Order Instructions

Order Instructions

Pre Inspection

Communication Policy: Think of Yourself As A Customer

Nationwide prides itself on providing excellent customer service. Communication is the key to making this process smooth for all parties involved.

1. Please call the contact within 8 hours of accepting the order.

2. If this is for an interior inspection, please inform the contact that interior photos are required by the lender.

3. If you have been unable to communicate with the contact in the first 24 hours, please advise us immediately.

4. If you are unable to meet the required turn times, please contact NPAS immediately of the new ETA and the reason for the delay.

Property Types

If you encounter any issues with property type, please stop and notify Nationwide immediately for instructions on how to proceed.

If you discover the property type is one of the following, please see the instructions below.

Log Homes

1. Comparable sales should be similar log style homes. Please provide commentary if not.

2. The property should be common / typical for the area, the highest/best should be residential and the property should demonstrate market acceptance

Mixed Use 1. The primary use of the property should be single

family residential in nature with a reasonable layout.

2. The appraiser to comment on any affect the mixed use has on marketability and compatibility with the subjects’ neighborhood.

Multiple Tax Parcels

1. The lot/parcels must be adjoining 2. Parcels that would otherwise be adjoined, but a

divided by a road, are acceptable if the parcel without a residence is a non-buildable lot

3. Each parcel must have the same basic zoning 4. All parcels must be under the same legal

description 5. Only one lot / parcel may have a dwelling unit

Order Instructions

Property Types (Continued)

6. Adjoining lots/parcel may have either no improvements or limited non-residential improvements such as a garage

7. In instances where dwelling unit exists on multiple tax parcels: Acceptable only if dwelling is built across all tax parcels with no possibility of lot subdivision.

If the property is any of the following types, Please stop and contact Nationwide for further instructions.

1. Boarding House 2. Condo projects with pending litigation 3. Condos with less than 400 sq ft. 4. Condotels 5. Dome Homes 6. Geothermal Homes 7. Hawaii properties located in Lava Zones 1 or 2 8. Properties located in a Superfund Site

At the Inspection

Photo Requirements

For FHA reports – Original comparable and listing photos must be provided. MLS / Online photos are not acceptable.

1. All sides of the subject property 2. A street scene photo from both directions.

(Showing a piece of the subject property in the photo)

3. All rooms, including, but not limited to all bedrooms, bathrooms, finished basements and laundry rooms.

4. Attic, basement, and crawl space, if applicable. (Required for FHA / USDA orders)

5. All porches, decks, patios and pools. (These items must be included on your sketch.)

6. Any items needing repairs or have deferred maintenance.

7. Any items recently renovated 8. Interior and exterior photos of any detached

structure that adds value, i.e. barns, stables, sheds, garages.

9. All external obsolescences and any external item that may impact value.

10. All mechanical items including the electrical box with the door open (FHA / USDA only)

Carbon Monoxide Detectors, Smoke Detectors and Water Heaters

Appraiser must comment that smoke/CO detectors were/were not present. IF PRESENT, A PHOTO OF THE SMOKE & CO DETECTORS ARE REQUIRED.

Order Instructions

Swimming Pools and Spas

If value is given to any of these items

1. Please state whether or not the pool (in-ground or above-ground) /spa poses any health, safety or environmental hazards.

2. Please comment if the pool / spa is fully operational. Please include photos of the pool/spa

Health and Safety Issues The appraiser must comment on all health and safety issues and all deficiencies and needed repairs

Preparing the Report

• Comparables

• In the Report

1. Provide 3 closed comparables, 2 of which must be dated within 90 days. If you are not able to supply the required comparables, you must comment why.

2. Provide 2 listings, 1 of which must be dated within 90 days. If you are not able to supply the required listings, you must comment why

1. Please include a copy of your current license and

E&O insurance declaration page. 2. Your license number must exactly match what is

entered into the report. Please do not add any characters or designations per UAD guidelines

3. The Market Conditions Addendum to the appraisal report (Form 1004C) is required for all residential properties per UAD

4. Provide a 36 month sales history for the property. If the property has sold within the prior 3 years and the value has increased or decreased, please provide a detailed commentary (upgrades, distressed prior sale, etc.) to assist the reader in understanding the change. If any of the comparable sales have sold within the prior year, please analyze and comment on the comparables change in value to the best of your ability.

5. When the final value differs from the neighborhood predominate value, please comment

6. Complete the Cost Approach & include remaining economic life. If there is a valid reason why a credible cost approach cannot be developed, cite the reason and provide the site value in the cost approach.

7. List the exposure time per USPAP requirements

Order Instructions 8. Comment if you have inspected the property within

the last three years, per USPAP guidelines 9. If this is a purchase, the appraiser must review the

fully executed contact and fill in the contract section per UAD guidelines.

10. If you make time adjustments, please comment as to why.

11. All bathroom facilities must be 100% complete. If a bathroom is currently undergoing a remodel, or has a required repair, please make the report subject to.

12. If the property is in a C5 or C6 condition, please provide a cost to cure and comment for what is needed in order to bring the subject property to a C4 rating.

FHA Reports

1. The intended user of the report is The Lender/Client/FHA/HUD

2. The case number must be on all pages 3. Must include FHA Verbiage the states the subject

meets or does not meet FHA/HUD minimum property standards as outlined in FHA Handbook 4000.1

4. Please comment if utilities are on and in working condition.

5. Please comment that all appliances are in working condition.

USDA Report 1. The intended user of the report is The

Lender/Client/USDA 2. Must include FHA Verbiage the states the subject

meets or does not meet FHA/HUD minimum property standards as outlined in FHA Handbook 4000.1

3. Please comment if utilities are on and in working condition.

4. Please comment that all appliances are in working condition.

.

DISASTER POLICY

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Contents

TABLE OF CONTENTS A. Overview I. ConventionalRequirements

B. TimeframePeriods II. FHAandUSDARequirements

C. DisasterInspectionReports III. VARequirements

D. DisasterInspectionRequirements IV. JumboRequirements

A. Overview The purpose of this policy is to clarify processes for identifying major disaster areas as well as property inspection requirements required for all loans originated

by Finance of America Mortgage.

Presidentially Declared Major Disaster

For a major disaster to be federally declared, the Governor of the affected State must submit a request for assistance to the President with specifics to the

severity and magnitude of the disaster. Once approved, the President will make the declaration. The President can declare a major disaster for any natural

event, including hurricanes, tornados, storm, high water, wind-driven water, tidal wave, tsunami, earthquake, volcanic eruption, landslide, mudslide, snowstorm

or drought, or regardless of the cause, fire, flood or explosion. The Federal Emergency Management Agency (FEMA) will post the President’s declaration to their

website. Counties identified within the declaration will follow these policy requirements.

https://www.fema.gov/ or https://www.fema.gov/disasters

Phone: 800-621-FEMA (3362)

Knowledge of a recent Adverse Event

When a Finance of America Mortgage Branch/Center/Office has knowledge or believes the potential subject property has been impacted by a recent adverse

event, additional due diligence is required. Property Inspections may be required even though FEMA has not sent a declaration. All offices are required to take

appropriate action when there is knowledge of a potential major disaster. Reference websites outside of FEMA are:

National Hurricane Center: http://www.nhc.noaa.gov/

National Interagency Fire Center: http://www.nifc.gov/fireInfo/fireInfo_main.html

National Earthquake Center: http://earthquake.usgs.gov/contactus/golden/neic.php

National Weather Service: http://www.weather.gov/

http://www.fema.gov/

http://www.fema.gov/disasters

http://www.nhc.noaa.gov/

http://www.nifc.gov/fireInfo/fireInfo_main.html

http://earthquake.usgs.gov/contactus/golden/neic.php

http://www.weather.gov/

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Contents

B. Timeframe Periods

TIMEFRAME PERIODS

Specific dates for determining disaster requirements for individual assistance are as follows:

INCIDENT PERIOD DATE The date/duration time the disaster event occurred.

FEMA RELEASE (DECLARATION) DATE

The date FEMA announces the Presidentially Declared Major Disaster or updates to that Disaster.

Note: FEMA declaration dates may change when additional counties are added to the original disaster declaration

FAM INSPECTION TIMEFRAME

FAM’s Disaster policy applies during an ongoing disaster and up to 90 days from the FEMA release/declaration date.

C. Disaster Inspection Reports To determine there was not damage to the property or to identify the extent of damage to properties affected by disasters, a Property Inspection or Disaster Inspection report is required. The following section contains FAM’s documentation requirements.

DISASTER INSPECTION REPORTS ELIGIBLE INSPECTORS Acceptable sources to complete the Report:

The original appraiser

Nationally established field company

State/local licensed inspector Note: The inspector/appraiser must not be a party to the loan transaction

INSPECTION REPORTS Acceptable Inspection Reports:

Fannie Mae Form 1004D or Freddie Mac Form 442 signed and completed by the original appraiser (with Photos) An acceptable Inspection report completed by a licensed contractor or home inspector (with Photos)

DOCUMENTATION

REQUIREMENTS

All reports must contain the following:

Loan number, borrower name, full property address, disaster type identified, date of certification, name of person inspecting, inspector’s signature and license number.(License must be imaged in the file)

Certification of the condition of the property to include if there is any damage to Structure, Roof, Landscape etc..

Specify any impact the disaster had on the habitability and marketability or value of the property

Note: It may be necessary for multiple inspections to be completed based on the incident timeframe

FEES Fees associated with any re-inspection are the borrower’s responsibility to pay POC. Re-disclosure of fees required.

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Contents

D. Disaster Inspection Requirements

CONVENTIONAL REQUIREMENTS: CONFORMING AND HIGH BALANCE If Then

The effective date of the

appraisal is dated PRIOR

to the incident period

end date:


appraisal was ON or AFTER the incident period end date:

The loan is a HARP loan

and reflects a (PIW

through DU or HVE

through LPA) PRIOR to, ON or AFTER the

incident period end

date:

The original appraiser or acceptable inspector must re-inspect the property.

All inspection reports must contain exterior photos of the property. This includes but is not limited to:

Front of the subject

Address verification (house number and street sign)

Street scene

The inspection must indicate the property is either:

Free from damage and note that the disaster had no effect on the value or marketability of the property or

Damaged with the amount of damage addressed and itemized. A completion of repairs must be provided on 1004D/442 or completion report prior to the close of the loan

Note: Repair Escrows are not permitted

The appraisal must reflect that the property is free of any damage. All comps used should be dated post the disaster incident date. If they are

not, appraiser will need to provide a current photo of each.

If there is damage, it must be indicated in the appraisal report and the amount of damage addressed and itemized. A completion of repairs

must be provided on 1004D/442 or completion report prior to closing the loan


A licensed home inspector or appraiser must warrant the property has not sustained any damage from the disaster and the inspection report must contain:

Exterior inspection with photos. This includes but is not limited to:

o Front of the subject o Address verification (house number and street sign) o Street scene

Statement as to the physical condition of the property

Statement as to the dwelling habitability

If the inspection reflects any damage sustained from the disaster:

A full appraisal is required Note: Repair Escrows are not permitted

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CONVENTIONAL REQUIREMENTS: CONFORMING AND HIGH BALANCE If Then

The loan is NOT a HARP

loan and a PIW was

granted on the DU

findings PRIOR to, ON or AFTER the incident period end date::

A full appraisal with an interior/exterior inspection is required. The appraisal must reflect that the property is free of any damage. All comps

used should be dated post the disaster incident date. If they are not, appraiser will need to provide a current photo of each.

If there is damage, it must be indicated in the appraisal report and the amount of damage addressed and itemized. A completion of repairs

must be provided on 1004D/442 or completion report prior to closing the loan


If Then

FHA-USDA REQUIREMENTS




end date:


appraisal was ON or AFTER the incident period

end date:

The original appraiser or any licensed FHA roster appraiser must re-inspect the property. All inspection reports must contain:

Exterior inspection with photos. This includes but is not limited to: o Front of the subject o Address verification (house number and street sign) o Street scene


A statement as to whether sustained damage is greater than or less than $5000

If the inspection reflects the damage is less than $5000 and the property is habitable:

An itemized repair estimate with costs must be included.

A re-inspection reflecting these repairs have been completed PTC If the inspection reflects the damage is greater than $5000 and the property is not habitable:

A interior/exterior re-inspection reflecting all repairs have been completed

Appraiser must note the property is now habitable


A full appraisal with an interior/exterior inspection is required. The appraiser must provide due diligence in addressing the condition of the

property and any impact to the marketability the disaster may have caused if the inspection occurred within 90 days of the incident end

date.

All appraisals must contain:

Interior/Exterior inspections with photos

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Contents

If Then

FHA-USDA REQUIREMENTS


A statement as to whether sustained damage is greater than or less than $5000

If the inspection reflects the damage is less than $5000 and the property is habitable:

An itemized repair estimate with costs must be included

A re-inspection reflecting these repairs have been completed PTC If the inspection reflects the damage is greater than $5000 and the property is not habitable:

A interior/exterior re-inspection is required reflecting all repairs have been completed

Appraiser must note the property is now habitable

The loan is a FHA

Streamline:


A licensed home inspector or appraiser must warrant the property has not sustained any damage from the disaster and inspection report must contain:






A full appraisal is required


If Then

VA REQUIREMENTS

The effective date of the appraisal is dated

PRIOR to the incident period end date:

A VA approved appraiser must provide an exterior inspection of the property.

The inspection report must contain:


o Front of the subject o Address verification (house number and street sign)

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If Then

o Street scene

VA REQUIREMENTS





The VA lender and Veteran must complete and sign a Disaster Certification (COR 0365) meeting requirements for VA loans that are secured by

properties in disaster areas prior to close.


The effective date of the appraisal was ON or AFTER the incident period end date:

The loan is a VA IRRRL

(with or without an

appraisal):

A full appraisal with an interior/exterior inspection is required. The appraiser must provide due diligence in addressing the condition of the

property and any impact to the marketability the disaster may have caused if the inspection occurred within 90 days of the incident end date.




A licensed home inspector or appraiser must warrant the property has not sustained any damage from the disaster. The inspection report must contain:










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Contents

If Then

JUMBO REQUIREMENTS




end date:


appraisal was ON or AFTER the incident period end date::

The original appraiser must re-inspect the property.

All inspection reports must contain:



The inspection must indicate the property is either:

Free from damage and note that the disaster had no effect on the value or marketability of the property or

Damaged with the amount of damage addressed and itemized. A completion of repairs must be provided on 1004D or completion

report prior to the close of the loan


The appraisal must reflect that the property is free of any damage. All comps used should be dated post the disaster incident. If they are not, appraiser will need to provide a current photo of each.

If there is damage, indicate in the appraisal report and the amount of damage addressed and itemized. A completion of repairs must be

provided on 1004D/442 or completion report prior to closing the loan


Documents

Order Instructions