FHA -- Chipping Paint

[Greg Parker]

Greg, Don't feel to stupid. 4235.1 is the hand book for reverse mortgages.

OP.. Was this for a reverse mortgage??

Yes, and I am sorry for not stating that from the beginning.

 

[Mr Rex]

This doesn't change your report.

 

[hglenbetts]

Yes, and I am sorry for not stating that from the beginning.

A good learning oppertunity for some of us.

And CJ & Rex are correct, this does not change our reporting.

 

[RSW]

I also agree with Rex and CJ.

 

[zdfenton]

4235.1 is a handbook for users other than appraisers

Our reports have to conform to 4150.2 & 4905.1

I agree with Rex

 

[Mike Garrett RAA]

Another fine reason not to do FHA appraisals!

 

[MeMee]

Chipping Paint

Mortgagee Letter 2005-48 lists the itmes that are and are not required to be considered as repair items & Chipping Paint does need to be corrected

 

[CJ1234]

Mortgagee Letter 2005-48 lists the itmes that are and are not required to be considered as repair items & Chipping Paint does need to be corrected

Not correct...
To be clear, Defective paint surfaces (Chipping paint) requires repair on properties built PRE 1978

And, Defective exterior paint surfaces (Chipping exterior paint) requires repair on POST 1978 properties, where finish is otherwise unprotected.