Quality

[Mr Rex]

But it does not require upgrading the quality, it is still Q6 after any (condition) issues that negatively affect the safety,soundness, or structural integrity of the property are removed. C6 requires upgrading condition to C5 to be eligible

 

[Mr Rex]

But it does not require upgrading the quality, it is still Q6 after any (condition) issues that negatively affect the safety,soundness, or structural integrity of the property are removed. C6 requires upgrading condition to C5 to be eligible

 

[residentialguy]

But it does not require upgrading the quality, it is still Q6 after any (condition) issues that negatively affect the safety,soundness, or structural integrity of the property are removed. C6 requires upgrading condition to C5 to be eligible

Not according to the updated guide. A deficiency (hazard) in the 3 S's is what ties it to a Q6, just as it ties it to C6 for condition.

Hopefully some of you lurking are seeing the problem here. Q6, just as C6 is linked to being impacted by one or more deficiencies that negatively affect the safety, soundness, or structural integrity of the property. They say they updated Q6...but as you can see, they failed miserably. I suggest that Q5 is minimal to pass. In fact, Q5 says it is built to minimal code standards. Anything below minimal is below code and a deficiency, to be repaired. You repair it, now it is a Q5 or better. It is no longer a Q6 because it is not impacted by one or more deficiencies that negatively affect the safety, soundness, or structural integrity of the property.
Q6 - automatic subject to repair - per latest FNMA selling guide.

 

[Mr Rex]

Not according to the updated guide. A deficiency (hazard) in the 3 S's is what ties it to a Q6, just as it ties it to C6 for condition.

Hopefully some of you lurking are seeing the problem here. Q6, just as C6 is linked to being impacted by one or more deficiencies that negatively affect the safety, soundness, or structural integrity of the property. They say they updated Q6...but as you can see, they failed miserably. I suggest that Q5 is minimal to pass. In fact, Q5 says it is built to minimal code standards. Anything below minimal is below code and a deficiency, to be repaired. You repair it, now it is a Q5 or better. It is no longer a Q6 because it is not impacted by one or more deficiencies that negatively affect the safety, soundness, or structural integrity of the property.
Q6 - automatic subject to repair - per latest FNMA selling guide.

You suggest all you want. Fannie says Q6 is eligible if the C6 conditions are repaired.

 

[residentialguy]

Fannie says Q6 is eligible if the C6 conditions are repaired.

No, it doesn't....and feel free to try to back that up with the guide. You can't, because it doesn't say that.
Quality has nothing to do with condition...C6 and Q6 are just handled the same way. You can have a C1 house with Q6 quality. That will need to be repaired/altered. for example...New house - C1 condition. They used Chinese drywall in the bedroom...a safety hazard, thus is it Q6, and subject to repair. Once fixed, it is C1 and Q4

 

[Mr Rex]

Properties with a quality of construction rating of Q6 are eligible for sale to Fannie Mae

Its right there in black and white. Compare the 2 paragraphs about C6 and Q6 and you will notice a subtle difference.

 

[residentialguy]

Compare the 2 paragraphs about C6 and Q6 and you will notice a subtle difference.

• 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.
• 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.'

They say virtually the same thing. They both say they are eligible for sale to Fannie Mae, if repaired.

 

[Mr Rex]

No C6 is not eligible. Q6 is. Reading is fundamental. Comprehension seems to be your issue.

 

[nstanbru]

I probably need my head examined for jumping into this conversation, but here goes. ResGuy, I've been in agreement with you through most of this until I read the 2 paragraphs you posted. Now I'm starting to lean towards Mr. Rex.

As I see it, Q6 doesn't automatically mean there are deficiencies affecting the 3s concept. If there are issues they need to be corrected; if no issues exist, the property remains Q6 and is eligible.

C6, by definition, has issues and they must be corrected, which changes the condition rating (this would not occur in the Q6 property with no issues). As they (whoever "they" are) say, just my 2 cents.

 

[residentialguy]

As I see it, Q6 doesn't automatically mean there are deficiencies affecting the 3s concept. If there are issues they need to be corrected; if no issues exist, the property remains Q6 and is eligible.

Well...the huge gorilla in the room is the paragraph right before that which emphatically states that it does:

"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"​

Is...not maybe, not possibly..."IS"

To be, or not to be.. "is" falls under: "to be"

No C6 is not eligible. Q6 is.

Q6 rating indicates that the property is impacted by one or more deficiencies that negatively affect the safety, soundness, or structural integrity of the property", therefore, since Q6 indicates that, it can't be eligible.

Let's go further. If you have one item that is a hazard, that makes the whole property a hazard. Does it make sense to say that if you have 1 Q6 item on the property, let's say a cheap window that you would deem as a Q6, even though it's not a hazard, now the whole house must be a Q6 because of that 1 safe but low quality window??? Does that make sense? I didn't think so either. But if Q6 is a quality safety issue, then it makes sense. The whole house is a Q6 and must be repaired because the quality is a danger.