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Old 08-15-2007, 04:28 PM
Sbrainard Sbrainard is offline
 
Join Date: Aug 2007
State: Arizona
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Default FHA requirement - Termite Inspection

Until Mortgagee letter 2005-34, I had always, I felt, been required to state that the property was subject to, at the very least, unless it was new construction, a termite inspection report. The letter 2005-34 is not very definitive on the subject, but I have a hard time believing that FHA is leaving it up to the appraiser to find evidence of termites before requiring for a report. The UW is telling me that a termite inspection report is no longer required. What is typical among appraisers to do post 2005-34?
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Old 08-15-2007, 04:32 PM
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Mr Rex Mr Rex is offline
 
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Here you go, see page 2:

http://www.hud.gov/offices/hsg/sfh/appr/aprval.pdf
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Old 08-15-2007, 04:37 PM
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Michael Tipton Michael Tipton is offline
 
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This subject was covered during a recent HUD CE course. Refer to Mortgagee Letter 2005-ML-48.

Inspection Requirements

FHA no longer mandates automatic inspections for the following items and/or
conditions in existing properties:

* Wood Destroying Insects/Organisms: inspection required only if evidence of
active infestation, mandated by the state or local jurisdiction, if customary to
area, or at lender's discretion


http://www.hudclips.org/sub_nonhud/h...d=MLET&s1=05-$[no]&op1=AND&SECT1=TXTHLB&SECT5=MLET&u=../html/shortcut.htm&p=1&r=3&f=G
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