Fannie messed up with ANSI

[djd09]

Q14. The ANSI standard requires any area that is
partially or wholly below grade to be counted as
basement; what defines ‘partially’ below grade?

A floor level is partially or wholly below grade if any portion of its
walls is not entirely at or above ground level.

 

[Fernando]

That is what GX001 is for. If you have a single level berm home. You use GX001. Which means you cannot adhere to ANSI. You then do it like you would have before ANSI. The finished area goes on the GLA line. How could you adhere to ANSI if you cannot measure the exterior of the home?

You can't use GX001. You put a separate line for the nonANSI measurement and get comps similar adjusting on that separate line.
If we make our call of when to use GX001, it defeats purpose of Fannie telling appraisers we can't deviate from ANSI.
If so, I can come up with lots of excuses.

 

[Fernando]

Q14. The ANSI standard requires any area that is
partially or wholly below grade to be counted as
basement; what defines ‘partially’ below grade?

A floor level is partially or wholly below grade if any portion of its
walls is not entirely at or above ground level.

That's what it says if you read it literally.

 

[Dublin ohio]

You can't use GX001. You put a separate line for the nonANSI measurement and get comps similar adjusting on that separate line.
If we make our call of when to use GX001, it defeats purpose of Fannie telling appraisers we can't deviate from ANSI.
If so, I can come up with lots of excuses.

So why does GX001 exist. Never mind. You go ahead and report 0 GLA.

 

[Fernando]

So why does GX001 exist. Never mind. You go ahead and report 0 GLA.

That's the right way - 0 GLA. Thanks to ANSI.
Just because you don't like 0 GLA, you can't use GX001.

 

[Dublin ohio]

That's the right way - 0 GLA. Thanks to ANSI.
Just because you don't like 0 GLA, you can't use GX001.

 

[alebrewer]

I agree - this wasn't the best move on Fannie's part. I'm ok with a measurement standard. As it comes to GLA, though, my take is - does the market consider it GLA or not? If so - it's GLA. If not - it's not. That's part of the expertise that the appraiser is expected to provide...

 

[Dublin ohio]

IMO. I don't believe Fannie intended to have us report "0" GLA.

 

[Fernando]

IMO. I don't believe Fannie intended to have us report "0" GLA.

IMO. I don't believe Fannie intended to have us report "0" GLA.

Fannie could change the 1004 form to accomodate this abnormality.
Either way Fannie needs to address this.
If they allow me to make exceptions, I feel I'm given green card to do what I think Fannie intended and you don't want Fernando doing that.
For example if it's a complicated sketch to round out, Fernando may justify using half foot rounding which is most appropriate in measuring such a house. Give me the green light to do what I think Fannie intended.

 

[Dublin ohio]

Fannie could change the 1004 form to accomodate this abnormality.
Either way Fannie needs to address this.
If they allow me to make exceptions, I feel I'm given green card to do what I think Fannie intended and you don't want Fernando doing that.

I'll try one more time. Try answering this question. Why does GX001 exist. You either know or you don't know. Period.