Appraisals
This is your primary contact from Appraisal Links
Who is Karrie Maurice?
These are AWMS's ineligible property types.
What is manufactured homes and Co-ops? (Page 26)
Two compensation models that the broker must choose from?
What is Lender Paid Comp (LPC), and Borrower Paid Comp (BPC)
Page 12
If a borrower does not qualify for a limited review, AmeriSave will conduct this in its place.
What is a full review? (Pg. 45)
The FHA Sponsored Originator Request Form can be accessed here.
What is under the "Resources" tab within the portal? (Pg. 6)
This is what AIR stands for?
What is Appraiser Independence Requirements?
This is the maximum number of units that AWMS will fund for a second home.
What is one? (Page 26)
AWMS offers compensation plans between what percentage increments?
What is 0-2.75% in .125% increments.
Page 12
This type of policy is required for condo projects with more than 20 units.
What is a blanket fidelity policy? (Pg. 45)
AWMS requires this for a broker/company to be eligible for FHA lending.
What is one employee with a minimum of one year of FHA processing or underwriting experience? (Pg. 6)
In an appraisal transfer, this occurs if an SSR Report is not provided.
What is the appraisal cannot be transferred and/or a new appraisal must be ordered?
This is the maximum LTV for a cash-out refinance on a 2-4 unit investment property.
What is 70%? (Page 26)
For Lender Paid Comp each broker should complete what to elect its compensation rate?
What is Broker compensation schedule.
Page 12
A condo project must exceed this percentage of units that are sold and conveyed, in order to be classified as an "established project."
What is 90%? (pg. 44)
A broker partner must send AWMS a written notice if this occurs.
What is any contemplated major changes within their organization? (Mergers, acquisitions, changes in ownership, change in corporate name, material changes of financial condition)
This is the status an AWMS loan must be in, in order to facilitate an appraisal transfer to another lender.
What is a declined or cancelled?
This is the waiting period requirement for a deed-in-lieu/foreclosure?
What is 4 years from completion? (Page 27)
AWMS broker partners can make changes to their comp plans how often?
What is a quarterly basis based on a calendar year.
Page 12
These loan documents are required in both limited AND full reviews. (3)
What is Master Policy, HO-6 policy, and HO-6 Borrower Affidavit? (pg. 44-45)
Broker partners must provide these documents annually to maintain certification.
What is interim financial statements, resumes of key management, and AWMS Lender Compensation Election? (Pg. 8)
These are the restrictions on loan purpose for an appraisal transfer to AWMS?
What is none? (Page 15)
This is the maximum DTI for a conventional loan.
What is none with approved eligible findings? (Page 26)
AWMS will allow a transaction to switch from Lender Paid Comp to Borrower paid comp up until what approval status?
What is Final approval status.
Page 12
This is the maximum LTV for a 2nd home Florida condo that qualifies for limited review.
What is 70%?
Broker partners may not employ individuals named on these lists.
What is HUD's Debarment List or Fannie Mae/Freddie Mac's Exclusionary List? (Pg. 10)