ZZGAMAZZ
Elite Member
- Joined
- Jul 23, 2007
- Professional Status
- Certified Residential Appraiser
- State
- California
Few months ago I asked the AF about the 1004 page 1 "Special Assessments" that received some interesting comments including advice from Nephew Glen about the process
Coincidentally I recently completed a FHA 1004 refinance affected as follows:
--I described what are termed "Special Assessments" by Realist and identified my source.
--I received an AMC condition to change the cell to "0" "per the client, which I refused to do without tangible reason.
--Client provided a document that described the payoff of a HERO loan, which in my limited experience is a way for CA owners to integrate solar management lien into publlic taxation [???]
--I replied that the HERO loan was not included among the Special Assessment sources per Realist; and I also researched the property's online tax bill
--I received a phone call from "Janus Bank" taking exception to my request for futuer documentaition, advising me that the Special Assessments that I was reporting aren't the type of Special Assessments that are meaningful to a lender, and asking me why if the Special Assessments were real, why were they not included in the Title Report.
--I advised of my perspective to always be as helpful as possible although I can't enswer the question.
--I also realize that about 9 of every 10 appraisal reports I ever see indicate "0" but don't know if those repors are remiss, or whether Special Assessments are indeed not those reported by Realist or those idescribed as "Special Assessments" on the Tax Office online database.
Coincidentally I recently completed a FHA 1004 refinance affected as follows:
--I described what are termed "Special Assessments" by Realist and identified my source.
--I received an AMC condition to change the cell to "0" "per the client, which I refused to do without tangible reason.
--Client provided a document that described the payoff of a HERO loan, which in my limited experience is a way for CA owners to integrate solar management lien into publlic taxation [???]
--I replied that the HERO loan was not included among the Special Assessment sources per Realist; and I also researched the property's online tax bill
--I received a phone call from "Janus Bank" taking exception to my request for futuer documentaition, advising me that the Special Assessments that I was reporting aren't the type of Special Assessments that are meaningful to a lender, and asking me why if the Special Assessments were real, why were they not included in the Title Report.
--I advised of my perspective to always be as helpful as possible although I can't enswer the question.
--I also realize that about 9 of every 10 appraisal reports I ever see indicate "0" but don't know if those repors are remiss, or whether Special Assessments are indeed not those reported by Realist or those idescribed as "Special Assessments" on the Tax Office online database.
