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Quality

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residentialguy said:
ROTFLMA0
Nope...that is under quality
https://www.fanniemae.com/content/guide/selling/b4/1.3/06.html
View attachment 35244
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Provided any items that impact ( IF there are any items ) what it says is IF There are any repair, HSS issues then the Q6 is made subject to repair

Oy veh boys life is too short for this..have a drink now lol..

How can quality itself be made subject to repair? It can't, unless you rebuild the entire house. However if there is a repair issue, then it becomes subject to repair. After the repair is made, it still is a crappy build Q6 house.

Q6 house with a hole in roof made subject repair the roof.

After the roof repair is made it still is a Q6 if built like a POS, correct?
 
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Mr Rex said:
Why do you keep mentioning C ratings while we are discussing Q ratings? Are you dyslexic in general or just to the difference between C and Q?
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keep mentioning C ratings??? I've been working with Q ratings this whole time...until this last post after you stated "It explicitly says that Q6 is acceptable unless the condition is such that it affects the 3 S's. " ...as if that diminishes anything I've said about Q6. So at least you've acknowledged C ratings as being subject to - you're half way there. The reason I mentioned C6 in the last post is to show you that exact same verbiage in C6 ratings that you stated for Q6; so if that means I'm wrong about Q6, then that means you're wrong about C6 because it says the same thing.

Mr Rex said:
you are simply making sheet up and supporting it with constantly substituting C definitions for Q definitions when they are not interchangeable. Your premise and support are misleading at very best.
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I'm not mixing anything...they say the same thing.

Here's FNMA Condition and Quality rating comments for Q6 & C6 Now, show me all my made up stuff, LOL

  • Identifying Property Condition
As previously noted, the Condition rating selected for the property must reflect a holistic view of the condition of the property improvements. It would be inappropriate to select either a lower or higher overall rating on the basis of one or two minor inferior or superior areas of the property improvements. However, the C6 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 C6, the whole dwelling must be rated a C6.

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. See Physical Deficiencies That Affect Safety, Soundness, or Structural Integrity of the Subject Property in this topic for information related to completing appraisals on properties with safety, soundness, or structural integrity deficiencies.

  • Identifying Quality of Construction
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.
 
Properties with a quality of construction rating of Q6 are eligible for sale to Fannie Mae...

STOP MAKING STUFF UP!

upload_2018-5-7_20-34-50.jpeg
 
J Grant said:
Provided any items that impact ( IF there are any items )
Click to expand...

You fell into the same trap that Rexy did. Look at my prior post with FNMA comments for C6 and Q6 ...they say the same thing for C6, too.
 
Your posts prove you wrong. Why do you continue to argue the truth? Q6 is acceptable unless its C6. A dog chasing its tail never catches it. Q and Car not equal. If so WTF are they different line items in the grid? But the most important thing is that Fannie explicitly says that C6 is not acceptable and Q6 is.
 
Mr Rex said:
Again, not talking about C6, but Q ratings. Split the pills tomorrow before posting.
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lol...you keep posting things that are identical to C6. So if that makes it wrong for Q6, then it has to make it wrong for C6 as well. That obviously can't be, so that means...you're wrong!

Both C6 & Q6 are impacted by one or more deficiencies that negatively affect the safety, soundness, or structural integrity of the property.
Both C6 & Q6 are eligible...as long as they are repaired. Once those are repaired/altered, they are no longer Q6 or C6.

It's there in Black & White below! The wording that they have, there is no other way to interpret it. Read both of them and show me where I'm wrong. I double dare ya.

  • Identifying Property Condition
As previously noted, the Condition rating selected for the property must reflect a holistic view of the condition of the property improvements. It would be inappropriate to select either a lower or higher overall rating on the basis of one or two minor inferior or superior areas of the property improvements. However, the C6 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 C6, the whole dwelling must be rated a C6.

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. See Physical Deficiencies That Affect Safety, Soundness, or Structural Integrity of the Subject Property in this topic for information related to completing appraisals on properties with safety, soundness, or structural integrity deficiencies.

  • Identifying Quality of Construction
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.
 
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According to the latest selling guide notes that I posted, both Q6 and C6 state that the 6 rating indicates that the property is impacted (not might be) by one or more deficiencies that negatively affect the safety, soundness, or structural integrity of the property. In fact if there is even one thing on the structure that is a C6 or Q6, it drops the whole house to a C6 or Q6. Since it is impacted by a SSS deficiency, the property must be appraised subject to completion of the specific repairs or alterations.

upload_2018-5-7_20-19-41.png

To be clear:
Fannie held that that properties with a quality of construction rating of Q6 would not meet Fannie Mae’s property eligibility requirements (see LL-2010-15). However, in an announcement SEL-2011-06, FNMA put out an update (the lasted comments are posted above) saying that they revised this policy and will purchase mortgage loans secured by properties with a quality of construction rating of Q6 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 mortgage loan to Fannie Mae. However, as I clearly showed, they failed yet again, placing the appraiser in a precarious position. Typical debacle of Fannie.
 
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