What is it with these FHA orders lately?

[Mr Rex]

Mentor, I think that you would do yourself and the client a positive by providing them with the AF FHA checklist that was created recently with the caveat that it is not all inclusive etc and keep your wienie opinion away from the process

 

[JSmith43]

Mentor, I think that you would do yourself and the client a positive by providing them with the AF FHA checklist that was created recently with the caveat that it is not all inclusive etc and keep your wienie opinion away from the process

I didn't know what you were talking about. Perhaps a sticky I missed. But, now I see it is a recent thread.

Thanks, I'll take a look at it.

 

[Mr Rex]

I didn't know what you were talking about. Perhaps a sticky I missed. But, now I see it is a recent thread.

Thanks, I'll take a look at it.

Have you heard that the CA is BS? Try to keep up.

 

[JSmith43]

Have you heard that the CA is BS? Try to keep up.

You know, I think I remember when they started this list project. I haven't had enough time lately to read every stink-en post

This list is a pretty good memory jogger for me, but if I handed it out to civilians, I doubt they would be able to predict what and how the appraiser would report an item let alone, how much an UW might over-react if the observation wasn't properly "word smith-ed" to be universally understandable.

 

[Mr Rex]

You know, I think I remember when they started this list project. I haven't had enough time lately to read every stink-en post

This list is a pretty good memory jogger for me, but if I handed it out to civilians, I doubt they would be able to predict what and how the appraiser would report an item let alone, how much an UW might over-react if the observation wasn't properly "word smith-ed" to be universally understandable.

I agree, you were the one that suggested you be a middle man interpreter unless I mis-understood your post.

 

[Caterina Platt]

Mentor,

Being 203K capable is a rarity. You will start to get all sorts of referrals, as not every 203b program lender is also able to originate the renovation products. This could turn into an awesome niche. I'm sure you've already captured that scent.

As for the checklist, I agree that it's far too 'up to interpretation' and your typical homeowner will likely get checklist overload. Considering the amount of paperwork completion and documentation gathering that already is in place, and the stress level this causes most, I'm not sure how successful you'd be with the checklist handed to them for completion. I'd stick with trying to do your interview.

 

[RSW]

Mentor and Rex,

Are you talking about the check list that Rufus and I created? If you are here it is in pdf format.

 

[JSmith43]

Experienced agents are a bit lost, possibly because in their experience, he "appraisal experience" has varied quite a bit, and I am including the time period after the 2005 mortgagee letter that got rid of the old HUD form and off loaded the final decision on MPS to the UW (at least theoretically).

They get the real deal, by and large, from our appraisers, though the clarity is not always optimal.

I just looked at a property because of how a first time buyer described some window trim that was missing. Trim, heck, it was exterior brick moulding and casing to some degree. Looked like failed treatment of southern pine to me.

The agent hadn't worked with me before and when I told her the windows would in all likelihood prevent a 203B "as is" option for this REO, but a 203K was available. She had her home handyman (gulp) check my analysis. Lucky me. He agreed. Rodney Dangerfield: I don't get no respect:laugh:

 

[Offshore]

Mentor I’m sure you mean well, but the idea of mixing mold, peeling lead paint, 203K and AO-19 might be an extremely toxic cocktail in eager, but inexperienced hands. I recall a guy in chemistry class who thought he was going to impress the girls by creating some new compound, what he did accomplish was to gain the full attention of the local fire department. You do what you want to do, but don’t be surprised if instead of wearing 2 different hats, you end up with a student beanie like they issue on the Rex short bus. I suppose the next product residential appraisers can look forward to is an FHA comp check with a lead paint addendum. :icon_idea:

 

[Offshore]

duplicate post