1004p

[ramrcdk]

I don't get it from an ethics standpoint. Do what you say and say what you do to the borrower. And make sure it is disclosed on the truth in lending documents. That's your safe haven from an appraisal standpoint.

I : Should not have used word "ETHICS" in the context of that sentence. I meant : moral principles that govern a person's behavior. NOT : ethics in Appraisal. IF I can edit, I will.

 

[Dale Smalley]

Is anyone inspecting the comps? No comp pics?

 

[ICT RE]

Is anyone inspecting the comps? No comp pics?

I’ve asked the same in a few of these threads and no one seems to know.

 

[ucbruin]

Is anyone inspecting the comps? No comp pics?

I’ve asked the same in a few of these threads and no one seems to know.

I've completed 1004P PDR-property data review (inspection), no comp work required....

I've completed 2 hybrid appraisals a few years ago....
I selected my own comps and not required to view them from street....
MLS photos employed....

I'm not doing 1004P appraisal portion....

 

[Overimprovement]

For the 1004P, Fannie has stated the inspection is done first, and THEN a decision is made regarding additional valuation, if any.

My question, if anyone knows--Who will Fannie be ordering the inspections from? Will they hire and train their own staff? Will they order directly from AMCs, who will maintain their own inspector database, will they defer to the lender? Will it even be lender dependent on the inspection side?

No conjecture please, only looking for rock solid information if anyone has it...

 

[djd09]

email fannie ask them report back.

 

[ramrcdk]

For the 1004P, Fannie has stated the inspection is done first, and THEN a decision is made regarding additional valuation, if any.

My question, if anyone knows--Who will Fannie be ordering the inspections from? Will they hire and train their own staff? Will they order directly from AMCs, who will maintain their own inspector database, will they defer to the lender? Will it even be lender dependent on the inspection side?

No conjecture please, only looking for rock solid information if anyone has it...

Ok, so NO ONE really KNOWS those answers as it is in TEST MODE. A bit OFF your post: That is why I TRY hard presently not to DEBATE back-and-forth & with USPAP issues.
However, there could be a "poster or Two" that could provide daily reporting insight IF they would!!!
Otherwise : conjecture IS all there IS.
AMC (s) are SOME of the product "testors" ...and Forum Posters DO their assignments.

 

[George Hatch]

It's possible there are non-disclosure elements in some of these arrangements so the people involved might not be in a position to get into specifics.

 

[djd09]

'secrecy is repugnant in an open and free society' jfk

 

[DWiley]

It's possible there are non-disclosure elements in some of these arrangements so the people involved might not be in a position to get into specifics.

Possible? LOL. I would say that is a certainty, based on past dealings with the GSEs.