Document Updates: Conditional Commitment Direct Endorsement – Case Binder’s Copy (Cx4733), and Conditional Commitment Direct Endorsement – Lender’s Copy (Cx4566)

In  Mortgagee Letter 2022-11 from the U.S. Department of Housing and Urban Development (HUD) dated July 12, 2022, it was announced that the Federal Housing Administration (FHA) initial appraisal validity period has been increased from 120 days to 180 days from the effective date of the appraisal. The Mortgagee Letter also extended the appraisal update validity period from 240 days to one year from the effective date of the initial appraisal report that is being updated.

In order to be compliant with these changes, we have updated Cx4733, Conditional Commitment Direct Endorsement – Case Binder’s Copy, and Cx4566, Conditional Commitment Direct Endorsement – Lender’s Copy, to reflect these changes.

These changes will take effect on August 16, 2022. If You have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.

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The preceding is for informational purposes only and is not and may not be construed as legal advice. No third party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.