1.Implementation Dates

On page 10 of the Transmittal, FHA outlines when each section’s changes take effect:

Sections II.D and II.F:
These can also be adopted right away, but must be used for appraisals with effective dates on or after April 10, 2025.

2.What’s New

Property Acceptability Criteria: Language now refers to the appraiser’s “observation” instead of “examination” (pages 182 & 606). This clarifies that the appraiser’s job is to observe and note any potential property issues.

Information Before Appraisal: The requirement to obtain “other legal documents” now specifically refers to property-related legal documents (page 815).

Defective Paint: Existing guidance on repairing defective exterior paint is refined (page 841), noting that unpainted surfaces aren’t subject to the same repair requirement.

3.Quality Control & Reporting

Under Section V. Quality Control (page 1732): (a) All Material Findings must be reported by lenders; and (b) Any findings of fraud or misrepresentation must be reported to FHA immediately.

4.Appendix 2: Analyzing IRS Forms

In the updated language (pages 1790–1792), FHA emphasizes that if a borrower has a home office, the associated expenses can be added back on Schedule C. This policy remains consistent but is now clearly stated in the Handbook.

5.Wrap-Up

These revisions aim to streamline FHA guidance and make existing policies clearer. You can start applying these updates right away, but remember the firm deadlines beginning April 10, 2025. Proactive adoption will help you stay compliant and give your staff enough time to adjust workflows.