Quality

[J Grant]

Let me ask you, JG. Can you submit a property "as-is" that is negatively affected by safety, soundness, or structural integrity issues?

But not ALL Q6 properties have negative safety, soundness or structural issues ! That was why Fannie updated it.. fannie says it will accept Q6 provided ANY items be addressed...which means IF there are any repair items that need to be addressed.

A house can be very low quality or built with lower skill labor Q6 but structurally sound and not presenting any safety issues. It just may be very cheap materials /aka thus merit the Q6 rating.

 

[Mr Rex]

So you can submit a property "as-is" that is negatively affected by safety, soundness, or structural integrity issues?

Q6 does not mean that it is negatively affected by safety, soundness, or structural integrity issues. C6 does.

 

[residentialguy]

Q6 does not mean that it is negatively affected by safety, soundness, or structural integrity issues.

But not ALL Q6 properties have negative safety, soundness or structural issues !

Is that what it says in the latest guide???

"the Q6 Rating is an exception because it indicates that the property is impacted by one or more deficiencies that negatively affect the safety, soundness, or structural integrity of the property"

 

[Mr Rex]

So you can submit a property "as-is" that is negatively affected by safety, soundness, or structural integrity issues?

Q6 does not mean that it is negatively affected by safety, soundness, or structural integrity issues. C6 does.

 

[residentialguy]

Q6 does not mean that it is negatively affected by safety, soundness, or structural integrity issues.

Does your guide say something different then the one I'm looking at
Published May 1, 2018
that says

"the Q6 Rating is an exception because it indicates that the property is impacted by one or more deficiencies that negatively affect the safety, soundness, or structural integrity of the property"​

 

[Mr Rex]

Does yours say something different?

The same approach used in identifying the condition of the property is also applicable to identifying the quality of construction. The selected rating must reflect a holistic view of the quality of construction. However, the Q6 Rating is an exception because it indicates that the property is impacted by one or more deficiencies that negatively affect the safety, soundness, or structural integrity of the property. As a result, if any portion of the dwelling is rated a Q6, the whole dwelling must be rated a Q6.

Properties with a quality of construction rating of Q6 are eligible for sale to Fannie Mae provided any items in relation to the quality of construction that impact the safety, soundness, or structural integrity of the property are repaired prior to the delivery of the loan. See Physical Deficiencies That Affect Safety, Soundness, or Structural Integrity of the Subject Property in this topic for requirements when completing appraisals on properties with safety, soundness, or structural integrity deficiencies.

 

[residentialguy]

Does yours say something different?

The same approach used in identifying the condition of the property is also applicable to identifying the quality of construction. The selected rating must reflect a holistic view of the quality of construction. However, the Q6 Rating is an exception because it indicates that the property is impacted by one or more deficiencies that negatively affect the safety, soundness, or structural integrity of the property. As a result, if any portion of the dwelling is rated a Q6, the whole dwelling must be rated a Q6.

Properties with a quality of construction rating of Q6 are eligible for sale to Fannie Mae provided any items in relation to the quality of construction that impact the safety, soundness, or structural integrity of the property are repaired prior to the delivery of the loan. See Physical Deficiencies That Affect Safety, Soundness, or Structural Integrity of the Subject Property in this topic for requirements when completing appraisals on properties with safety, soundness, or structural integrity deficiencies.

Right....the same verbiage they put for C6, as well. If it is a Q6 or C6, it IS impacted by one of the 3 S's. That means the catalyst of Q6 and C6 is the safety issue. They are both eligible, if they are repaired. You can't get around that.

 

[residentialguy]

Properties with a quality of construction rating of Q6 are eligible for sale to Fannie Mae provided any items in relation to the quality of construction that impact the safety, soundness, or structural integrity of the property are repaired prior to the delivery of the loan.

Ok, then your argument holds for C6. It says: Properties with a Condition Rating of C6 are eligible for sale to Fannie Mae provided any deficiencies that impact the safety, soundness, or structural integrity of the property are repaired prior to delivery of the loan.'

 

[Mr Rex]

Repair of the conditions that affect the safety etc will change the C rating. It does not change the Q rating.

 

[residentialguy]

Repair of the conditions that affect the safety etc will change the C rating. It does not change the Q rating.

Then that would mean that Q6 may not be impacted by one or more deficiencies that negatively affect the safety, soundness, or structural integrity of the property. Unfortunately, that's not what they say. They say a Q6 IS impacted...so much so, that if ONE item is found to be Q6, then the whole house must be rated a Q6...just like C6