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  #1  
Old 09-17-2011, 09:21 PM
melissa995 melissa995 is offline
 
Join Date: Jun 2008
State: Colorado
Professional Status: Licensed Appraiser
Posts: 119
Default AMC and the ability to dicuss issues with underwriters

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.
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  #2  
Old 09-17-2011, 09:34 PM
Terrel L. Shields's Avatar
Terrel L. Shields Terrel L. Shields is online now
 
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Location: Springtown, AmeRica
State: Arkansas
Professional Status: Certified General Appraiser
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Default

Tell them to go stick a sock in it, and pass on the assignment...
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  #3  
Old 09-17-2011, 10:14 PM
melissa995 melissa995 is offline
 
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State: Colorado
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Default

Quote:
Originally Posted by Terrel L. Shields View Post
Tell them to go stick a sock in it, and pass on the assignment...
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  
Old 09-17-2011, 10:17 PM
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incognito incognito is offline
 
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Location: On the Beach
State: Florida
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Default

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?
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  #5  
Old 09-17-2011, 10:31 PM
melissa995 melissa995 is offline
 
Join Date: Jun 2008
State: Colorado
Professional Status: Licensed Appraiser
Posts: 119
Default

Quote:
Originally Posted by incognito View Post
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?
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  
Old 09-17-2011, 10:37 PM
melissa995 melissa995 is offline
 
Join Date: Jun 2008
State: Colorado
Professional Status: Licensed Appraiser
Posts: 119
Default

Quote:
Originally Posted by melissa995 View Post
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.
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  
Old 09-18-2011, 03:09 PM
Terrel L. Shields's Avatar
Terrel L. Shields Terrel L. Shields is online now
 
Join Date: May 2002
Location: Springtown, AmeRica
State: Arkansas
Professional Status: Certified General Appraiser
Posts: 39,414
Default

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.
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  #8  
Old 09-18-2011, 03:25 PM
Walter Kirk Walter Kirk is offline
 
Join Date: Jun 2003
Location: Audubon, N.J.
State: New Jersey
Professional Status: Licensed Appraiser
Posts: 4,384
Default

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  
Old 09-18-2011, 03:58 PM
PropertyEconomics's Avatar
PropertyEconomics PropertyEconomics is offline
 
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Location: Central New Mexico
State: New Mexico
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Id still love to know how an "apprentice appraiser" is on the FHA list ......
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  #10  
Old 09-18-2011, 07:12 PM
Terrel L. Shields's Avatar
Terrel L. Shields Terrel L. Shields is online now
 
Join Date: May 2002
Location: Springtown, AmeRica
State: Arkansas
Professional Status: Certified General Appraiser
Posts: 39,414
Default

Quote:
Id still love to know how an "apprentice appraiser" is on the FHA list
because they haven't updated their profile...She was a trainee in 2008...
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