Starting this June 27th, all FHA-approved mortgagees will be required to use the FHA’s new Electronic Appraisal Delivery (EAD) portal to submit their appraisal data to the administration. Is your lending institution prepared for this industry-wide change?
The EAD portal will only allow uploads of appraisals that comply with the FHA’s Appraisal Report and Data Delivery Guide, and will check said appraisal data submissions against all FHA appraisal data requirements – providing error messages and/or warning notifications for lenders to review or remedy.
Global DMS Integrates eTrac® w/ FHA’s EAD Portal
Global DMS has officially integrated its Global Kinex® application with the EAD portal, providing its clients with direct access to the FHA’s new appraisal submission tool. Activating this new EAD portal connection within eTrac is seamless, with a setup time of less than 10 minutes.
Global Kinex’s direct integration will allow users to manage their EAD credentials, upload up to 3 appraisal files at a time, and manage the EAD submission process to address hard-stops in real-time – offering automatic hard-stop overrides when available.
All EAD submissions through Global Kinex are searchable, and the app will also upload the EAD SSR file as an attachment to the appraisal order when applicable. In addition, EAD submission automation is also available through eTrac’s Workflow Engine to help streamline the process even further.
Mandatory EAD Migration
In order to begin using the new EAD portal, mortgagees must first migrate their appraisal data reports to the portal by registering with HUD for an onboarding phase in FHA Connection (FHAC). Once a mortgagee has registered, they will not be able to access the new EAD portal until their phase has begun.
In addition, mortgagees must also select and register their EAD Administrator(s) via FHAC, who will then in-turn receive EAD access credentials from HUD. Mortgagees with multiple FHA Lender ID’s must register an EAD Administrator for each Lender ID during their onboarding phase.
Please note that you will not be able to access the FHA’s EAD portal from within eTrac, or in general, until you complete an onboarding phase with HUD and receive the proper access credentials.
For more information, including an EAD overview as well as numerous links to valuable FHA resources, check out our EAD Portal Help webpage.