Scope Creep on UAD?

[BrianS]

If this is in the wrong section please forgive me and just move it

Anyway I have been wondering with scope creep being the norm with some AMC's out there, have any of you all had an AMC want a UAD field changed to "their" way? Obviously it shouldnt happen but with some AMCs I am expecting anyday to have to argue with one on something that they want changed that would not be UAD compliant. I have been noticing several AMCs are as lost as a goose on this UAD which to be honest with you I am too on some of this. I havent been doing many UADs since I have been doing mostly FHA or USDA which are not requiring UAD.

 

[Patricia Sturick]

From what I understand, next March all has to be the way Fannie wants it, not the client, AMC, appraiser, anyone. It will get rejected when reports get sent in electronically. What worries me more is if they will want the information put in twice, once in the regular spots on the forms and another way in the addendums. There was one thread on here a while back one client asked an appraiser to send in 2 different reports on the same property, same effective date, one UAD and one the regular or past way of doing the forms. We shall see how this plays out.

 

[stangtime]

Yes. I turned one down yesterday that was scope-creping its UAD rear end along. The main reason for returning the order was not for that reason though. Just some of the additional assignment conditions were:

1. Subject tax card had to be attached and if I measured the property to be 10% larger or smaller than the tax card I had to explain why in detail. And explain why the property was over or under improved because of it and how the market would respond to each issue.
2. Give the name and phone number of the people I spoke with to gather the cost to connect the subject to public water lines (the report was FHA)
3. Every line for every adjustment had to bracket the subject amenity with a closed sale with that amenity. Period. They said go as far as you had to to do this.
4. Use "Drive," "Street," "Avenue," "Road," etc....rather than Dr, St, Ave, Rd.

....it went on and on with stupid stuff like this. They can have it. Godspeed.

Dan

 

[puget3]

let me guess: the lender is in Irvine CA?

 

[stangtime]

let me guess: the lender is in Irvine CA?

Nope. Indianapolis.

I very, very rarely do work for them. But when the order is close to the office, I have a week to do it, and the fee is full, I sometimes bite.

Dan

 

[puget3]

lender in IrvineCa, AMC in Indiana

Nope. Indianapolis.

I very, very rarely do work for them. But when the order is close to the office, I have a week to do it, and the fee is full, I sometimes bite.

Dan

Dan

I think we are talking about the same here: the AMC is in Indiana.

in my case, the lender happens to be located in Irvine CA every time I see those requests

 

[stangtime]

Nope. Indianapolis.

I very, very rarely do work for them. But when the order is close to the office, I have a week to do it, and the fee is full, I sometimes bite.

Dan

Dan

I think we are talking about the same here: the AMC is in Indiana.

in my case, the lender happens to be located in Irvine CA every time I see those requests

In that case, yes, same folks. However, this order originated from Foothill Ranch, CA. Is that close to Irvine?

Dan

 

[BrianS]

Well, I just turned one in today for someone in Indy.

Bring on the stips! ...sigh

 

[puget3]

foothill ranch = irvine

In that case, yes, same folks. However, this order originated from Foothill Ranch, CA. Is that close to Irvine?

Dan

yes, the lender changed the address recently

 

[stangtime]

yes, the lender changed the address recently

Good to know.

Some of the lenders that run through SL have very few requirements. No big deal. But then others.....

Dan