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Submit Multiple Appraisals to FHA |
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Mercury Network gives you the ability to submit multiple appraisals to FHA
via the EAD portal for a single loan file. This is useful if the loan requires
more than one appraisal, since all appraisals for a single loan (up to
three of them) are to be submitted under the same Doc File ID in the EAD
portal.
For a more detailed look at this process, click
here.
Here are the general steps for using Mercury Network to submit multiple
appraisals for a single EAD loan file:
- The first appraisal is submitted to the EAD portal and a Doc File ID is
assigned. This becomes "Appraisal 1" for this loan in the EAD portal.
- When the second appraisal is ordered, the Doc File ID from "Appraisal 1"
needs to be manually entered as the Doc File ID for the second order (see instructions here). This way, when the
second appraisal is submitted to the EAD portal, it becomes "Appraisal 2" for
this loan.
- If needed, a third appraisal is ordered, and the existing Doc File ID for
the loan is manually entered on the Mercury Network order. Then, when the
appraisal is submitted, it becomes "Appraisal 3" for this loan in the EAD
portal.
Notice that the key is that you manually enter the loan's Doc File ID on the
Mercury Network orders for "Appraisal 2" and "Appraisal 3" prior to submitting
those appraisals. That's because the Doc File ID tells Mercury Network that an
appraisal was previously submitted for this loan.
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| Note: |
If you submit an appraisal to the EAD portal outside of
Mercury Network, Mercury Network won't be able to see
it.
The EAD portal doesn't communicate "two-ways" regarding your
previously submitted appraisals. So, for example, if you've already
submitted "Appraisal 1" to the EAD portal outside of Mercury Network
and you enter that loan's Doc File ID on an order in Mercury
Network, you'll see "Appraisal 1" is listed as "Empty or unknown"
when you submit to the EAD portal from Mercury Network. That's
because Mercury Network can't see what's already in the portal, but
assumes that there's probably an appraisal there since you have a
Doc File ID. In this case, if you were to complete the submission
for "Appraisal 1," the appraisal you submitted to the EAD portal
outside of Mercury Network would be replaced with the new
report. So, it's important to know if you've submitted a previous
appraisal outside of Mercury Network.
If all your appraisals have been ordered from the appraiser and
submitted to the EAD portal entirely through Mercury Network, you
don't need to worry: Mercury Network will keep track of all of your
submissions based on the Doc File ID you enter on appraisal 2 (and
3, if needed.) | |
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