1004D final inspection on an FHA. but in initial appraisal through a different lender.

[Tom4value]

You have that bass ackwards.

Nope. Believe me, I thought that, too. The written “tongue-lashing” I got from a reviewer says you (and I) are wrong. The wording I got was, “The purpose of this appraisal is solely to assist HUD/FHA in securing an FHA loan…..”

 

[Zoe]

If she calls me back. I may do it and even see if I can go inside. I found this language I used in a disaster form I used a long time ago but I didn't use 1004D. I used a disaster form that was in Alamode software.

"Having personally inspected the subject property from the street, and driving around the surrounding neighborhood on the effective date of the report, I certify to the best of my knowledge and belief that the subject property is free from apparent damage from any recent natural disaster based on visible observation from the street. An expert should be consulted and further inspection conducted if there are any concerns about structural integrity. "

I hate to ask to go inside because she has already bought the house and closed on the loan. Maybe I can get by with her comments on any damage she is aware of and just do inspection from street. The snow/ice melted a bunch yesterday. Hopefully Monday it is gone and it should all be off her roof and maybe even her yard.

I don't who the lender is selling the loan to. I don't know if they will kick it back or not.

I have already been paid on the appraisal. The appraisal was completed before the FEMA disaster.

 

[Tom D]

This poster's question has been answered many times on this blog'
1. A 1004d final inspection for repairs, or construction, is not an appraisal. It's not confidential since they already know what has to be done. It's a service, but you should reference it to your appraisal. You can send a monkey to do it.
2. A1004d recert of value is an appraisal, because a value is looked to to see if changed.

 

[Zoe]

This poster's question has been answered many times on this blog'
1. A 1004d final inspection for repairs, or construction, is not an appraisal. It's not confidential since they already know what has to be done. It's a service, but you should reference it to your appraisal. You can send a monkey to do it.
2. A1004d recert of value is an appraisal, because a value is looked to to see if changed.

I am just sure Dwiley commented a long time ago on an old forum what was GSE requirement on form to be used. I tried to get him to respond but he didn't respond.

I don't know if this lender is selling loan to Fannie/Freddie or not but they are selling it to somebody. My client has made it clear they are selling the loan. Danny works for Freddie but he didn't respond to this thread.

I don't think value is an issue here because the appraisal is good for so long with VA and FHA. They just want to know if any damage has occurred from natural disaster since date of the natural disaster.

I am going call homeowner again. Give me a minute

 

[Zoe]

Had to leave voice mail. I may have to wing it on drive by Monday if she don't call me back. She is real sweet lady. She will likely call me back.

It kinda limits my liability too if she don't call me back and I just drive by on Monday and no Snow/Ice all over it and see no significant damage to homes nearby.

Take a bunch of pictures. I think the snow/ice will be melted on her home by Monday.

If you work Memphis area and are not happy with weather. Just wait a few days or hours. I think homeowner's mother is really sick right now so I am probably last thing on her mind.

 

[RSW]

Nope. Believe me, I thought that, too. The written “tongue-lashing” I got from a reviewer says you (and I) are wrong. The wording I got was, “The purpose of this appraisal is solely to assist HUD/FHA in securing an FHA loan…..”

This is what Grok has to say about the FHA not being the appraiser's client:

No, the Federal Housing Administration (FHA) is not the appraiser's client in real estate appraisals for FHA-insured loans.


The appraiser's client is the lender (also called the mortgagee), who orders, engages, and typically receives payment for the appraisal.


FHA (under the U.S. Department of Housing and Urban Development, or HUD) serves as an intended user of the appraisal report, along with the lender. This allows FHA to assess property risk for insuring the loan, but it does not make FHA the client.


This distinction follows:

• Uniform Standards of Professional Appraisal Practice (USPAP)
• FHA guidelines in HUD Handbook 4000.1 and related mortgagee letters

Appraisers often note in reports that intended users include both the lender/client and HUD/FHA.

 

[Zoe]

This is what Grok has to say about the FHA not being the appraiser's client:

No, the Federal Housing Administration (FHA) is not the appraiser's client in real estate appraisals for FHA-insured loans.


The appraiser's client is the lender (also called the mortgagee), who orders, engages, and typically receives payment for the appraisal.


FHA (under the U.S. Department of Housing and Urban Development, or HUD) serves as an intended user of the appraisal report, along with the lender. This allows FHA to assess property risk for insuring the loan, but it does not make FHA the client.


This distinction follows:

• Uniform Standards of Professional Appraisal Practice (USPAP)
• FHA guidelines in HUD Handbook 4000.1 and related mortgagee letters

Appraisers often note in reports that intended users include both the lender/client and HUD/FHA.

It is not really client vs non client. VA is the client.

In my mind, which is old, FHA is my client.

Now, share your other thoughts.

 

[Zoe]

Okay, if FHA has a problem with it, I have a problem with it. FHA is the client.
Okay, if VA has a problem with it, I have a problem with it. VA is the client.

 

[DWiley]

Nope. Believe me, I thought that, too. The written “tongue-lashing” I got from a reviewer says you (and I) are wrong. The wording I got was, “The purpose of this appraisal is solely to assist HUD/FHA in securing an FHA loan…..”

Under USPAP, the "client" is the party (or parties) that engage the appraisal assignment (either directly or via an agent, e.g., via an AMC). In the typical FHA assignment, the engagement is performed by the lender (or AMC), not by FHA/HUD.

 

[TerryRohrer]

Okay, if FHA has a problem with it, I have a problem with it. FHA is the client.
Okay, if VA has a problem with it, I have a problem with it. VA is the client.

Have you read USPAP yet (hint, look for definitions of "client" and "intended users")? Who orders VA appraisals from you? Who orders FHA appraisals from you?