Residential Appraiser - Appraisal Blog, A Public Service of The Harris Company, REA/C 5780 West Centinela Avenue, LA., CA. 90045, 310.337.1973, harris_curtis@sbcglobal.net, <a href=’http://realestate.blogdig.net’><img src=’http://www.blogdig.net/images/buttonc.png’></a>

Certification for Manufactured Housing Appraisals, Backed by NADA Data, Now Offered Online
Copyright 2008 PR Newswire. All Rights Reserved
2008-09-22

COSTA MESA, Calif., Sept. 22 /PRNewswire/ — Appraisers looking for a competitive edge in today’s home appraisal marketplace now have online access to an in-depth manufactured home appraisal continuing education course, thanks to a new partnership between NADA Appraisal Guides and the American Association of Real Estate Schools and Colleges (AARESC).

The course, which utilizes the NADA Manufactured Housing Appraisal Guide & CD-ROM and the company’s National Appraisal System (NAS) — a field instruction manual containing in-depth step-by-step instruction, guidelines and industry notes about the physical manufactured home appraisal — is now available online at . Completion of this course, with a passing grade, gives home appraisers the knowledge to complete manufactured housing personal property appraisals. Additionally, it qualifies them to complete HUD FHA Title I appraisals.

“With the recent FHA reforms, today’s home appraisers need a competitive advantage,” said Sherrie Clevenger, managing editor at NADA Appraisal Guides. “There are many appraisal schools that offer manufactured housing as continuing education courses, but none are backed by NADA data — data recognized as the industry standard in manufactured home appraisals. This course brings convenient online access of the National Appraisal System (NAS) method, using NADA information, to appraisers looking to expand their knowledge-base and ultimately, their business.”

According to Clevenger, the course will be rolled out in phases. Phase One qualifies the appraisers for personal property appraisals, Phase Two enables appraisers to re-certify their abilities to the new standards, and Phase Three is the course that satisfies the appraiser’s continuing education (CE) requirements.

Once a home appraiser completes the online continuing education course, he or she is provided with an official Certificate of Completion, which may be conveniently downloaded at the AppraiseManufacturedHousing.com website.

“We are pleased to partner with NADA on the Manufactured Housing Valuation certification course,” said M.L. Browne, managing member of the American Association of Real Estate Schools and Colleges. “This online course provides appraisers with a solid foundation in a very specialized topic. Our organizational goal is to offer quality education in an easily accessible format — this course is easy to navigate and provides, at its completion, the BCMHV (Board Certified Manufactured Housing Valuation) designation.”

Browne says the development of this course included research into the history of manufactured housing, a detailed analysis of the elements of manufactured housing construction and a thorough interpretation of the methodology used in completing the necessary forms for the performance of a personal property appraisal.

Appraisers who are interested in learning about the online manufactured housing continuing education course, backed by NADA data, can log onto for more information.

About NADAguides.com

NADA Appraisal Guides (NADAguides.com) is the world’s largest publisher of vehicle pricing and specification information for new and used cars, trucks, vans, and SUVs, as well as van conversions, limousines, classic and collectible cars, boats, RVs, motorcycles, snowmobiles, personal watercraft and manufactured housing. The company’s consumer website, NADAguides.com (), offers a variety of new and used vehicle services in addition to valuation information. Throughout its 75-year history, NADA Appraisal Guides has earned the reputation as the recognized authority for vehicle valuations. Its website, NADAguides.com, is the most comprehensive vehicle information resource on the Internet today.

About the American Association of Real Estate Schools and Colleges (AARESC)

The American Association of Real Estate Schools and Colleges specializes in providing online courses that deliver relevant, dynamic and practical educational programs for appraisal and real estate professionals. The company enlists and encourages proven experts in real estate and appraisal to contribute their experiences and knowledge to constantly ensure the evolution of cutting edge course development. Each of the organization’s online courses is supervised by an eminently qualified instructor with years of experience in his or her field and it adheres to the strictest ethical standards for all of its courses and affiliates. A Wyoming-based organization, the American Association of Real Estate Schools and Colleges provides an official Certificate of Completion for each course completed through its Online University.

residential appraiser, residential appraisal

Appraisal Fee Proposal, JV or Sub Contracting Opportunity

The Harris Company, REA/C is in the process of responding to a RFP issued by the Orange County Fire Authorty. The scope of work involves 64 properties and their CONTENT within the Orange County Area for insurance purposes.

Individual and firms interest in a JV of SubContracting Opportunity should respond to harris_curtis@sbcglobal.net asap, the proposal is due by October 21, 2008. A copy of the RFP can be downloaded at: http://www.harriscompanyrec.com/MP1580.pdf

Commercial Appraiser, Commercial Appraisal

In Reply to: Re: DON’T MISS YOUR OPPORTUNITY TO GET LISTED FREE: posted by Cochise on August 19, 2008 at 19:27:43:

The “LOoP” is now ranked number one on Google, Yahoo, and MSN, for key words “commercial appraiser search,” and between 4 to 10 (the first page) on Google for keywords “commercial appraiser.” Your website listing is free (upon approval of content) as a Public Service of the Harris Company, REA/C.

P.S.
The public will be glad to know that we do not list appraisers affiliated with the appraisal institute (mai, sra, etc.) So don’t even try!

The LOoP
Follow Ups:
commercial appraiser, commercial appraisal

is the HUD national homeownership center reference guide mailing list for real estate industry professionals that are interested in updates to HUD Mortgagee letters, notices and guidebooks, & FHA Housing Industry Training. Please visit our homepage at: http://www.hud.gov/offices/hsg/sfh/hsgsingle.cfm Servicing lenders can visit HUD’s National Servicing Center at: http://www.hud.gov/offices/hsg/sfh/nsc/nschome.cfm This list does not provide HudHome property listings.
All-

September 16, 2008

MORTGAGEE LETTER 2008-24

TO: ALL APPROVED MORTGAGEES

SUBJECT: Home Equity Conversion Mortgage (HECM) Program - Requirements on Mortgage Originators

Section 2122 (a) (9) of the Housing and Economic Recovery Act of 2008 (HERA) added Section 255 (n) to the National Housing Act to establish new requirements on HECM mortgage originators…

To read this mortgagee letter(s) and any attachments in their entirety, please visit: http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/ view the 2008 letters and click on the letter of your choice. Mortgagee Letters from previous years can be found on the same page.

AND

New FHA proposed rule:

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
24 CFR Parts 201 and 203 [Doc. No. FR-5075-P-01] RIN 2502-AI45
TITLE: Federal Housing Administration: Insurance for Manufactured Housing
AGENCY: Office of the Assistant Secretary for Housing–Federal Housing Commissioner, HUD.
ACTION: Proposed rule.

SUMMARY: This proposed rule would amend HUD’s regulations governing manufactured homes that are to be the security for Federal Housing Administration (FHA) Title I loans and Title II insured mortgages…

To read this proposed rule in its entirety please visit: http://edocket.access.gpo.gov/2008/pdf/E8-20787.pdf

And

Reminder to all FHA insured loan servicers:

This is a reminder to all FHA insured loan servicers, a Presidential Major Disaster Declaration put into motion federal recovery programs designed to help victims of hurricanes, earthquakes, floods, tornado, other severe weather or major fires, which the President determines warrants supplemental federal aid. When the President declares a disaster, certain mortgage servicing actions are triggered; mortgagees should refer to HUD Handbook 4330.1 rev 5 for further guidance. The mortgagee must check with the Federal Emergency Management Agency (FEMA) to obtain the specific affected counties and corresponding declaration dates. This information can be found on the Internet at: http://www.fema.gov/disasters or by calling the local FEMA office.

As a reminder, the Department of Housing and Urban Development (HUD) requires a 90-day moratorium on all foreclosure actions on properties directly affected by Presidentially-declared disasters. The initial moratorium applies to not only new foreclosure initiations, but for all foreclosures in process and has historically applied for both areas declared by FEMA for individual assistance and/or for a public assistance declaration. HUD has provided this guidance in paragraph 14-2 of HUD Handbook, 4330.1 rev. 5, Administration of Insured Home Mortgages, and has repeated it in numerous mortgagee letters. It is also referenced on the following HUD website: http://www.hud.gov/offices/hsg/sfh/nsc/disaster.cfm

____________________________________________________________________________________________

Bulk subscriptions:

Some industry folks have asked, “How do I sign up my entire staff for FHA email updates?” It is easy… Just list your staff email addresses like this:

aaa@xyz.com

bbb@xyz.com

ccc@xyz.com

You can send in one email address or thousands. Email your list to: jerrold.h.mayer@hud.gov

If you have a mortgage or real estate industry friend who you want to subscribe to the national hoc reference guide mailing list, there are 3 other ways to sign up: 1. send them this link: http://www.hud.gov/offices/hsg/sfh/ref/hsgregst.cfm they can sign up for the email list there; or 2: forward them this email; or 3: Visit: http://www.usa.gov/ and subscribe at: http://apps.gsa.gov/FirstGovCommonSubscriptionService.php

To unsubscribe - go to: http://www.hud.gov/subscribe/index.cfm and click on “National Homeownership Center Reference Guide” and follow the unsubscribe instructions on that page.

____________________________________________________________________________________________

This is the FHA Single Family Housing listserv for real estate industry professionals that are interested in updates to Mortgagee letters, Notices, Guidebooks, Housing Counseling, FHA Reference Guide, Mortgage Limits, Career Opportunities, Grants, Contracting Opportunities & Housing Industry Training. Please visit us at: http://www.hud.gov/offices/hsg/sfh/hsgsingle.cfm or visit our new homepage at: http://www.fha.gov

You can find a directory of states that are serviced by the four FHA Homeownership Centers (HOC) on the web at: http://www.hud.gov/offices/hsg/sfh/hoc/hsghocs.cfm

Servicing lenders can visit FHA’s National Servicing Center on-line at: http://www.hud.gov/offices/hsg/sfh/nsc/nschome.cfm

For FHA technical support, please contact the FHA Resource Center: http://faq.fha.gov Search our online knowledge base and find answers to our most commonly asked questions. Use “live help” to get on-line technical support. You can also get email technical support at: hud@custhelp.com or phone FHA toll-free between 8:00 a.m. and 8:00 p.m. ET (5:00 a.m. to 5:00 p.m. PT) at: (800) CALLFHA or (800) 225-5342. Call FHA TDD at: (877) TDD-2HUD (877) 833-2483).

To find the FHA S/F Reference Guide on-line please visit: http://www.hud.gov/offices/hsg/sfh/ref/hsgrcont.cfm

Find out about FHA training by visiting our Events and Training calendar at: http://www.hud.gov/offices/hsg/sfh/events/events.cfm

Do you want to find out about current HUD Contracting Opportunities? To obtain a listing of the current opportunities please visit: http://www.hud.gov/offices/cpo/contract.cfm For more information please see the HUD contracting homepage at: http://www.hud.gov/offices/cpo/index.cfm

Do you want to find out about career opportunities at HUD? Visit: http://www.usajobs.opm.gov/ Please see the HUD section at: http://jobsearch.usajobs.opm.gov/a9hud.asp Application forms can be found at: http://www.usajobs.opm.gov/forms.asp

Find out about grant opportunities by visiting HUD’s Funds Available website at: http://www.hud.gov/offices/adm/grants/fundsavail.cfm

For all FHA publications visit HudClips at http://www.hud.gov/offices/adm/hudclips/index.cfm You can order hardcopies at: http://www.hud.gov/offices/adm/dds/index.cfm

Do you need to find a FHA form? You can also find all FHA forms on the HUDClips website at: http://www.hud.gov/offices/adm/hudclips/forms/

For information on Presidentially Declared Disaster areas and to learn how HUD can help, please see: http://www.hud.gov/offices/hsg/sfh/nsc/disaster.cfm or contact the National Servicing Center in Oklahoma City, 1-888-297-8685. Also see: http://www.hud.gov/katrina/index.cfm

This list does not provide HudHome property listings. To see the latest list of all HudHomes nationwide please visit: http://www.hud.gov/homes/homesforsale.cfm

This list will often provide training opportunities and event announcements for non-profit and local government HUD partners. HUD does not endorse the organizations sponsoring linked websites, and we do not endorse the views they express or the products/services they or their community/business partners offer. For more information on HUD’s web policies please visit: http://www.hud.gov/assist/webpolicies.cfm

Thank you!

If you have a mortgage industry friend that you want to subscribe to the national hoc reference guide mailing list here are 4 ways to do it: 1. email their email address to: jerrold_h._mayer@hud.gov or 2. send them this link: http://www.hud.gov/offices/hsg/sfh/ref/hsgregst.cfm they can sign up for the email list there. or 3. forward them this email or 4. Visit http://www.firstgov.gov/ and subscribe at: http://contacts.gsa.gov/listgov.nsf/
To unsubscribe - goto: http://www.hud.gov/subscribe/index.cfm and click on “National Homeownership Center Reference Guide” and follow the unsubscription instructions on that page.

thankyou
fha appraiser, fha appraisal

STATEMENT OF FHFA DIRECTOR JAMES B. LOCKHART

“As regulator of Fannie Mae, Freddie Mac and the Federal Home Loan Banks (FHLBanks), the Federal Housing Finance Agency (FHFA) strongly supports Treasury Secretary Paulson’s announcement of a comprehensive asset relief program to help stabilize the nation’s financial markets. We join President Bush and Secretary Paulson in their call for prompt, bipartisan legislation to alleviate the market pressures posed by bad mortgages.

One part of the program announced by the Secretary is for Fannie Mae and Freddie Mac to provide additional funding to mortgage markets through the purchase of mortgage-backed securities (MBS). As conservator of Fannie Mae and Freddie Mac, FHFA has directed each company to implement such a purchase program immediately. As the Enterprises increase their portfolios, FHFA examiners will continue to oversee that such activities are done in a safe and sound manner. We also expect each company to continue to increase its direct support to the mortgage market through their ongoing securitization activities.

Such activities are core to their mission as housing government-sponsored enterprises. Combined with the Treasury MBS purchase facility announced earlier this month, with these latest announcements Fannie Mae and Freddie Mac will be extending their role in providing stability, liquidity and affordability to the housing market.

The overall goal of the program will be to contribute greater stability and liquidity in the mortgage market, which should enhance consumers’ access to mortgage financing and ultimately result in reduced mortgage interest rates relative to the current situation. We have already seen mortgage rates come down since the conservatorship actions.

Importantly, the FHLBanks continue to be key contributors to the U.S. mortgage market. Advances by the FHLBanks to their member institutions provide an important source of funding for mortgages. The FHLBanks remain critical contributors to mortgage market liquidity.

During these difficult financial conditions, FHFA will continue to work with the Treasury Department, the Federal Reserve, the Securities and Exchange Commission and the federal banking agencies to monitor market conditions and coordinate regulatory activities.”
fha appraiser, fha appraisal

TOMORROW, MBA presents a timely LIVE Online Conference on FHA Developments
Register Now. Space is Limited.

MBA’s FHA Bimonthly LIVE Online Conference -With HUD and MBA Staff
TOMORROW, Thursday, September 18, Noon-1:30 p.m. EDT

Register now to attend this popular 90-minute LIVE Online Conference and gain perspective from key staff at the Department of Housing and Urban Development (HUD) on the progress of the Federal Housing Administration (FHA) in implementing provisions of H.R. 3221, the “Housing and Economic Recovery Act of 2008 (HERA)”.

Significant developments within FHA reform are a primary focus within our industry and our economy. Learn how FHA’s ongoing changes affect the mortgage industry moving forward.

Join MBA and senior staff from HUD for this LIVE Online Conference to explore the recent changes to FHA lending in general, focusing on newly issued guidance in particular. This conference gives members and other industry professionals the opportunity to hear from and interact with these experts, including:
Meg Burns, Director of the Office of Single Family Program Development, HUD
Ken Markison, Associate Vice President and Regulatory Counsel, Government Affairs, Mortgage Bankers Association
Vicki Vidal, Associate Vice President, Loan Administration, Government Affairs, Mortgage Bankers Association
These experts will cover the following relating to HERA:

Review recent mortgagee letters, including letters on risk-based pricing and down payments (view recent mortgagee letters here)
Hope for Homeowners
New insurance requirements
New HECM restrictions
Panelists will also cover:

FHA Secure
What to expect from upcoming mortgagee letters, as well as other topics
This LIVE Online Conference is an excellent opportunity to ask questions of experts on how this new legislation will impact FHA lending.

MBA’s FHA Special LIVE Online Conference takes place next Thursday, September 18 from 12:00 p.m.-1:30 p.m. EDT.

Cost to attend: If you are interested in participating in either LIVE Online Conference, you must register. The fee is $95.00 per person/per workshop for MBA members and $195.00 per person/per workshop for nonmembers. Click the button below to register online or call (800) 348-8653.

Part of MBA’s FHA Bimonthly LIVE Online Conference series: MBA’s FHA Special LIVE Online Conference is part of a regularly scheduled series with senior FHA staff. Learn more about this series.

About LIVE Online Conferences
The LIVE Online Conference interactive format, powered by CampusMBA, the education division of MBA, enables participants to easily view presentations, download articles and analyses and interact with experts through their desktop or laptop computers. Participants receive one half point toward a Certified Mortgage Banker (CMB) Designation. To participate in this convenient and inexpensive format you simply need a computer with an Internet connection and a phone.

Limited Space: Due to limited number of seats on our online conference system, we are only able to present the full interactive program to the first 125 registrants that connect on the day of the program. However, if you dial in after those allotted seats are full, you will still be able to participate in the audio portion of the program. All visual conference materials that will be used during the presentation will be available to all registrants following the program. Please call (800) 348-8653 with questions.

For additional information, please visit www.campusmba.org.

Visit MBA’s HERA Resource Center

MBA invites you to learn more about HERA by visiting the new MBA HERA Resource Center at www.mortgagebankers.org/HERA. This comprehensive resource houses the latest information on this major piece of legislation. It is the complete HERA resource for the real estate finance industry. It includes MBA’s HERA Summary, FAQs and Implementation Timelines, recent mortgagee letters and more.

You can also learn about great programming covering changes relating to HERA, from MBA and its education division CampusMBA. Many upcoming meetings and courses, both in person and online, cover changes related to HERA. View a schedule at www.mortgagebankers.org/HERA.

Visit MBA’s HERA Resource Center today.

If you have difficulties reading this HTML email, please go to http://events.mortgagebankers.org/email/65125.html.

This advertisement is brought to you by the Mortgage Bankers Association (MBA).

Copyright © 2008 Mortgage Bankers Association. All rights reserved. Terms of Use | Privacy Statement
To unsubscribe to future mailings, click here.
Mortgage Bankers Association
1331 L Street, NW
Washington, DC 20005
(800) 348-8653

single family appraiser, single family appraisal

2007 Cost vs. Value Project Descriptions
Attic Bedroom Remodel
http://www.remodeling.hw.net/costvsvalue/projectdescriptions.html
Convert unfinished attic space to a 15-by-15-foot bedroom and a 5-by-7-foot bath with shower. Include a 15-foot shed dormer, four new windows, and closet space under the eaves. Insulate and finish ceiling and walls. Carpet floor. Extend existing HVAC to new space; provide electrical wiring and lighting to code. Retain existing stairs, but add rail and baluster around stairwell.

Back-Up Power Generator
Install Guardian or similar electrical back-up system with capacity for providing 70 amps of emergency power in two 240-volt circuits and six 120-volt circuits. Assume existing LP gas supply. Include generator mounted on 2×4 concrete or composite pad; automatic transfer switch, load center; exterior disconnect, and grounding rod. Include 30 feet of conduit and electrical cable for generator connections; grounded cable for circuits; 5 feet of flexible fuel line for connection to existing rigid gas supply line; and automotive-type storage battery.

Basement Remodel
Finish the lower level of a house to create a 20-by-30-foot entertaining area with wet bar and a 5-by-8-foot full bath; construct 24 LF of finished partition to enclose mechanical area. Walls and ceilings are painted drywall throughout; exterior walls are insulated; painted trim throughout. Include five six-panel factory-painted hardboard doors with passage locksets. Electrical wiring to code.

Main room: Include 15 recessed ceiling light fixtures and 3 surface-mounted light fixtures, and a snap-together laminate flooring system.

Bathroom: Include standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, a light/fan combination, vanity light fixture, recessed medicine cabinet, towel and paper-holder hardware.

Bar area: Include 10 LF of raised-panel oak cabinets with laminate countertops, stainless steel bar sink, single-lever bar faucet, under-counter refrigerator, and vinyl floor tile.

Bathroom Addition
Add a full 6-by-8-foot bath over a crawl space with poured concrete walls. Include cultured-marble vanity top with molded sink; standard chrome faucets; 30-by-60-inch white fiberglass tub/shower with ceramic tile surround; single-lever temperature and pressure-balanced faucet; white low-profile toilet; general and spot lighting; electrical wiring to code; mirrored medicine cabinet; linen storage closet or cabinet; vinyl wallpaper; painted trim; and ceramic tile floor.

Bathroom Addition - Upscale
Add a new 100 SF master bath to existing master bedroom over a crawl space. Include 42-by-42-inch neo-angle shower with ceramic tile walls with accent strip, recessed shower caddy, body spray fixtures, and frameless glass enclosure. Include a customized whirlpool tub; stone countertop with two sinks; two mirrored medicine cabinets with lighting; a compartmentalized commode area with one-piece toilet; and a humidistat-controlled exhaust fan. Use all color fixtures. Use larger matching ceramic tiles on the floor, laid on the diagonal with ceramic tile base molding. Add general and spot lighting including waterproof shower fixture. Cabinetry shall include a custom drawer base and wall cabinets for a built-in look. Extend HVAC system, and include electric in-floor heating and heated towel bars.

Bathroom Remodel
Update an existing 5-by-7-foot bathroom. Replace all fixtures to include 30-by-60-inch porcelain-on-steel tub with 4×4-inch ceramic tile surround; new single-lever temperature and pressure-balanced shower control; standard white toilet; solid-surface vanity counter with integral sink; recessed medicine cabinet with light; ceramic tile floor; vinyl wallpaper.

Bathroom Remodel - Upscale
Expand an existing 35-square-foot bathroom to 100 square feet within existing house footprint. Relocate all fixtures. Include 42-by-42-inch neo-angle shower with ceramic tile walls with accent strip, recessed shower caddy, body spray fixtures, and frameless glass enclosure. Include a customized whirlpool tub; stone countertop with two sinks; two mirrored medicine cabinets with lighting; a compartmentalized commode area with one-piece toilet; and a humidistat-controlled exhaust fan. Use all color fixtures. Use larger matching ceramic tiles on the floor, laid on the diagonal with ceramic tile base molding. Add general and spot lighting including waterproof shower fixture. Cabinetry shall include a custom drawer base and wall cabinets for a built-in look. Extend HVAC system, and include electric in-floor heating and heated towel bars.

Deck Addition -Wood
Add a 16-by-20-foot deck using pressure-treated joists supported by 4×4 posts anchored to concrete piers. Install pressure-treated deck boards in a simple linear pattern. Include a built-in bench and planter of the same decking material. Include stairs, assuming three steps to grade. Provide a complete railing system using pressure-treated wood posts, railings, and balusters.

Deck Addition -Composite
Add a 16-by-20-foot deck using pressure-treated joists supported by 4×4 posts anchored to concrete piers. Install composite deck material in a simple linear pattern. Include a built-in bench and planter of the same decking material. Include stairs, assuming three steps to grade. Provide a complete railing using a matching system made of the same composite as the decking material.

Family Room Addition
In a style appropriate to the existing house, add a 16-by-25-foot room on a crawl space foundation with vinyl siding and fiberglass shingle roof. Include drywall interior with fiberglass insulation, pre-finished hardwood floor, and 180 square feet of glazing including windows, atrium-style exterior doors, and two operable skylights. Tie into existing HVAC. Add electrical system to code, including 12 recessed ceiling lights.

Garage Addition
Construct a 26×26-foot free-standing two-car garage, including footings and slab-on-grade foundation, 2×4 wood frame with OSB structural sheathing, and gable truss roof at 6/12 pitch. Install 25-year asphalt shingle roofing with galvanized metal flashing; vinyl siding and trim. Install 5 double-hung 30×48-inch vinyl windows; one 30/68exterior door with half-glass and lockset; and two composite 9×8 overhead doors with motorized openers. Include 100-amp breaker at main house panel and 50 Lf of trench buried conduit to feed new electrical sub-panel. Provide electrical wiring for openers; 3-way switching for fluorescent ceiling fixtures over each bay; 3-way switching for 2 exterior spotlights; outlets to code. Interior wall, floors, and ceilings remain unfinished.

Garage Addition — Upscale
For the same mid-range two-car garage, add interior wall finish using moisture resistant drywall on ceiling and three walls. At rear wall install modular storage systems, including wall panels, upper and lower storage cabinets with work surfaces, and required task lighting. Trim all window and doors and provide base molding at perimeter; paint all trim, ceiling, and walls. Finish cement floor with color, slip-resistant epoxy sealer.

Home Office Remodel
Convert an existing 12-by-12-foot room to a home office. Install custom cabinets to include 20 linear feet of laminate desktop, computer workstation, and wall cabinet storage. Rewire room for computer, fax machine, and other electronic equipment, as well as cable and telephone lines. Include drywall interior, painted trim, and commercial-grade carpeting.

Minor Kitchen Remodel
In a functional but dated 200-square-foot kitchen with 30 linear feet of cabinetry and countertops, leave cabinet boxes in place but replace fronts with new raised-panel wood doors and drawers, including new hardware. Replace wall oven and cooktop with new energy-efficient models. Replace laminate countertops; install mid-priced sink and faucet. Repaint trim, add wall covering, and remove and replace resilient flooring.

Major Kitchen Remodel
Update an outmoded 200-square-foot kitchen with a functional layout of 30 linear feet of semi-custom wood cabinets, including a 3-by-5-foot island; laminate countertops; and standard double-tub stainless-steel sink with standard single-lever faucet. Include energy-efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, garbage disposal, and custom lighting. Add new resilient flooring. Finish with painted walls, trim, and ceiling.

Major Kitchen Remodel - Upscale
Update outmoded 200-square-foot kitchen with 30 linear feet of top-of-the-line custom cherry cabinets with built-in sliding shelves and other interior accessories. Include stone countertops with imported ceramic or glass tile backsplash; built-in refrigerator, cooktop, and 36-inch commercial grade range and vent hood; built-in warming drawer, trash compactor, and built-in combination microwave and convection oven. Install high-end undermount sink with designer faucets, and built-in water filtration system. Add new general and task lighting including low-voltage under-cabinet lights. Install cork flooring, cherry trim.

Master Suite Addition
Add a 24-by-16-foot master bedroom suite over a crawl space. Include walk-in closet/dressing area, whirlpool tub in ceramic tile platform, separate 3-by-4-foot ceramic tile shower, and double-bowl vanity with solid surface countertop. Bedroom floor is carpet; bath floor is ceramic tile. Painted walls, ceiling, and trim. General and spot lighting, exhaust fan; electrical wiring to code.

Master Suite Addition - Upscale
Add a 32-by-20-foot master bedroom suite over a crawl space.

Bedroom: Add a spacious sleeping area with lounging/sitting area adjacent to large master bath. Include custom bookcases and built-in storage with millwork details; high-end gas fireplace with stone hearth and custom mantle; and large walk-in closet/dressing area with natural light, mirrors, and linen storage. Add French doors to exterior.

Bath: Include a large walk-in shower with dual shower system, stone shower walls and floor, and custom frameless glass enclosure. Add corner-design whirlpool tub bordered on two sides by windows and built into granite or marble platform with custom cabinet front. Include two sinks in separate custom vanities with stone countertops and large mirrors. Create partitioned area for luxury one-piece toilet.

General: Add 5-foot-long hospitality center with bar sink, under-counter refrigerator, custom cabinetry, granite or marble countertop, and microwave. Include soundproofing, in-floor heating, custom wall finishes and hardware, general and spot lighting, and lighting controls.

Replace Roofing
Remove existing roofing to bare wood sheathing and dispose of properly. Install 30 squares of 235-pound fiberglass asphalt shingles (min. 25-year warranty) with new felt underlayment, galvanized drip edge, and mill-finish aluminum flashing. Assume a 5-square hip roof; custom flashing at two average- sized skylights; and custom cap treatment at vented ridge.

Replace Roofing - Upscale
Remove existing roofing to bare wood sheathing and dispose of properly. Install 30 squares of standing seam metal, formed on site into 16-inch panels using factory-enameled roll steel; double-lock all seams. Use custom brake-bent flashing from same material for drip edge and all flashing at roof-wall intersections. Assume a 5-square hip roof; custom flashing at two average-sized skylights; and custom cap treatment at vented ridge. Apply over new felt underlayment; use ice-and-water membrane at eaves, valleys, and all penetrations.

Replace Siding
Replace 1,250 square feet of existing siding with new vinyl siding, including all trim.

Replace Siding - Upscale (fiber-cement)
Replace 1,250 square feet of existing siding with new fiber-cement siding, factory primed and factory painted. Include all 4/4 and 5/4 trim using either fiber-cement boards or cellular PVC.

Replace Siding - Upscale (foam-backed vinyl)
Replace 1,250 square feet of existing siding with new foam-backed vinyl siding, including factory trim at all openings and corners.

Sunroom Addition
Construct a 200-square-foot sunroom addition, including footings and slab-on-grade foundation. Post-and-beam framing exposed on interior side. Wall glazing: vinyl or aluminum clad awning and casement windows with low-E, laminated or tempered glazing and screens. Roof glazing: 10- large aluminum clad venting skylights with screens. Provide ceiling fan; insulate all non-glass areas; provide movable shades for glass area. Quarry tile or equal on floor.

Two-Story Addition
Add a first-floor family room and a second-floor bedroom with full bath in a 24-by-16-foot two-story wing over a crawl space. Add new HVAC system to handle addition; electrical wiring to code.

Family room: Include a prefabricated gas fireplace; 11 3-by-5-foot double-hung insulated clad-wood windows; an atrium-style exterior door; carpeted floors; painted drywall on walls and ceiling; and painted trim.

Bathroom: 5 by 8 feet. Include a one-piece fiberglass tub/shower unit; standard white toilet; wood vanity with solid-surface countertop; resilient vinyl flooring; and mirrored medicine cabinet with built-in light strip; papered walls; and painted trim; exhaust fan. Bedroom: Include walk-in closet/dressing area; carpet; painted walls, ceiling, and trim; general and spot lighting.

Replace Windows - Vinyl
Replace 10 existing 3-by-5-foot double-hung windows with insulated vinyl replacement windows. Wrap existing exterior trim as required to match. Do not disturb existing interior trim.

Replace Windows - Wood
Replace 10 existing 3-by-5-foot double-hung windows with insulated wood replacement windows, exterior clad in vinyl or aluminum. Wrap existing exterior trim as required to match. Do not disturb existing interior trim.

Replace Windows - Vinyl - Upscale
Replace 10 existing 3-by-5-foot double-hung windows with insulated, low-E, simulated-divided-light vinyl windows. Simulated woodgrain interior finish; custom-color exterior finish. Trim exterior to match existing; do not disturb existing interior trim.

Replace Windows - Wood - Upscale
Replace 10 existing 3-by-5-foot double-hung windows with insulated, low-E, simulated-divided-light wood windows. Interior finish of stained hardwood; exterior finish of custom-color aluminum cladding. Trim exterior to match existing; do not disturb existing interior trim.

User Guidelines | Help | Privacy Policy
residential appraiser, residential appraisal

AN IMPORTANT E-NEWS ANNOUNCEMENT FROM CalHFA:
Please DO NOT REPLY to this email message, this email box is not monitored and therefore responses to your questions may be delayed.

The California Housing Finance Agency has released the following Program Bulletins:

#2008-29 - CalHFA Conventional Underwriting Guidelines Update
#2008-30 - Revised Interest Rates

For detailed information see these Program Bulletins on CalHFA’s web site.
http://www.calhfa.ca.gov/homeownership/bulletins/index.htm

If you would like to unsubscribe from any of the CalHFA E-News lists, please visit our website at https://wp11.calhfa.ca.gov/Enews/
If you have questions or comments, please direct them to our Marketing email at marketing@calhfa.ca.gov Thank you.

CALIFORNIA HOUSING FINANCE AGENCY

single family appraiser, single family appraisal

This is the HUD national homeownership center reference guide mailing list for real estate industry professionals that are interested in updates to HUD Mortgagee letters, notices and guidebooks, & FHA Housing Industry Training. Please visit our homepage at: http://www.hud.gov/offices/hsg/sfh/hsgsingle.cfm Servicing lenders can visit HUD’s National Servicing Center at: http://www.hud.gov/offices/hsg/sfh/nsc/nschome.cfm This list does not provide HudHome property listings.
All-

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000

ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER

September 5, 2008

MORTGAGEE LETTER 2008 -23

TO: ALL APPROVED MORTGAGEES

SUBJECT: Revised Downpayment and Maximum Mortgage Requirements

The Housing and Economic Recovery Act of 2008 (HERA) revised the National Housing Act to:

1. Require that the mortgagor “shall have paid, in cash or its equivalent…an amount equal to not less than 3.5 percent of the appraised value of the property….”;

2. Eliminate the variable loan-to-value limits that were based on the combination of the property value and the average closing costs of the State where the property is located (also known as “downpayment simplification”); and

3. Limit the total FHA-insured first mortgage to 100 percent of the appraised value, and require the inclusion of the upfront mortgage insurance premium (UFMIP) within that limit.

This mortgagee letter provides guidance to mortgagees regarding the revised downpayment and maximum mortgage requirements for single family mortgage to be insured by FHA. …purchase money mortgages with new FHA case numbers assigned on or after January 1, 2009 must meet the revised downpayment requirements of HERA, as set forth in this mortgagee letter…

To read this mortgagee letter and any attachments in their entirety, please visit: http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/ view the 2008 letters and click on the letter of your choice. Mortgagee Letters from previous years can be found on the same page.

AND

FHA HECM Fair in Newport Beach, CA:

There is still time to register as a vendor for the September 26, 2008 - Newport Beach, CA, FHA Reverse Mortgage Information Fair & Expo for Seniors. Learn from the experts about the benefits & risks of reverse mortgages. Limited exhibitor space still available, for more information email: Shelby@irmevents.com

AND

New FHA training around the nation:

September 15, 2008 - Jackson, MS. Basic Loss Mitigation training for HUD Approved Housing Counselors and Local Servicing Lenders. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/events/ams091508.pdf

September 15-16, 2008 - Indianapolis, IN. FREE FHA Education Sessions presented by the FHA Atlanta Homeownership Center. The training will cover topics such as Underwriting (Property and Credit), Loan Origination and Appraisal. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/events/ain091508.pdf

September 15-17, 2008 - Orange Beach, AL. Basic Loss Mitigation training for HUD Approved Housing Counselors plus educational opportunities for originators and appraisers. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/events/aal091508.pdf

September 17, 2008 – San Antonio, TX. Advanced Direct Endorsement Underwriting. FREE, one-day class covers advanced FHA underwriting procedures and updates. The class is geared toward all experienced underwriters, loan officers and processors and will provide a thorough understanding of more complex situations regarding underwriting FHA-insured loans. Recommended for those with a minimum of 1 year experience of DE underwriting, best for those with 2 to 3 years experience. Registration required. More information at: http://www.hud.gov/event_registration/index_2.cfm?eventID=1258

September 17, 2008 - Newark, NJ. Basic Loss Mitigation Training. This training is for HUD approved Housing and Counseling Agencies will include a presentation of the basic loss mitigation options available to FHA Borrowers including Special Forbearance, Loan Modification, Partial Claim Loans, Pre-Foreclosure Sale, and Deed in Lieu of Foreclosure. Registration Required. More information at: http://www.hud.gov/event_registration/index_2.cfm?eventID=1245

September 18, 2008 – San Antonio, TX. The FHA Appraisal. FREE one-day class for appraisers & lenders will discuss FHA appraisal requirements including FHA Appraisal Protocol and the review of FHA property appraisals. Approved for seven (7) hours of Continuing Education Credit from the State of Texas. Registration required. More information at: http://www.hud.gov/event_registration/index_2.cfm?eventID=1257

September 18, 2008 – Las Vegas, NV. Free Basic FHA Training for NV Real Estate Agents, 3 Hrs RE General CE. FHA topics include borrower & property eligibility requirements, mortgage insurance premiums, mortgage programs, basic underwriting & appraisal issues, loss mitigation, & HudHomes. On-line registration no later than 9/16/08. Include your state RE license # in the “Position” block. Registration required, no fee More information at: http://www.hud.gov/event_registration/index.cfm

September 18-19, 2008 - Atlanta, GA. the ABC’s of FHA Lending. 2 sessions. FHA training for mortgage brokers, processors & loan officers. Sponsored by the Georgia Association of Mortgage Brokers Educational Foundation. 8 Hrs GA CEU credit. Registration required, fee. More information at: http://gambef.org/index.php?page=0

September 23-24, 2008 - Memphis, TN. FREE FHA Education Sessions presented by the Atlanta Homeownership Center. The training will cover topics such as Underwriting (Property and Credit), Loan Origination and Appraisal. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/events/atn092308.pdf

September 25, 2008 - Santa Ana, CA. FHA Education Series. Presented by the California Association of Mortgage Brokers (CAMB). Learn the most recent information on FHA legislation, programs & procedures for lenders, realtors, builders, appraisers & other mortgage professionals. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/events/sca092508.pdf

September 25, 2008 - Alpharetta, GA. A half day education seminar with topics including FHA Modernization, Hope for Homeowners, Overview of the HERA/Safe Mortgage Licensing Act and the new TILA disclosures. Sponsored by the Mortgage Bankers Association of Georgia. Registration required, fee. More information at http://www.mbag.org/media/pdf/sept25seminar.pdf

September 26, 2008 - Newport Beach, CA, FHA Reverse Mortgage Information Fair & Expo for Seniors. Learn from the experts about the benefits & risks of reverse mortgages. Limited exhibitor space still available, for more information email: Shelby@irmevents.com or visit http://www.nrmlaonline.org

October 9, 2008 - Greenville, SC. A Guide to FHA/VA Mortgage Lending. Sponsored by the South Carolina Mortgage Brokers Association (SCMBA). CE Credit for qualified professionals. Registration required, fee. More information at: http://www.scmba.org/613638.html

October 2-3, 2008 - ABC’s of FHA at the OKAMP Education Conference. Sponsored by the Oklahoma Association of Mortgage Professionals. CE credit for OK & AR Professionals. Registration required, fee. More information at: http://www.okamp.com/index2.html

November 17-19, 2008 - Los Angeles, CA. National Reverse Mortgage Lenders Association (NRMLA) 2008 Annual Meeting & Expo. Registration required, fee. More information at: http://www.nrmlaonline.org/annual2008/%20

November 19, 2008 - Oklahoma City, OK. National Servicing Center presents training on SF Default Monitoring System (SFDMS) Reporting, FHA Connection, Credit Alert Interactive Voice Response System (CAIVRS), Mortgage Insurance Premium (MIP Portfolio Reconciliation), Tier Ranking System (TRS), and Rollout of Servicing Scorecard. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm

February 18-19, 2009 - Oklahoma City, OK. National Servicing Center Early Delinquency Servicing Activities and HUD’s Loss Mitigation Program. This training is for HUD-approved mortgagees, HUD-approved Housing Counselors, and Nonprofit Housing Counselors. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm

April 15, 2009 - Oklahoma City, OK. National Servicing Center presents training on SF Default Monitoring System (SFDMS) Reporting, FHA Connection, Credit Alert Interactive Voice Response System (CAIVRS), Mortgage Insurance Premium (MIP Portfolio Reconciliation), Tier Ranking System (TRS), and Rollout of Servicing Scorecard. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm

May 13-14, 2009 - Oklahoma City, OK. National Servicing Center Early Delinquency Servicing Activities and HUD’s Loss Mitigation Program. This training is for HUD-approved mortgagees, HUD-approved Housing Counselors, and Nonprofit Housing Counselors. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm

August 19-20, 2009 - Oklahoma City, OK. National Servicing Center Early Delinquency Servicing Activities and HUD’s Loss Mitigation Program. This training is for HUD-approved mortgagees, HUD-approved Housing Counselors, and Nonprofit Housing Counselors. Registration required, no fee. More information at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm

Online FHA Processing Training Class for Mortgage Processors, Underwriters & Originators. Sponsored by the IRC. Live, instructor led online FHA training classes to students nationwide. Registration required, fee. More info at: http://www.fha-training.org/

NeighborWorks® Training Institute conducts frequent training workshops around the nation for non-profit housing professionals. Scholarships are available on a limited basis for qualified non-profit agencies. More info at: http://nw.org/network/training/training.asp

The Illinois Mortgage Bankers Association (IMBA) conducts frequent training workshops for mortgage professionals on FHA subjects. Visit their website for a calendar of upcoming training opportunities. More info at: http://www.imba.org/i4a/pages/index.cfm?pageid=1

Live & Online FHA Mortgage Training Classes for Mortgage Professionals nationwide. Sponsored by Dekalb Metro Housing Counseling Center. Visit them on-line for more info. Fee. More info at: http://www.dekalbmetrohousing.org/

The Illinois Association of Mortgage Professionals has frequent training courses for mortgage industry professionals. Visit their website for more information. Fee. More info at: http://www.iamp.biz/educationregistrationforms.asp

Illinois Operation Homefront sponsors live instructor-led mortgage training across the country. Visit their website for more information. Fee.

For more information on, and to register for these training opportunities please visit: http://www.hud.gov/offices/hsg/sfh/events/events

___________________________________________________________________________________________

Bulk subscriptions:
fha appraiser, fha appraisal

Veterans Benefits Administration Circular 26-08-17
Department of Veterans Affairs September 5, 2008
Washington, DC 20420

Elimination/Consolidation of Certain Certifications

1. PURPOSE: This circular announces the elimination of certain certifications and requirements in the processing of VA guaranteed home loans. It also provides a consolidated certification (exhibit A) for use in originating VA loans. These changes will help lenders by eliminating redundancies and consolidating mandatory certifications into a single certification. The changes do not signal a relaxing of VA credit underwriting standards or a lessening of lender responsibilities.

2. PROCESSING CHANGES

a. VA Form 26-1820, Report and Certification of Loan Disbursement: Effective immediately, it will no longer be necessary for the form to be signed by an “officer” of the firm. Instead, any individual authorized by the lender to bind the firm to the certifications listed in item 24, may sign the form.

b. Reserve/Guard Activation Statement: Effective immediately, lenders no longer need to obtain a statement as to a person’s status in the Reserve or Guard when processing a loan. Lenders should still consider if a veteran-borrower may be subject to activation and, if so, follow the guidance detailed in chapter 4 of the Lender’s Handbook.

c. Underwriter’s Certification for Automated Underwriting Cases: Effective immediately, lenders no longer need to execute the Underwriter’s Certification found in Chapter 4, Topic 8, Documentation for Automated Underwriting Cases. The certification essentially repeats requirements noted in a preceding section on Data Integrity.

3. CONSOLIDATION OF CERTIFICATIONS: As noted above, exhibit A contains the most common certifications – both for veterans and lenders - that are required for various loan types. For ease of processing, lenders may wish to use this exhibit rather than obtain separate certifications.

4. SUMMARY: As previously noted, these changes in no way lessen the responsibility of lenders to underwrite loans in a sound, prudent manner in compliance with published VA directives. Nor do these changes compromise VA’s ability to seek indemnification from lenders when a review reveals a flagrant disregard for VA credit underwriting guidelines. Instead, the intent is to eliminate unnecessary certifications and thus further simplify the processing of VA guaranteed loans for lenders.

5. RESCISSION: This circular is rescinded January 1, 2010.

By Direction of the Under Secretary for Benefits

Judith A. Caden, Director
Loan Guaranty Service

Exhibit A
COMMON CERTIFICATIONS

Borrower Certifications

1. INTEREST RATE AND DISCOUNT DISCLOSURE STATEMENT
This statement must be delivered to you prior to execution of the certification on the HUD/VA addendum to the Uniform Residential Loan Application.

VA does not establish or set a maximum or minimum interest rate for mortgage loans. A borrower may pay interest rate and discount points as agreed upon by you and the lender. It’s also permissible for a seller to pay all or a portion of the discount points. The interest rate and discount points as well as the length of time the lender will honor the loan terms are all freely negotiable with the lender. Lenders may or may not agree to offer the loan terms for a definite period of time through a lock-in agreement. Note that any agreement with the seller could also affect the date you can close your loan.

The terms of your agreement with the lender will determine if, and how much, the interest rate and discount points may change before closing. An increase of more that 1.00% in the interest rate may require re-underwriting by VA or the lender. It may also be necessary for the lender to obtain your signature on a new application. If, after re-underwriting, it is determined that you remain qualified from a credit risk standpoint, the conditions of your agreements with the lender and the seller may require you to complete the transaction or lose your deposit.

IT IS YOUR RESPONSIBILITY TO ASSURE THAT YOU UNDERSTAND THE TRANSACTION.
Borrower : __________________________________________________ Date: _______________________________

2. INTEREST RATE REDUCTION REFINANCING LOAN (IRRRL) CERTIFICATION

Previous Loan Number ___________________ Loan Amount $_________________ Original Term ______________
Monthly Payment $______________________ Interest Rate _____________________________________________
Original Obligors __________________________________________________________________________________

New Loan Number ________________ Proposed Loan Amount $_________________ Proposed Term____________
Proposed Monthly payment $_____________________________ Interest Rate ________________________________
Obligors _____________________________

Monthly decrease in payments $_______________________________________________________________________
Total Closing Costs $________________________________________________________________________________
Recoup Closing Costs _____________________Months
I/We hereby certify that I/we understand the effect of the loan payment and interest rate involved in refinancing our home loan.

__________________________________________ _____________________________ ________________
Borrower Co-Borrower Date

3. ADJUSTABLE RATE MORTGAGE (ARM) CERTIFICATION

The undersigned borrower(s) acknowledge receipt of the appropriate ARM loan program disclosure and the “Consumer Handbook on Adjustable Rate Mortgages” prior to submitting an ARM loan application or payment of any non-refundable fee.

__________________________ _________
Borrower Signature Date

_________________________ _________
Co-Borrower’s Signature Date

Lender Certifications

1. LENDER CERTIFICATION FOR PAYMENT INCREASE

I hereby certify that the borrower(s) qualify for the new payment (PITI) which exceeds the previous payment by at least 20 percent.

________________________________________________ ___________________________________
Lender Representative Date

2. INTEREST RATE REDUCTION REFINANCING LOAN (IRRRL) LOAN STATUS

I hereby certify that the VA loan being refinanced was current (not more than 30 days past due) at the time of loan closing.

____________________________________________________ ___________________________________
Lender Representative Date

3. POWER OF ATTORNEY CERTIFICATION

I hereby certify that written evidence in the form of correspondence from the veteran or, if on active military duty, statement of his or her commanding officer or designee, indicating that the veteran was alive and, if the veteran is on active military duty, not missing in action status on _____________________, was examined by the undersigned and that said date is subsequent to the date the note and security instruments were executed on the veteran’s behalf by the attorney-in-fact.

_____________________________________________ ___________________________________
Lender Representative Date

4. LATE REPORTING CERTIFICATION

Guaranty is being requested more than 60 days after loan closing because ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

_____________________________________________ ___________________________________
Lender Representative Date

5. LOAN QUALITY CERTIFICATION

The undersigned lender certifies that the loan application, all verifications of employment, deposit, and other income and credit verification documents have been processed in compliance with 38 CFR Part 36; that all credit reports obtained in connection with the processing of this borrower’s loan application have been provided to VA; that, to the best of the undersigned lender’s knowledge and belief, the loan meets the underwriting standards recited in chapter 37 of title 38 United States Code and 38 CFR Part 36; and that all information provided in support of this loan is true, complete and accurate to the best of the undersigned lender’s knowledge and belief.

____________________________________________ __________________________________
Lender Representative Date

va appraiser, va appraisal