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Old 03-16-2011, 11:27 AM
Value Ninja Value Ninja is offline
 
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Default FHA final inspection for worn roof

I recently submitted a report that required a roof inspection, based on the extra-ordinary assumption that the condition does not require repair (check box #4 in the Reconciliation section). I know how this is supposed to work... lender to have inspected, put inspection letter with the file, and forward to underwriting, with no additional action from the appraiser. But, the lender is still calling for a 'final inspection' from the appraiser. This puts the appraiser in the position of rendering an opinion on an opinion (the roof inspection report).. Also the HUD CI form (92051) requries an actual physical inspection.... What am I to inspect, the same old roof I looked at 8 days ago? .....with comments clearing the condition via the third party inspection report? Makes no sense......

Hard headed lender insists that any conditioned report must have a final inspection. Can anyone help with a reference, or published HUD guidance on this issue. How have others handled this lender problem? Thanks for your input
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Old 03-16-2011, 01:19 PM
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Peter LeQuire Peter LeQuire is offline
 
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Quote:
Originally Posted by John McAnnally View Post
I recently submitted a report that required a roof inspection, based on the extra-ordinary assumption that the condition does not require repair (check box #4 in the Reconciliation section). I know how this is supposed to work... lender to have inspected, put inspection letter with the file, and forward to underwriting, with no additional action from the appraiser. But, the lender is still calling for a 'final inspection' from the appraiser. This puts the appraiser in the position of rendering an opinion on an opinion (the roof inspection report).. Also the HUD CI form (92051) requries an actual physical inspection.... What am I to inspect, the same old roof I looked at 8 days ago? .....with comments clearing the condition via the third party inspection report? Makes no sense......

Hard headed lender insists that any conditioned report must have a final inspection. Can anyone help with a reference, or published HUD guidance on this issue. How have others handled this lender problem? Thanks for your input
Do an inspection, check Item #12 on the HUD 92051 (Compliance Inspection Report) and in Section II of that form call for a roofing inspection letter, and check "Other" as the inspection type ("At mortgagee's request"). Don't "clear" the condition - that is for the mortgagee's DE underwriter to do.
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Old 03-16-2011, 01:53 PM
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I have to disagree with you Peter. The appraiser does not make a decision about an inspection report. That is left up to the DEU and not the appraiser. The DEU can either accept or reject the inspection report. To the OP: I would inform the AMC that you cannot accept or reject the report and that this is an underwriter issue and not an appraisal issue.
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Old 03-16-2011, 03:24 PM
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Except for manufactured homes or new construction, you should be using the 1004D form instead of the HUD 92051 form. (But it seems like you should be doing neither in this case.)
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Old 03-16-2011, 03:57 PM
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Were you provided a copy of the roof inspection? If so, use the 1004D and indicate "per attached roof inspection report by others, the requirements and conditions of the origianl report have been met". Include a copy of the roof inspection with the 1004D, and pick up a $100 or so bucks for the "inspection" with requisite photos etc along the way.
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Old 03-16-2011, 04:01 PM
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Originally Posted by Mr Rex View Post
Were you provided a copy of the roof inspection? If so, use the 1004D and indicate "per attached roof inspection report by others, the requirements and conditions of the origianl report have been met". Include a copy of the roof inspection with the 1004D, and pick up a $100 or so bucks for the "inspection" with requisite photos etc along the way.
Works for me.
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  #7  
Old 03-16-2011, 05:25 PM
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This is the easiest inspection for you to make. As stated, you ask for the report from a home inspector/roof expert, and then go take a few pictures. If the roof looks like it has been replaced/worked on as described in the paperwork from roof experts, than you sign off and move on.
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  #8  
Old 03-16-2011, 05:33 PM
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Mike Garrett, RAA Mike Garrett, RAA is offline
 
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Not a requirement for the appraisal to do. The underwriter can accept the roof inspection from the roofing contractor and that ends it.
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Old 03-16-2011, 05:39 PM
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No, not required, but an easy paycheck to make.
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  #10  
Old 03-17-2011, 08:19 AM
Value Ninja Value Ninja is offline
 
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Thank you for the feedback. This roof is worn and has a lot of cupping. Lender arranges for a roof inspection (maybe delegates this to the agent), that comes back OK... But it's my signature on the final inspection report. Am I accepting unreasonable liability in this scenario?
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