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AMC and the ability to dicuss issues with underwriters

Discussion in 'Urgent - Help Needed' started by melissa995, Sep 17, 2011.

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  1. melissa995

    melissa995 Sophomore Member

    2
    Jun 19, 2008
    Professional Status:
    Licensed Appraiser
    State:
    Colorado
    I sent some concerns to AMC about issues with a 1980 Manufacture home and site to an AMC to forward to underwriter as per a class I took with the appraisal institute said discuss concerns before continuing report. These were the issues.

    Client & AMC

    Concerns about FHA financing and the property

    1)The septic has never been pump-out. County require pump reports. The septic should be check by county before proceed with this appraisal. The manufactured home must be permanently connected to a septic tank or sewage system and to other utilities in accordance with local and state requirements. Also I did not find a clean out!!!


    2)The manufactured home must be built in compliance with the Federal
    Manufactured Home Construction and Safety Standards that were
    established June 15, 1976 (as amended and in force at the time the home
    is manufactured) and that appear in HUD regulations at 24 C.F.R. Part
    3280. Compliance with these standards will be evidenced by the presence
    of a HUD Data Plate that is affixed in a permanent manner near the main
    electrical panel or in another readily accessible and visible location.”

    THE data plate has been removed.
    The roof surface can not be inspected because it has a permanent wood canopy.

    The installation and flooring in the crawl space is torn up and piece of the rotten floor is present, interior flooring has been replace. It is difficult to tell if bottom floor is rotten covered by new flooring.
    The remain economic life may be a concern for loan term.

    If the property is not situated on a publicly dedicated and maintained
    street, then it must be situated on a street that is community owned and
    maintained or privately owned and maintained. There must be adequate
    vehicular access and there must be an adequate and legally enforceable
    agreement for vehicular access and maintenance. Fannie Mae Announcement 03-06
    There is not a maintenance agreement for the private road.

    If the appraiser is unable to develop an
    appraisal based on at least two comparable sales of similar
    manufactured homes, the mortgage is not eligible”
    I sent photos of issues

    Response#1"Good Afternoon! We have asked the lender to provide a copy of the purchase agreement, but not received it yet. Please try to obtain a copy from the property contact. If you get a hold of the purchase agreement, please provide a copy to our team by uploading to this order via the "Add Documents" button or by faxing to 913-748-8985. Thanks so much"
    Sent another message "I do not want contract I need to communcate with client/underwriter.
    Response#2 "Good morning! Thank you for the infromation please proceed with the report. If there are inspection that are called for please make it subject to those inspection. In regards to the repair, crawl, ETC. if they effect livablity, health and safety, or stuctural please mark those subject to as well. By making it subject to it would appear that this would also address the economic life because it would be subject to being fully repaired. Please disclose and discuss all other issues within addendum. Please expand your search in time and distance to find three comps. and provide commentary addressing your expanded search criteria. Please let us know if we can be any more help. Thank you! - Nate"

    This is a major problem not being allowed by AMC to communicate with client. Should I just withdraw? This will probably be my last FHA assignment for AMC that does not allow communicating with client when necessary.
     
  2. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    140
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    Tell them to go stick a sock in it, and pass on the assignment...
     
  3. melissa995

    melissa995 Sophomore Member

    2
    Jun 19, 2008
    Professional Status:
    Licensed Appraiser
    State:
    Colorado
    Thank You very Much That is what I thought, I also thought the frank dobb bill allow us to communicate with client per USPAP. Something is really messed up, I understand not talking about value but there are many other issues to communicate about, sometimes.
     
  4. incognito

    incognito Senior Member

    0
    Jul 14, 2005
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    What does your mentor say? You are not an FHA approved appraiser (must be certified). I would start there? Why are you quoting FNMA guidelines on an FHA appraisal?
     
  5. melissa995

    melissa995 Sophomore Member

    2
    Jun 19, 2008
    Professional Status:
    Licensed Appraiser
    State:
    Colorado
    I am certified and on roster! the guidelines are according to Appraisal Institute- FHA CLASS - The quote are direct from my text book from FHA class appraisal institute finished 08/11
    I DID START WITH FHA APPROVED APPRAISER, WAS ASKING FOR ADVISE FROM MY PEERS and hoping to bring some more attention to the risk of AMC's involvement. My mentor does commerical only, still communicate but has not been my mentor for over two years! 5 years in business still a rookie, will be rookie alway because there is always more to learn. Thank for reply, but was not assistance.
     
  6. melissa995

    melissa995 Sophomore Member

    2
    Jun 19, 2008
    Professional Status:
    Licensed Appraiser
    State:
    Colorado
    Thank you I wanted to make sure I was correct, just responded to them to take me off roster and remove me from the assignment.
     
  7. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    140
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    If more folks would buck up over these issues, the lenders would have to listen...

    I think that if the economy does pick up (and that might be several years) there is going to be an incredible shortage of appraisers. I think for commercial and ag appraisers, I don't know anyone doing that who is not busy. So take your CG courses and work to upgrade to CG...that gives you extra options.
     
  8. Walter Kirk

    Walter Kirk Senior Member

    9
    Jun 24, 2003
    Professional Status:
    Licensed Appraiser
    State:
    New Jersey
    If the AMC is too stupid to properly address your concerns simply appraise the property as-is. You should also:
    1) note that it does not comply with FHA guidelines and does not qualify for insured fiancing.
    2) send in your bill .
    3) cash the check.
     
  9. PropertyEconomics

    PropertyEconomics Elite Member

    0
    Jun 19, 2007
    Professional Status:
    Certified General Appraiser
    State:
    New Mexico
    Id still love to know how an "apprentice appraiser" is on the FHA list ......
     
  10. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    140
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    because they haven't updated their profile...She was a trainee in 2008...
     
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