Landsafe 1004c Survey

[jeff samolinski]

Anybody else seen the Landsafe 1004c survey? I have a problem with the one where they ask if there are local codes regarding manufactured homes and are you familiar with them to apply them appropriately in the report. Then they send me another checklist that begins to bring us back to the ole days where they wanted us to state that foundation is installed per manufacturers specs.

 

[Jo Ann Meyer Stratton]

I haven't seen the survey. Are they gathering general information regarding manufactured housing in your market? Or are they coming up with a check list of their own? If they are coming up with a check list of their own--tell them to go away--Fannie Mae has a check list (1004C) and that is the only one you will complete!

 

[Bobby Bucks]

The fine folks at Water Danger Appraisal were one of the first to enter the data mining field with the albatross called Lighthouse which was an utter failure. I must assume that their survey of the 1004C is an attempt at "knowledge mining" since there never seems to be anyone there with even a rudimentary level of appraisal knowledge and that includes the corporate offices. Whenever there is anything new in the appraisal business, you can always count on Water Danger Appraisal sending out mass emails and faxes 10 months later to inform all members of their "team" of the recent changes. By the way, I wonder where they are now with that APO or appraisal price opinion? Maybe their next product will be the "Landsafe Lookup" which will be for free comp checks. Their motto seems to be lower the fees and outsource the liability. :blink:

 

[USPAP Compliant]

Bobby,


The NCAB declared the APO to be an appraisal and notifired Landsafe. You can read the NCAB action on this issue at the link below.

Top of page 2, "It is an appraisal!"

http://ncappraisalboard.org/bulletins/Sum03.pdf

 

[jeff samolinski]

Talked to the phone girl today at Landsafe. Apparently they are picking up a new lender that does a lot of mannies. Looks like the lender has some additional lender requirements. I would expect this to be tried by other lenders--ie... trying to get appraisers to do the foundation, adherence to local codes tie downs per manufacturer recommendations. Amazing aint it. I faxed back form saying I will do 1004's with 1004c addendum only and I have already revised my fee quote sheet that I use to fax to clients with addendum note for mannies that says I will provide only the 1004c. Gotta stick to our guns on this one. Hey Jo-Ann, LSI gave you some credit in their announcement about the 1004c addendum. They referenced your web page. Hope you gave them permission.

 

[Doug in NC]

At first I was very annoyed that FNMA had decided to throw in more work for manufactured home appraisals (especially since I only learned of the change, along with the lender, after I had collected my fee from the borrower). That 1004c may be a good thing, it gives me an excuse to charge an extra $50 for manufactured home jobs.

 

[Jo Ann Meyer Stratton]

Jeff: Just reread your posting and the timing sunk in. About a year ago they contacted me and then the only issue of theirs I have seen they had their own article about manufactured homes. And I haven't seen the issue you are discussing. Would be interesting to read. By the way NAIFA made the changes I requested to my latest issue, the web master was on vacation and just got it changed yesterday. I now have the comment about Fannie Mae's titling procedures added to the article. And there is a link to this chat room at the end of my article.

 

[DB]

I have the 1004C available in an an Adobe interactive form available for those that don't want to pay their software providers exhorbitant fees to upgrade Just contact me and I will forward it to you. Also, I am working on the FNMC70B now and will have it available soon. B)