2. Lender required documents - for proposed, under construction and existing less than one year old properties. Click here for link to 4145.1 Appendix 11.
Complete appraisal package or Master Appraisal Report (MAR)
Form HUD-92544, One Year Builder’s Warranty
Form HUD-92541, Builder’s Certification
A complete set of architectural drawings, plans and specification as noted above. (These are to be kept in the lender’s files and will not be submitted with the case binder when requesting endorsement.)
Termite forms of the National Pest Control Association, NPCA 99a and NPCA 99b (where applicable) (Mortgagee Letter 99-3.)
Early start letter or ten year warranty as applicable.
Applicable inspections and/or certifications
Any other additional/appropriate submissions required in satisfying FHA requirements which may include, but are not limited to the FHA Data Sheet 79G; a LOMA/LOMR or elevation certificate (Refer to , dated November 16, 1999) regarding flood plains, well water tests, local health authority approval for individual water and sewer systems, etc.
Note: Unless otherwise indicated, above listed items are to be included in the endorsement case binder. Also, Mortgagee letter 99-34 applicable for condominium projects in any capacity.
Minimum Property Standards - MPS Appraisers and others dealing with FHA loans should be familiar with HUD Handbook 4910.1 Appendix K, Minimum Property Standards for Housing, which contains a summary of the basic requirements for newly constructed single family homes insured by FHA.
Subdivision Approvals HUD/FHA no longer approve subdivisions. Paragraph 3-11 of the HUD Valuation , has been modified by . This is not applicable to Planned Unit Developments and Condominiums. The "Builder Certification” and the “Improved Area" concept are the current procedures to be followed for subdivision processing.
Final Inspection on Properties “under construction” or “existing less than one year old”. Click here for 4145.1 Chapter 6-3 1. If the home is 100% complete at time of the appraisal and the appraisal is to serve as the final:
The appraiser must have a complete set of the plans, specifications (as described in Section C) including the Builders Certification HUD-92541in order to do the appraisal.
The appraisal serves as the final inspection and Form HUD-92051 is not required.
1. The appraiser is to verify general conformance with plans and specifications;
2. Inspect for health and safety violations;
3. If no health and safety problems are noted and the property is ready for occupancy, the appraiser is to make the following statement in the remarks section of the appraisal: “This is a newly completed dwelling and appears to be in conformance with the submitted construction exhibits.”
Copy Printed: REVISION I
02/16/028 Revision Effective: 05-30-00