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Is a New Case Number Necessary for a 2nd Appraisal on a FHA LOAN (Flip BEFORE 9/14/2015)???

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Anonymous
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Is a New Case Number Necessary for a 2nd Appraisal on a FHA LOAN (Flip BEFORE 9/14/2015)???

Hello,

 

 

Prior to September 14th I signed a purchase contract for a new house. YAY!!!!!!!

 

October, lenders says a new case number is needed because the property is a flip.  After almost a week of worry and near tears, the lender discovered that was not the case. We voided the original contract, it is null and void.  We waited post 90 days seasoning and wrote a new contract under the same case number. We moved forward with the loan. 

 

November, underwriter says 2nd appraisal will require a new fha case number because the first appraisal was based on a purchase contract prior to the 90 day seasoning(the same issue from October that was resolved!!!!!). 

 

 It has been almost 3 months trying to close and 5 credit pulls since August.  I am in the 700s for credit score...Is there an Underwriter/ LO with knowledge or anyone who has been through this that can answer this question and point me in the right direction?   Smiley Sad

 

Thank you.

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