The Federal Housing Administration (FHA) announced mandatory transition dates for mortgagees to submit appraisals for both single family forward and reverse mortgage endorsements through its FHA Catalyst software. This is according to the publication of Mortgagee Letter (ML) 2021-23.
In the document, FHA specifies all the dates at which submissions through Catalyst will become mandatory. Effective on and after March 14, 2022, appraisal delivery through the FHA Catalyst: Electronic Appraisal Delivery (EAD) Module is mandatory for all cases unless a previous appraisal version has been submitted to the legacy EAD portal, the letter explains.
The ValueLink team has been working on the integration and we will start rolling it out to our customers next month.
To prepare yourself for the upcoming change, please follow the instructions listed below:
Fill out this form provided by the FHA, instructions to fill out the form are provided below:
In the FHA Approved Mortgage Information section:
• If you’re an FHA Approved Mortgagee, check Lender/Servicer
• If you’re an AMC, check Service Bureau
For Authorized Party Information, check Software Platform Company. Then in the section below, use the following information.
• Entity Name: ValueLink Software
• AP Role: Software Platform Company
• Catalyst Module: Electronic Appraisal Delivery
• API Token Needed: Yes
• Business Point of Contact: Farrukh Omar, firstname.lastname@example.org
• Technical Point of Contact: ValueLink Support, email@example.com
When you’ve completed the form, send it to FHACatalyst@hud.gov
We appreciate your business and look forward to supporting your team through this transition, plus many more exciting opportunities to come in 2022.
Looking forward to seeing you there!