Multiple ADU's. GSE Implications

[ZZGAMAZZ]

Update Regarding SFR with ADU and Jr ADU [California]

Numerous recent threads about the impact of occupancy standards that require 1 of 3 units to be owner-occupied.

Per CA BREA, it might be possible to address all 3 units in the SCA but only SFR and ADU in the rental analysis.

Almost too much noise in the previous threads to open up the topic again, but I presume at least somebody somewhere will consider that alternative solution someday....

 

[Fernando]

With the old and current forms, I was able to deal with SFR with ADUs and convey analysis to reader.
The forms were "general" in which I could address ADUs.
With new forms, I hope it won't make it more complicated.

 

[Surf Cat]

Update Regarding SFR with ADU and Jr ADU [California]

Numerous recent threads about the impact of occupancy standards that require 1 of 3 units to be owner-occupied.

Per CA BREA, it might be possible to address all 3 units in the SCA but only SFR and ADU in the rental analysis.

Almost too much noise in the previous threads to open up the topic again, but I presume at least somebody somewhere will consider that alternative solution someday....

It seems as if you're worried about all the minutiae. Recuse yourself from the assignment and throw it back. It's not worth all the worry it's causing you which would affect you from providing an accurate opinion of value.

How long has all this been going on? A week now? I can only imagine the fee which would probably be too embarrassing to throw up here on the Forum. Throw it back and spend some time with your lady for Christmas.

 

[glenn walker]

If the invester didn't catch there were multiple ADUs them and the appraiser who did the appraisal may be F Biggley because the GSEs won't purchase the loan and the investor who funded it now has a multi unit property dressed as a SFR in drag.

Doesnt matter what BREAs thoughts are it's the appraisers job to determine if a SFR with 1 ADU and if- it has multiple ADUs even if City Permits them that doesn't change the GSEs or investor's guidelines it's small income property.

Junior ADUs or any bull**** you want but that doesn't change the agency's guidelines. My guess is ZZZ already delivered the appraisal weeks ago and now the investors panicking and next ZZZ has a lot of man explaining on why it's a SFR with 3 ADUs...Lmao )

 

[ZZGAMAZZ]

If the invester didn't catch there were multiple ADUs them and the appraiser who did the appraisal may be F Biggley because the GSEs won't purchase the loan and the investor who funded it now has a multi unit property dressed as a SFR in drag. Doesnt matter what BREAs thoughts are it's the appraisers job to determine if it's a SFR with 1 ADU and if
it has multiple ADUs even if City Permits them that doesn't change the GSEs or investor's guidelines it's small income property.

You can call them Junior ADUs or any bull**** you want but that doesn't change the agency's guidelines. My guess is ZZZ already delivered the appraisal weeks ago and now the investors panicking and next ZZZ has a lot of man explaining on why it's a SFR with 3 ADUs...Lmao )

90% of my last 1000 jobs is via AMC's and whether a report goes to a GSE was never once mentionend you're aware of the CA ADU dialgue. Yea I submitted the report weeks ago for $800 and now a different lender claims to have a transfer letter needs a new exterior inspection bc it's been more than 6 weeks so I'm charging ,$600... and damn out the blie ANOTHER SFR with ADU n Jr Adu!! QUESTION: Can the market Trump GSE regs? What if the jurisdiction doesn't enforce the legal occupancy reg?

 

[Terrel L. Shields]

Doesnt matter what BREAs thoughts are

Bingo. GSEs are not going to fund it.

0% of my last 1000 jobs is via AMC's and whether a report goes to a GSE was never once mentionend

I suggest you find out because it has real implications about HOW and WHAT your report is required to address. The loans are either conforming (secondary market) or they are non-conforming loans (which could mean they are regulated by the guidelines for banks - The Interagency Guidelines.) Ask the AMC for clarity.

 

[glenn walker]

My guess is he has a client or AMC who found out that ZZZ will pass SFR With multiple ADUs as conforming and to guidelines and he's now the go to guy. Los Angeles's County and the San Fernando Valley Areas are were most of thess so called multiple Junior ADUs on SFRs are being created.

I also worked his areas and the new scammers are also doing the same with
5 and 6 unit buildings by getting some appraisers to Call 5 units a 4 unit with a 5th and 6th unit ADUs and this is to get SFR financing at better terms. They also apply on loan as owner occupied. It's loan fraud but in order to work you need a team of appraisers to help you the loan officers and lender declare that the small income properties as both Owner Occupied and Conforming SFRs with multiple ADUs.

Once it crashes the AMC and Lender blame the appraiser and suddenly don't know him anymore. The GSEs go after the lender make them buy the loan back and the lender often files complaint with appraisers State Boards.