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Client Request - Put a Manufactured Home on a 1004

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BJ Kirkpatrick

Thread Starter
Sophomore Member
Joined
Aug 25, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
I recently completed and REO that, at the onset of the assignment, was a frame built, as reported by three appraisers on prior appraisals. Making a very long story shorter, on the day I inspected, I saw 1 Red HUD plate. I went down the only window well and to take photos, it is a manufactured home. I called client, advised. They put order on hold. Then, days later I was told to proceed. I appraised, using a 1004C and using all manufactured home comps. I got a call today from the Client, they want me to put the report on a 1004, use a stick built or two as comps also, and put disclaimers in the report that they advised me to do that, and I can indicate it is a manufactured home. They said I'm to use a 1004 because I'm wrong about it being a manufactured home, that it is probably a modular. There is a short sale in progress, and I think the client (bank) is going to be stuck with the property, if the investor can't get financing. Is there a specfic area in USPAP that I can refer the client to, that says I have to use the 1004C? Thanks.....Becky Kirkpatrick, Colorado
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
I recently completed and REO that, at the onset of the assignment, was a frame built, as reported by three appraisers on prior appraisals. Making a very long story shorter, on the day I inspected, I saw 1 Red HUD plate. I went down the only window well and to take photos, it is a manufactured home. I called client, advised. They put order on hold. Then, days later I was told to proceed. I appraised, using a 1004C and using all manufactured home comps. I got a call today from the Client, they want me to put the report on a 1004, use a stick built or two as comps also, and put disclaimers in the report that they advised me to do that, and I can indicate it is a manufactured home. They said I'm to use a 1004 because I'm wrong about it being a manufactured home, that it is probably a modular. There is a short sale in progress, and I think the client (bank) is going to be stuck with the property, if the investor can't get financing. Is there a specfic area in USPAP that I can refer the client to, that says I have to use the 1004C? Thanks.....Becky Kirkpatrick, Colorado

If it has the HUD plate, it is without question a maunfactured home and I would not use stick built comps when manufactured home comps were available and I would not report it on the FNMA 1004 form as that form specifically states (near the top of page 4 of 6):

"This form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project."


Point that out to the lender and tell them they can have the report on the 1004C or they can have a narrative report (for an extra fee of course). Using the 1004 for a manufactured home would be misleading in my opinion.
 

Chris Colston

Elite Member
Joined
Jul 24, 2003
Professional Status
Certified Residential Appraiser
State
Florida
I got a call today from the Client, they want me to put the report on a 1004, use a stick built or two as comps also, and put disclaimers in the report that they advised me to do that, and I can indicate it is a manufactured home. They said I'm to use a 1004 because I'm wrong about it being a manufactured home, that it is probably a modular.

First, who is the appraiser, YOU or the client? Second, is it the broker/loan officer giving you these conditions or the Underwriter? Third, get all requests IN WRITING so you can keep a file copy. Fourth, why are YOU dealing directly with the client rather than your supervisor? Fifth, have you discussed this with your supervisor, what does he/she say?

It is what it is, don't change it!
 

Mary Tiernan

Senior Member
Joined
Dec 16, 2003
Professional Status
Retired Appraiser
State
Michigan
Wow, how do they know you are wrong about it being manufactured?

Did you take a photo of the steel frame? Did you look for the interior Certification Label? Did you get information from assessor or building department? Did you write down HUD numbers from exterior labels?

I would definitely have my ducks all in a row and politely explain to them that they are mistaken, it is a HUD and here is the proof.

I would think this is undue influence and coercion on their part, and you need to know who to report them to in your state.
 

Jo Ann Meyer Stratton

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Arizona
Did you take photos of the HUD labels and data plate? Did you include them in their appraisal report? Those are proof the home is a manufactured home that cannot be argued with.
 

Greg Bell

Senior Member
Joined
Jul 7, 2006
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Louisiana
Always take pictures of the Tags.A picture of the undercarriage won't hurt either.Do NOT use a 1004...big trouble..
 

BJ Kirkpatrick

Thread Starter
Sophomore Member
Joined
Aug 25, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
Manufactured Home on a 1004?

If it has the HUD plate, it is without question a maunfactured home and I would not use stick built comps when manufactured home comps were available and I would not report it on the FNMA 1004 form as that form specifically states (near the top of page 4 of 6):
I think they want it on a 1004 so that they can go back in and change "wording" easily. I completed it on a 1004C.

"This form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project." Yep, they want that gone I think. It was going to close (short sale) and my report has trashed that (I'm guessing)


Point that out to the lender and tell them they can have the report on the 1004C or they can have a narrative report (for an extra fee of course). Using the 1004 for a manufactured home would be misleading in my opinion.[/QUOTE] I told him that, and he sent me in writing that the lender said it is a modular and I'm to put it on a 1004.

Thanks for the help.
 

BJ Kirkpatrick

Thread Starter
Sophomore Member
Joined
Aug 25, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
Manufactured Home on a 1004?

First, who is the appraiser, YOU or the client? Second, is it the broker/loan officer giving you these conditions or the Underwriter? Third, get all requests
IN WRITING so you can keep a file copy. Fourth, why are YOU dealing directly with the client rather than your supervisor? Fifth, have you discussed this with your supervisor, what does he/she say?


Thanks for your help/insight. I do appreciate it.

It is what it is, don't change it!

Me, of course.....but he was so insistent I put the submitted report on a 1004. At one point, I told him I wasn't even sure he is who he says he is and he would have to submit in writing to me what he wanted done and why. He did.
The client said it is the bank that owns the property. I have not received anything personally from the bank.

I actually don't have a supervisor any longer....I'm actually licensed and having my certified reviewed by the state now. I just don't know how to change the profile on this forum...lol. Looked and couldn't find it. But I was in a hurry, plus aggravated because I kept being told I was wrong, that at best it was a modular. Took photos of HUD Plate (Red), inside there was a small label in the electrical box that said the data label was in closet (NOT)....Closet freshly painted. Looked in every cupboard, closet, etc. (Had time, it's an REO, vacant). I dropped underneath in a window well, (had ladder) and took photos of steel beams and flat steel plates that had holes in them (for axles) Three appraisers in the past said it was frame. Last appraisal was done 2 months ago, and he said frame. So that is why I'm being jumped on.

It is easy enough to change a PDF file, not disturbing the signature. So I think they want it on a 1004 so they can remove "manufactured and other similar data" and then my signature will still be there.
 

BJ Kirkpatrick

Thread Starter
Sophomore Member
Joined
Aug 25, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
Manufactured Home on a 1004?

Wow, how do they know you are wrong about it being manufactured?

Did you take a photo of the steel frame? Did you look for the interior Certification Label? Did you get information from assessor or building department? Did you write down HUD numbers from exterior labels?

I would definitely have my ducks all in a row and politely explain to them that they are mistaken, it is a HUD and here is the proof.

I would think this is undue influence and coercion on their part, and you need to know who to report them to in your state.


Took photos of steel undercarriage and flat platform peices that holes in them (axle were attached there), Cert label removed and closet painted recently, but there was a sticker in electrical box that referred to the Cert label in closet. Sticker was partically pulled off. I took photo. Only one HUD plate was visible (and I looked), took photo and wrote down number. Called assessor's office on the original research....they said manufacturer was Liberty (1999 Manu. date) that does manufactured and modular. BUT, the county is calling it, and all the other ones on the street as frame. The MLS said they are frame. I don't think anyone ever went underneath to look at framing, as it was not easy without a ladder.

Problem is, there is a street of these things, they have been sold as frame homes (very high $ at the time), (deceiving from viewing), now some are in foreclosure and being bought by investors. And with my saying it is manufactured, and putting it on the form.....financing is getting difficult. Three appraisers have appraised this property, never saying it was manufactured.

If I put this on a 1004, indicating it is a manufactured home, and disclaiming, as the client wants me to do (person representing bank that is selling this property (short sale), then they can take out or change what they want on the PDF and keep my signature on it. With a 1004C, they can do the same thing, but it is ALOT more work, and probably wouldn't line up right.

The client said everyone in the past has used a 1004 and that Modulars have HUD plates too. So I am probably wrong with saying that it is a manufactured as I can't find the cert label.

Thanks for the time you took to answer my questions.
 

BJ Kirkpatrick

Thread Starter
Sophomore Member
Joined
Aug 25, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
Manufactured Home on a 1004?

Always take pictures of the Tags.A picture of the undercarriage won't hurt either.Do NOT use a 1004...big trouble..


Thanks Greg.....I do appreciate the time you took to respond. Becky
 
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