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  #1  
Old 08-18-2011, 01:20 PM
Mainer Mainer is offline
 
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Default What is the proper UAD format for vehicle storage?

The fannie mae guide says garage/carport - text

So to me that would be 2Att;0Crpt for a home that had a two car attached garage and no carport. Some lenders has said that is the way it should be done.

Others have said however, that the number of open spaces also needs to be included. So if the above property has a 4 car driveway:

2Att;0Crpt;4Opn

It just doesn't make any sense to muddy up the grid with something that 99.9% of appraisers in our area never adjust for - the number of open spaces.

So, which is it? Will UAD accept Garage/Carport, or does it have to be Garage/Carport/Open?

Thanks
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Old 08-18-2011, 01:25 PM
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zdfenton zdfenton is offline
 
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https://www.efanniemae.com/sf/lqi/um...forlenders.pdf
  #3  
Old 08-18-2011, 01:33 PM
Mainer Mainer is offline
 
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Originally Posted by zdfenton View Post
Thank you, but as I stated above it says "garage/carport - text"

It says nothing specifically about reporting the number of open spaces in the sales grid.
  #4  
Old 08-18-2011, 01:35 PM
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Lloyd Bonafide Lloyd Bonafide is offline
 
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Quote:
Originally Posted by Mainer View Post
It just doesn't make any sense to muddy up the grid with something that 99.9% of appraisers in our area never adjust for - the number of open spaces.
What's the problem with a little more mud?
  #5  
Old 08-18-2011, 01:38 PM
Mainer Mainer is offline
 
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Originally Posted by Lloyd Bonafide View Post
What's the problem with a little more mud?
I'm so looking forward to the phone calls about why we didn't adjust because comp #1 had room for 4 cars and the subject has room for 6 cars. and the inevitable "well I drive a smart car/mini cooper/other small car so I can fit at least 8 cars in my driveway."
  #6  
Old 08-18-2011, 02:45 PM
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Pilgrum Pilgrum is online now
 
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Put what ever you want in the grid field. you can put Garage 2, 2 Garage, 2 stalls, 4 stalls, or something like Gar2/1,150SF. What ever works for you.
On page 1 you are allowed to use just a number in the driveway field or the garage/carport fields.
  #7  
Old 08-18-2011, 05:02 PM
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HF Mudd HF Mudd is offline
 
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Quote:
Originally Posted by Lloyd Bonafide View Post
What's the problem with a little more mud?
One can never have enought Mudd!

__________________
I am not programmed to respond in that area...
  #8  
Old 08-18-2011, 05:40 PM
Noreen Noreen is offline
 
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State: New Hampshire
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Quote:
Originally Posted by Mainer View Post
The fannie mae guide says garage/carport - text

So to me that would be 2Att;0Crpt for a home that had a two car attached garage and no carport. Some lenders has said that is the way it should be done.

Others have said however, that the number of open spaces also needs to be included. So if the above property has a 4 car driveway:

2Att;0Crpt;4Opn

It just doesn't make any sense to muddy up the grid with something that 99.9% of appraisers in our area never adjust for - the number of open spaces.

So, which is it? Will UAD accept Garage/Carport, or does it have to be Garage/Carport/Open?

Thanks
On my second UAD, I had a 3 car garage and 1 Carport and 10+ car driveway. the UAD will prompt you on how it wants it presented. This is a drop down of the side of the screen and it has you answer the questions in the order it positions them.
  #9  
Old 08-18-2011, 07:47 PM
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Terrel L. Shields Terrel L. Shields is online now
 
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Quote:
One can never have enought Mudd!
No kin to Fannie CEO Daniel Mudd, right?
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  #10  
Old 08-18-2011, 08:53 PM
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zdfenton zdfenton is offline
 
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The fact that they put "text" when they are so specific in other areas suggests they give some latitude in this field. I have had multiple reports run through the UCDP already and didn't get any kickback in this area, so it seems pretty clear you can do what you want.
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