Here Is Why FHA Fees Go Up $150

[Michigan CG]

I raised my FHA fees $50. So far no resistance.

 

[lomas]

came up with commentary and wondering what you all think?



FHA inspection showed no visible MPR deficiencies in the home. No crawl space inspection was made as no crawl space exists. Subject meets all FHA/HUD minimum MPR guidelines as outlined by Handbook 4000.1. All utilities were on and appeared to be in proper working order. Attic observation was limited to a head and shoulders inspection due to the appraisers corpulent size, however a thorough head and shoulders inspection showed no visible MPR deficiencies in the attic.

 

[ucbruin]

I raised my FHA fees $50. So far no resistance.

Did you forget what the OP titled this thread?

 

[GeorgetownAP]

Gotta laugh...... just spoke yesterday with an AMC who informed me that appraisers in my area are quoting an average fee for $299 for an FHA --- after I fell off my chair, I "respectfully" replied, "Never, no way and no how..." Not doing FHA for these guys!!!!

 

[CANative]

came up with commentary and wondering what you all think?



FHA inspection showed no visible MPR deficiencies in the home. No crawl space inspection was made as no crawl space exists. Subject meets all FHA/HUD minimum MPR guidelines as outlined by Handbook 4000.1. All utilities were on and appeared to be in proper working order. Attic observation was limited to a head and shoulders inspection due to the appraisers corpulent size, however a thorough head and shoulders inspection showed no visible MPR deficiencies in the attic.

Read the paragraph in the 4000.1 where it discusses the prohibition of jocularity.

 

[Riick]

an AMC who informed me that appraisers in my area are quoting an average fee for $299 for an FHA

Right, and the same guys will "Paint any car, any color for $69.95!" - Earl Scheib

 

[Terrel L. Shields]

You couldn't see this from a head and shoulders entry into the crawlspace. About 1/3 of the floor structure is totally shot,

Why is the wood so dark. It looks like fire damage. or just black mold???

 

[Terrel L. Shields]

 

[CANative]

You must be a young whipper snapper. In my day it was $29.95 and you got $5 free metal work!

Right, and the same guys will "Paint any car, any color for $69.95!" - Earl Scheib

 

[gbrown]

That's exactly what I did. I also quoted the parts where it says the appraiser makes an "observation" and that it is only visual and not "technically exhaustive". Never heard back from them. Basically explained that I can see more than what may be shown in 3 or 4 photos and that they just have to take my word for it. If they are concerned with the roof then they should hire a specialist in that field.

I think sometimes the client just wants the extra commentary rather than the extra steps in the "observation" process.

This week I did two FHA inspections and I really, really tried to look at every inch of the attic. I really did. I'm not 20 yo anymore so it's not easy bouncing around up there. In my experience, they always have a number of obstacles you have to watch out for. In older homes, you always have to crouch to avoid banging head against ductwork, 2x4 bracing or even the nails that petrude underneath the roof and while you are crouching you have to balance yourself along more 2x4's and may need to hop over more ductwork, wires, pipes or in this weeks example, work my way around 4 skylight encasements. One wrong move and through the ceiling I go. On the newer homes, most have the entire furnace or two up there along with the ductwork plus the insulation is so thick or might have Reflectix underneath roof that you can't really see anything. In my experience there are certain "hot spots" and if you know where to look even before you observe the attic, you should be able to to tell if there is a probem.

So back to head and shoulders again with more commentary. Not risking damaging a ceiling or my back/neck anymore than I have to.

While many appraisers think FHA is business as usual it is not. My opinion is when you think the report is done it's really not. Nobody ever thinks about the back end business costs. When you miss the squirrels or birds in the attic from your head and shoulders, the mold in the basement, the termites you didn't see, unsafe conditions you missed, the bad odors, the lawsuits from buyers that find issues in the house you said no conditions exist, the airport contour mapping you have to do, all 3 approaches to value if applicable, side view comp pics, plus any injury you may sustain to your health, additional lenders stips, comments you need to address from some review appraiser, the time spend on issues, and soon to come higher E &O. I think a fee increase is justified. You have been warned!, take care.