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I Should Know This, but.....

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jtrotta

Senior Member
Joined
Jan 16, 2002
Nancy,
Love the simplicity of the LO - if FNMA and Freddie don't care any longer tell them (FNMA/Freddie) to put it in writting, as in the Fedrally required "Forms" will have to fill out 8O

Chris Harrison; u da top dog now :arrow: :?:



8)
 

Atlanta CG

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
I believe all the answers are ethically correct, but to answer the original question, the answer is NO. There is no requirement that states the prior listing must be mentioned, only current data. This is an omission in the USPAP requirements that should be addressed to clarify this. Remember, guys and gals, from grade school on - "read the question before answering it" - was ingrained in us by our teachers on test days. The question in this case was, "is there a requirement in USPAP...".
john from Atlanta
go h...
 

Nancy in Friday Harbor

Junior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Washington
Thanks to all of you!!!

While I absolutely agree with everything you said about not concealing anything and mentioning any and all activity, what I was looking for was John's response. I had looked through USPAP --- and not finding anything, figured I'd missed it in all the well worded, easily read/understood document.

The FNMA1004 does include "listing" and "year" within the same sentence, but in context it does say "current.... listing" and "prior sales ..... year". The last time I took English, that sentence does not require analysis of listings within the last year, if they are not current.

I always mention listings -- in fact, recently got in dutch with the same LO for mentioning an unsuccessful listing that was cancelled 18 months ago. Just the fact that the loan officer asked the question makes me suspicious. If she hadn't, maybe I wouldn't have known it was listed in the last year....

Thanks again,

Nancy
 
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