Wanna be an underwriter

[RSW]

How does this sound to you?

Repair broken window in bedroom. Environmental inspection is required due to brown substance on ceiling/walls, structural engineer report needed to determine the source of brown substance and state that the home is structurally sound. Walls and ceilings must be repaired per engineers and inspectors recommendations.

That works for me. But, I'm not the UW.

 

[Mike Garrett RAA]

Just tell the home owner to quit smoking!

 

[Mike Boyd]

Doesn't sound like underwriter stips but like someone at the mortgage company pre-underwriting the appraisal to make sure your report can make it through underwriter.

The reality is, a mortgage broker's idea of a quality appraisal and an appraiser's idea of one are often antithetical.

I wouldn't change a thing.

I agree with Jim. The inspector's certification that the repairs were made should be enough (assuming the inspector is licensed for what he has done)

If they want you to re-inspect it is a unreasonable request. I would do it and charge for your time and expenses. (or hire a teenager who likes to drive and take pictures. LOL)

 

[DeKay Bayliffe]

I'll do the re-inspection. I don't mind, it's a beautiful drive through the mountains. They have to understand that we charge for all expenses though. Alaska is a very large state and not very many appraisers. We get called to go hundreds of miles away all the time. I was just under the impression that with FHA, when I CB4'd it, they would make the all of the necessary requirements. I thought the following statement and the CB4 would be adequate. Read below and tell me what you think. This is what I put in my report, among other items. I'm just confused. I thought the UW's "required" and we reported.

{ Property conditions that may represent a risk to the health and safety of the occupants or the soundness of the property must be repaired. It is the appraisers' opinion, based upon HUD handbook 4150.2, that the dark brown substance on the upstairs bathroom walls and ceiling, be addressed by a professional/expert within that field. The appraised value is subject to change, depending upon the value contributions, if any, of the substance; whether it be added value or decreased value. The lender, however, as per Mortgagee Letter 2005-ML-48, must review the appraisal to determine if the appraiser has reported any property conditions that will affect the health and safety of the occupants or the security and the soundness of the property and require immediate repair where the property condition poses a threat to that criteria. All systems of the Subject property were ran. The appraiser followed HUD Inspection Protocol outlined in 4150.2 and appendix D, and the systems appeared functional at that time, however, no warranties as to their future functionality and adequacy are expressed or implied. }