Fannie messed up with ANSI

[Fernando]

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

Fannie better give many examples of when to use GX001. We have different interpretations. We may have to waste time arguing with reviewers.

 

[Dublin ohio]

Fannie better give many examples of when to use GX001. We have different interpretations. We may have to waste time arguing with reviewers.

Meaning, you don't know. I am not interpreting anything. GX001 is when you cannot adhere to ANSI. Additionally, ANSI doe not define "GLA".

 

[Fernando]

Meaning, you don't know. I am not interpreting anything. GX001 is when you cannot adhere to ANSI. Additionally, ANSI doe not define "GLA".

Why can't you adhere to ANSI and call it 0 GLA. Just have a separate line and call it Fernando's Gross Living Area (FGLA).

 

[Terrel L. Shields]

There is also a jurisdictional exception

???? When would that ever apply?

does the market consider it GLA or not?

But who can define "the market"?

 

[Dublin ohio]

???? When would that ever apply?

Q6. What should the appraiser do if compliance is not possible when measuring, calculating, and reporting GLA? If the appraiser is unable to adhere to the ANSI standard, they must enter “GXX001-” at the beginning of the Additional Features field of the appraisal report and provide an explanation of why they were not able to comply. For example, if the appraiser is performing an appraisal in a state that requires appraisers to adhere to a different measuring standard, the appraiser may use the exception code and the loan may still be eligible for purchase by Fannie Mae.

 

[Terrel L. Shields]

if the appraiser is performing an appraisal in a state that requires appraisers to adhere to a different measuring standard,

That's not a Jurisdictional Exception as I see it and name one state with a different standard...or any standard at all

 

[Dublin ohio]

That's not a Jurisdictional Exception as I see it and name one state with a different standard...or any standard at all

Call it what you want. I was just posting what Fannie said. You should really try to keep from shooting the messenger

 

[djd09]

Why can't you adhere to ANSI and call it 0 GLA. Just have a separate line and call it Fernando's Gross Living Area (FGLA).

that is right they can adhere to ansi. but they do not like the results.

 

[Dublin ohio]

Fannie better give many examples of when to use GX001. We have different interpretations. We may have to waste time arguing with reviewers.

Interpret this.
Q8. The ANSI standard specifically notes that the definition of above and below grade could cause some houses to have no above-grade finished square footage. How should appraisers report GLA in this scenario?

Properties for which the entire square footage is below grade (such as berm homes) would be eligible for the exception process described in Q6

 

[Fernando]

Interpret this.
Q8. The ANSI standard specifically notes that the definition of above and below grade could cause some houses to have no above-grade finished square footage. How should appraisers report GLA in this scenario?

Properties for which the entire square footage is below grade (such as berm homes) would be eligible for the exception process described in Q6

Dublin, good you caught Q8.
I was making too much of an extreme case of all gross area below grade.
I should have said main living area above grade and all bedrooms and bathrooms below grade. Then you would have to separate the two level gross area as well as the room count.
Fannie didn't address that.