http://www.realestateappraisertips.info/ – Real Estate Appraiser Tips! Dave Towne: New HUD Mortgagee Letter-Lead paint
My apology to Dave as I’m late publishing his update as he sent this to me on 5/17/2010. Sorry, I’m so deluged with appraisal orders that I haven’t had much extra time to blog here in the last month.
Mortgagee Letter 2010-17 was dated on May 5, 2010, released on 5/17/2010, which changes how defective paint (i.e., lead paint) in homes 1978 or older is reported. This modifies the 4150.2 Handbook.
It also describes how this affects HUD REO properties. See PDF on hud.gov here!.
Dave Towne, Appraiser Education Service”