Pamela Crowley (Florida)
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- Jan 13, 2002
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- Retired Appraiser
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- Florida
Spelling it out probably conflicts with that 'third party software' that is 'converting' your report into something else.
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FHA Avenue Abbreviation Requirements
- Thread starter Doug Smith SRA
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Doug Smith SRA
Member
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- Jan 16, 2002
- Professional Status
- Certified General Appraiser
- State
- Montana
HUD Answers-Important Information!
Have a copy of an e-mail from "underwritingquestions@HUD.gov" This all reminds me of some Monty Python skit. Now we know there is a HUD Department of Silly Questions.
Seriously, those doing HUD appraisals have to be aware of the following simple fact, to wit "The subject property address on the appraisals must match exactly how the FHA Case # has been assigned."
So, appraisers may have their own conventions for abbreviations or the full spellling of "street" or "avenue" but to pass review, the address must be the same in all detail as the one used to draw the case number.
I think the simple solution is to take the lead from the engagement letter and use the exact address provided by the lender.
It would be better if HUD had the same standardized form that the VA has.
Have a copy of an e-mail from "underwritingquestions@HUD.gov" This all reminds me of some Monty Python skit. Now we know there is a HUD Department of Silly Questions.
Seriously, those doing HUD appraisals have to be aware of the following simple fact, to wit "The subject property address on the appraisals must match exactly how the FHA Case # has been assigned."
So, appraisers may have their own conventions for abbreviations or the full spellling of "street" or "avenue" but to pass review, the address must be the same in all detail as the one used to draw the case number.
I think the simple solution is to take the lead from the engagement letter and use the exact address provided by the lender.
It would be better if HUD had the same standardized form that the VA has.
Don Clark
Elite Member
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- Jan 17, 2002
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- Certified Residential Appraiser
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- Virginia
Doug,
They do. But, hardly anyone ever uses it. The ONLY request I have ever received along with the form were from Bank of America in their government loan department.
One other thought. What if the appraisal was ordered with the wrong information? For example, if it said street instead of avenue???? We cannot simply match the form or request and perpetuate an error. On several VA request over the years, the address has been wrong, the spelling has been wrong, and other important facts have been wrong. In all cases I simply corrected them snd stated what I had corrected in the report.
Business is slow, underwriters have too little to do
Last edited:
John "Corky" Harry
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- Jan 31, 2002
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- Certified Residential Appraiser
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- Virginia
Pam and Don nailed it!
Abester . . . I like the way you think!
Abester . . . I like the way you think!
Doug Smith SRA
Member
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- Jan 16, 2002
- Professional Status
- Certified General Appraiser
- State
- Montana
Right On!
I agree totally. Wrong addresses and such are often the case as well as legal descriptions.
My last VA had the wrong legal on the sales contract and that carried into the VA download site. I made corrections in the report, corrected the legal on the website when I submitted the report and noted the error as part of the analysis of the sales contract. All was easily done and as you say, the error was not perpetuated. Good point.
Underwriters are in fear of their jobs. The finger of fate is poised on their ejection seat buttons as they are about to be hurled out of their cubicles. My guess is there is going to be a surge in independent fee appraisers as these reviewers face lay offs. They will have it easy for they will be able to find those comparables on the same street that sold in the last 30 days. After all,if they can sit in their cubicles and know they are there, they must be able to find them when they become the appraiser.
Doug,
One other thought. What if the appraisal was ordered with the wrong information? For example, if it said street instead of avenue???? We cannot simply match the form or request and perpetuate an error. On several VA request over the years, the address has been wrong, the spelling has been wrong, and other important facts have been wrong. In all cases I simply corrected them and stated what I had corrected in the report.
Business is slow, underwriters have too little to do
I agree totally. Wrong addresses and such are often the case as well as legal descriptions.
My last VA had the wrong legal on the sales contract and that carried into the VA download site. I made corrections in the report, corrected the legal on the website when I submitted the report and noted the error as part of the analysis of the sales contract. All was easily done and as you say, the error was not perpetuated. Good point.
Underwriters are in fear of their jobs. The finger of fate is poised on their ejection seat buttons as they are about to be hurled out of their cubicles. My guess is there is going to be a surge in independent fee appraisers as these reviewers face lay offs. They will have it easy for they will be able to find those comparables on the same street that sold in the last 30 days. After all,if they can sit in their cubicles and know they are there, they must be able to find them when they become the appraiser.
CCAAMO
Senior Member
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- Sep 17, 2007
- Professional Status
- Certified General Appraiser
- State
- California
I've never heard of this requirement either. Did the lender but BFF next to his name?
Doug Meyer
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- Sep 13, 2003
- Professional Status
- Certified Residential Appraiser
- State
- Indiana
Mark to market
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- Nov 14, 2004
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- Certified Residential Appraiser
- State
- New Mexico
It does not sound like an FHA requirement, it sounds more like the lender has already typed out the paperwork and does not want to make any changes.
Below is what I could find concerning FHA requirements over addresses.
The mortgagee will give the appraiser:
the property address
Property Address
Enter the property street number and name, city, state and zip code
Enter factual data in each field or line.
Field
Protocol
Address and unit #
Enter the address and unit number for the subject and each
comparable sale.
Address
? Enter the address that can be used to locate each property. Enter
community, if needed, to identify property. For rural properties, list location
by road name, nearest intersection and side road.
Below is what I could find concerning FHA requirements over addresses.
The mortgagee will give the appraiser:
the property address
Property Address
Enter the property street number and name, city, state and zip code
Enter factual data in each field or line.
Field
Protocol
Address and unit #
Enter the address and unit number for the subject and each
comparable sale.
Address
? Enter the address that can be used to locate each property. Enter
community, if needed, to identify property. For rural properties, list location
by road name, nearest intersection and side road.
Thomas N. Morgan
Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Florida
Doug,
Remember your posts about "streaching" and "client-centered" appraisals? Those posts were some years ago. I can't believe you have posted only 300-400 times to this Forum, as is shown next to your name.
Tom
Remember your posts about "streaching" and "client-centered" appraisals? Those posts were some years ago. I can't believe you have posted only 300-400 times to this Forum, as is shown next to your name.
Tom
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