Neighborhood Name

[Michael Boyd]

I had a client send me a request to change my "Neighborhood Name" from None Given to an actual name. They sent me a FNMA specific guideline, however, I forgot to ear mark it. Does anyone know what FNMA guideline requires a "Neighborhood Name"?

 

[Joe Flacco]

"The appraiser should enter a neighborhood name. It may be a name recognized by the
municipality in which the property is sited, such as a subdivision name. If there is not a
neighborhood name recognized by the municipality, enter the common name by which
residents refer to the location."

 

[JTip]

Without a specific subdivision name I would use township, borough or village names as the neighborhood name. There has to be some specific area you can put in this box.

 

[Michael Boyd]

I understand all of that but what is the specific FNMA section, paragraph, etc

 

[Joe Flacco]

There is nothing in the Fannie Mae selling guide in regards to what should be entered in the neighborhood name field. There are only UAD instructions for the field.

 

[Terrel L. Shields]

Go back in the local history books. Here we could use

"Hico" "Mudtown" "Appleton" "Corner Springs" "Nebo" and "Seba" all refer to towns around prior to the 20th Century.

Of course, don't ask some stupid question like how can a 4 lot subdivision be considered to be a "neighborhood"?

 

[Vermonter]

Go back in the local history books. Here we could use

"Hico" "Mudtown" "Appleton" "Corner Springs" "Nebo" and "Seba" all refer to towns around prior to the 20th Century.

Of course, don't ask some stupid question like how can a 4 lot subdivision be considered to be a "neighborhood"?

Used to use "historical" areas, but now use town names in absence of a sizable subdivision. Most here are less than 10 lots and would be useless in the neighborhood analysis.

 

[sputnam]

I had a client send me a request to change my "Neighborhood Name" from None Given to an actual name. They sent me a FNMA specific guideline, however, I forgot to ear mark it. Does anyone know what FNMA guideline requires a "Neighborhood Name"?

Fannie doesn't care much. Sometimes, I report something like 'Northwest Guilford County'. Of course, if there is a neighborhood name, I use it.

 

[Mike Garrett RAA]

If you have a four lot subdivision you might want o use the community name or even the county as the neighborhood.