The Federal Housing Administration announced this week that lenders have an additional year before they must submit appraisals through the FHA Catalyst: EAD Module.

Per a mortgagee letter published on Tuesday, the deadline to onboard for lenders has been moved to March 14, 2023. The previous deadline, announced in mid- 2021, was March 14, 2022.

The administration pushed the timeline for an additional year because stakeholders “expressed concern with the existing timeline,” the ML said.

It’s not clear what specific concerns stakeholders had with the timeline for using the new system. FHA did not respond details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com