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92800 completion report?

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Rumrunner

Sophomore Member
Joined
Sep 19, 2006
Professional Status
Certified Residential Appraiser
State
Virginia
I did an FHA that has deferred maintenance. The lender now wants a 92800 "completion report." How would one use this as a completion report? Thanks in advance to all you brain trust members. Please be kind.
 

TITAN1

Sophomore Member
Joined
Jan 2, 2008
Professional Status
Certified Residential Appraiser
State
Florida
I did an FHA that has deferred maintenance. The lender now wants a 92800 "completion report." How would one use this as a completion report? Thanks in advance to all you brain trust members. Please be kind.
Are you sure their not loocig for a CIR ( compliance inspection report) HUD form 92051? If the CIR is what they need and the deferred maintenance has been acceptably completed then fill out the CIR check # 9 and # 14 and explain in section II.
 

Rumrunner

Sophomore Member
Joined
Sep 19, 2006
Professional Status
Certified Residential Appraiser
State
Virginia
You were correct. They did however specifically ask for a 92800. Thanks so very much!
 

TITAN1

Sophomore Member
Joined
Jan 2, 2008
Professional Status
Certified Residential Appraiser
State
Florida
You were correct. They did however specifically ask for a 92800. Thanks so very much!
If they specifically asked for the HUD 92800 form, they obviously must be new to FHA, or the processor of the file for the lender is in lala land. That form has nothing to do with the appraiser.
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Titan1 is correct. Not our form.
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
CHAPTER 3. PROPERTY ANALYSIS

3-1 PURPOSE
This chapter explains the procedures for the lender to follow in submitting the property for valuation analysis. The procedures for the local HUD office to follow in appraising and analyzing the property are also explained. Refer to HUD Handbook 4150.1 for standard valuation analysis procedures. This chapter supersedes that handbook only as noted below.

3-2 ORDERING THE APPRAISAL AND OBTAINING A CASE NUMBER
To order an appraisal and receive a case number, a lender should do the following:
Complete Form HUD 92800, Application for Property Appraisal and Conditional Commitment
The form should be completed according to the instructions included on the form
The lender must type "Home Equity Conversion Mortgage" in Block 5 under the name and address of the lender
Follow local HUD office procedures to obtain a case number and an appraisal assignment
The lender should identify the case as a Section 255 mortgage and provide information on the property address and other necessary information
CHUMS will assign the next available case number.
Applications will be assigned regular case numbers, and will be distinguished by CHUMS according to separate Section of the Act ADP codes:
911 - fixed rate HECM with assignment option
912 - adjustable rate HECM with assignment option
913 - fixed rate HECM with shared premium option
914 - adjustable rate HECM with shared premium option
915 - fixed rate HECM with shared appreciation option
916 - adjustable rate HECM with shared appreciation option
Send copies 1, 3 and 4 of the Form HUD 92800 (the lender should retain copy 2), along with a Uniform Residential Appraisal Report (URAR), to the assigned appraiser.
Send a Uniform Case Binder to the local HUD office with the case number written in the designated spaces. Refer to HUD Handbook 4165.1 for case binder specifications.
Lenders may also utilize the CHUMS Lender Access System (CLAS) in order to request a case number and appraisal assignment for a property. CLAS Receiving and Assignment requests use interactive CHUMS screens and require HUD intervention. See Paragraph 1-15.
 
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