Client requesting FNMA 1007 after the Opinion of market rent is already on the FNMA 1025 form?

[Dpvalue]

So Im confused. The 1025 FNMA form has a rent schedule , but now the client has requested a "revision" for a FNMA 1007 form. From my knowledge that would be considered a new assignment. And Im not even sure why they would want the FNMA 1007 form when I explained it within the report, providing 3 rental comps and concluding an opinion of monthly rent for the subject. What do you all think?

 

[shrubberyvaluation]

Removed, forgot it said Single Family at the top of the 1007.

 

[Dublin ohio]

So Im confused. The 1025 FNMA form has a rent schedule , but now the client has requested a "revision" for a FNMA 1007 form. From my knowledge that would be considered a new assignment. And Im not even sure why they would want the FNMA 1007 form when I explained it within the report, providing 3 rental comps and concluding an opinion of monthly rent for the subject. What do you all think?

Idiots. Do they realize that he header on the 1007 says "Single Family Comparable Rent Schedule"

 

[CGinMN]

Are they asking for a 1007 for the subject, or another property owned by the borrower? Sometimes lenders need stand-alone 1007s if the borrower is using the rents from another property to qualify for the mortgage. If they want if for the subject, just refer them to pg. 2 of the 1025.

 

[Dpvalue]

Are they asking for a 1007 for the subject, or another property owned by the borrower? Sometimes lenders need stand-alone 1007s if the borrower is using the rents from another property to qualify for the mortgage. If they want if for the subject, just refer them to pg. 2 of the 1025.

THis is a purchase and a Estate sale. But again on the 1025 I thoroughly explained this within the rent portion on the 1025. The 1007 is another assigment not a revision and they are requesting a revision for the same property

 

[CGinMN]

Dear Client, The rent schedule for the subject is on page 2 of the 1025 form. The 1007 rent schedule is for single-family homes. Please let me know if anything else is needed.

 

[Zoe]

Your done. Be nice.

A revision on 1025 might ask for additional information on rents, but not a 1007.

 

[Dpvalue]

Dear Client, The rent schedule for the subject is on page 2 of the 1025 form. The 1007 rent schedule is for single-family homes. Please let me know if anything else is needed.

Hahahaha! Thanks I want to send that note to them sooooo bad

 

[Dublin ohio]

Hahahaha! Thanks I want to send that note to them sooooo bad

Why not. I would add that the 1007 being designated for and formatted for a single family property. Attempting to report a multi family property on the 1007 could be considered misleading

 

[Dpvalue]

Why not. I would add that the 1007 being designated for and formatted for a single family property. Attempting to report a multi family property on the 1007 could be considered misleading

Ill decline the revison request and explain in the addendum. Thanks