Fannie funded on frame mod

[Tim Hicks (Texas)]

Not so sure this would be fraud. It is possible to be ignorant to this statute, no?

How would E&O react to that? Does their definition of fraud include intent?

If it is on frame it must have HUD tags for Fannie Mae financing. If it has anything else, the appraiser is negligent and reporting it falsely. As that cop told me at 17, ignorance of the law is no excuse. I had no front license plate and got a ticket for my ignorance.

 

[Lawrence R.]

If it is on frame it must have HUD tags for Fannie Mae financing. If it has anything else, the appraiser is negligent and reporting it falsely. As that cop told me at 17, ignorance of the law is no excuse. I had no front license plate and got a ticket for my ignorance.

Yadda yadda yadda, I know that, duck.

What I asked was how do you think the E&O carrier would classify the (obvious) infraction. I am not questioning the appraiser's lack of compliance, but rather under what heading would the E&O company file it? Or rather, could an appraiser make the case against fraud and just say he made an ERROR? Or perhaps an OMISSION?


Care to try again?

 

[Lawrence R.]

Announcement 03-06 June 3, 2003
Amends these Guides: Selling and Servicing​

Morgage Eligibility and Servicing Procedures for Morgages Secured by Manuactured Homes

Definition of a Manufactured Home
[FONT=CBGLNA+Garamond,Garamond]Any dwelling unit built on a permanent chassis and attached to a permanent foundation system is a "manufactured home" for purposes of Fannie Mae’s guidelines. Other factory-built housing (not built on a permanent chassis), such as modular, prefabricated, panelized, or sectional housing, is not considered manufactured housing and continues to be eligible under the guidelines stated in the Selling Guide


Property Eligibility
[FONT=CBGLNA+Garamond,Garamond]Manufactured homes must meet the following conditions:
• The manufactured home must be built in compliance with the Federal Manufactured Home Construction and Safety Standards that were established June 15, 1976 (as amended and in force at the time the home is manufactured) and that appear in HUD regulations at 24 C.F.R. Part 3280. Compliance with these standards will be evidenced by the presence of a HUD Data Plate that is affixed in a permanent manner near the main electrical panel or in another readily accessible and visible location.
[/FONT][/FONT]

Thanks,

Was this under allregs? I couldn't come up with the right keyword to find it.

 

[Mr Rex]

efanniemae.com

 

[Lawrence R.]

efanniemae.com

Thanks. Why not just say it is here on Earth?

When I go to efannie, I couldn't get that to come up. I was wondering what specifically you typed into the search bar?


Never mind. I will find some other way to learn it.

 

[Mr Rex]

Google Fannie announcement 03-06.

 

[RSW]

I used to provide a manufacted home addendum with my reports before the 1004C came out in 2005. I guess the original appraiser didn't know about an addendum. Just giving him the benefit of a doubt. Ha! Ha!

 

[Ms. Janet]

Thanks. Why not just say it is here on Earth?

 

[Otis Key]

Thanks. Why not just say it is here on Earth?

When I go to efannie, I couldn't get that to come up. I was wondering what specifically you typed into the search bar?


Never mind. I will find some other way to learn it.

Oh come on Mr Rex - can't ya just spoon feed him and then take care of the clean up later?

 

[PropertyEconomics]

Yadda yadda yadda, I know that, duck.

What I asked was how do you think the E&O carrier would classify the (obvious) infraction. I am not questioning the appraiser's lack of compliance, but rather under what heading would the E&O company file it? Or rather, could an appraiser make the case against fraud and just say he made an ERROR? Or perhaps an OMISSION?


Care to try again?

You left out the most important one not covered by E&O .. COMISSION.