Comment Submitted by Newrez
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Summary: A mortgage lender (Newrez) argues that current FHA Minimum Property Requirements (MPRs) are often more burdensome and less clear than GSE requirements, creating hurdles for borrowers and lenders. They advocate for streamlining these requirements by removing several specific mandates—such as certain paint, power line, and water purification rules—to better align with modern appraisal practices and market standards.
Looking at the questions from a lender's standpoint there are certainly some areas where a FHA appraisal is burdensome to the borrower compared to the expectations of a GSE appraisal. Please see attached list.