and accuracy. |
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3. |
Are the comparables acceptable? |
Yes |
No |
(If not, the appraisal should be returned to the appraiser.) |
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4. |
Are the adjustments acceptable both as to items adjusted and the amount allocated to each item adjusted? |
Yes |
No (Explain) |
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5. |
Is the value acceptable for HUD/FHA loan purposes? |
Yes |
No If not, should it be corrected? |
Yes |
No |
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Value for HUD/FHA loan purposes $__________________________ . Provide justification for correction.
6.Repair Conditions
7.Other Comments
DE Underwriter (Name)
CHUMS Number
Date
DE Underwriter Signature
HUD Reviewer (Name and Signature)
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