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#462081 - 11/28/05 04:03 PM Multiple structures & number of determinations req
JSD Offline
Platinum Poster
JSD
Joined: Oct 2000
Posts: 512
USA
The loan is secured by four different structures that each have a seperate street number, but same street name. The file only contains one flood determination and not four as expected, since there were 4 appraisals. Lender indicates that the 4 properties are on the same parcel and the flood determination was done on the parcel. Would this be acceptable?

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Lending Compliance
#462082 - 11/28/05 04:15 PM Re: Multiple structures & number of determinations req
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,710
Bloomington, IN
Page 33 of the Mandatory Purchase Guidelines: (2) Instructions for Using the SFHDF.

If the structures are located on one parcel, this is acceptable. However, you still need to read page 33 for instructions on how to list the properties.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#462083 - 11/28/05 10:30 PM Re: Multiple structures & number of determinations
Appraiser Lady Offline
100 Club
Joined: Jun 2005
Posts: 198
PA
Inquiring mind....how did an appraiser do four values on one parcel? Is it being subdivided? Because otherwise...

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