Puzzled By HUD FHA Property Preservation Guidelines

Puzzled By HUD FHA Property Preservation Guidelines?

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July 2 – July 6

The content of this ebook came about by way of the creation of an online course for property preservation contractors. The course is one of a group of courses on topics the understanding of which is essential for the success of property preservation contractors. The group of courses are known as the “Foundation Courses” and are available at www.QCUniversity.com. Teaching is a transfer of knowledge. Instructors give information or instruction with the intention of having the student learn or understand the subject and go on to accept the teachings as fact or principal. Continue Reading

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QC University Awards First Badge

June 3, 2014
New Cubic Yard columnist, Austyn Korpi of Florida, made a request to QC University that she be allowed to enroll and evaluate QC University’s first free online course for Property Preservation Contractors, Reading The Instructions. Austyn successfully completed the course and automatically received the FIRST BADGE AWARDED BY QC UNIVERSITY. Congratulations, Austyn.   Continue Reading

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Joe Hummel Understanding Reporting Damages

Understanding Reporting by Damage Categories

Understanding Reporting by Damage Categories
By Joe Hummel

 
Understanding Reporting by Damage Categories
By Joe Hummel
TO ASSIST IN REPORTING IMPROVEMENT, I have given perspective to reporting by understanding Insurer regulation. In this case I am focusing on HUD regulations, and reporting per compliance to Convey Condition. All damage reported in a property is broken down into categories. These categories are used to itemized loss by category to remain congruent with Insurer categories mandated by mortgage type. Each Servicer client requires damage reporting per category consistent with HUD ML 2010-18, all damages are reported under the following categories affecting convey based on acceptable Conveyance standards: **This is the contractors standard to be followed while working under contract in the Property Preservation Industry servicing HUD properties. Continue Reading

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REO Preservation & Protection Cost Schedules for Rhode Island

REO Preservation & Protection Cost Schedules for Rhode Island
Maximum Allowable
1-Unit $1650.00
2-Unit $1800.00
3-Unit $1950.00
4-Unit $2100.00
Note: If a property is located in a state where winterization is required, and the property has hot water heat, add $250/unit. Property Inspection
Occupancy Inspection (Exterior); add’l units $10.00 $20.00
Initial Vacant Property Inspection (Interior); add’l units $30.00 $35.00
Vacant Property Inspection (On-Going); add’l units $25.00 $30.00

Lock Change/Securing
Maximum Allowable Securing Fee $350.00
Secure Pool (sqft) $2.05/sq.ft. Secure Pool Maximum Amount $1050.00
Secure One Door $40.00
Hot-Tub, Jacuzzi, or Spa $55.00

Boarding
Boarding 1/2-inch (UI) $0.80
Boarding 5/8-inch (UI) $0.90
Boarding 3/4-inch (UI) $1.00
Screening (UI) $0.55
Variations
Boarding is pre-approved for the following zip code areas in the cities of: Providence: 05901 02902 02903 02904 02905 02906 02907 02908 02909 02910 02911 02912 02918 02919 02940 Cranston: 02823 02905 02907 02910 02920 02921

Debris Removal
Please see page 33 of ML 07-03 for Large Appliance, Pest Infestation and Tire Amounts
Per Cubic Yard $50.00
Maximum Allowable 1-Unit (12 cu yd.) $600.00
Maximum Allowable 2-Unit (15 cu yd.) $750.00
Maximum Allowable 3-Unit (18 cu yd.) $900.00
Maximum Allowable 4-Unit (21 cu yd.) $1050.00
Vehicle Removal $210.00

Yard Maintenance
Initial Cut up to 10,000 sq. ft. $100.00
Initial Cut 10,001 to 15,000 sq. Continue Reading

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REO Preservation & Protection Cost Schedules for South Carolina

REO Preservation & Protection Cost Schedules for South Carolina
 

Maximum Allowable
1-Unit $1100.00
2-Unit $1250.00
3-Unit $1400.00
4-Unit $1550.00
Note: If a property is located in a state where winterization is required, and the property has hot water heat, add $250/unit. Property Inspection
Occupancy Inspection (Exterior); add’l units $10.00 $20.00
Initial Vacant Property Inspection (Interior); add’l units $30.00 $35.00
Vacant Property Inspection (On-Going); add’l units $25.00 $30.00

Lock Change/Securing
Maximum Allowable Securing Fee $350.00
Secure Pool (sqft) $2.05/sq.ft. Secure Pool Maximum Amount $1050.00
Secure One Door $40.00
Hot-Tub, Jacuzzi, or Spa $55.00

Boarding
Boarding 1/2-inch (UI) $0.80
Boarding 5/8-inch (UI) $0.90
Boarding 3/4-inch (UI) $1.00
Screening (UI) $0.55

Debris Removal
Please see page 33 of ML 07-03 for Large Appliance, Pest Infestation and Tire Amounts
Per Cubic Yard $55.00
Maximum Allowable 1-Unit (12 cu yd.) $660.00
Maximum Allowable 2-Unit (15 cu yd.) $825.00
Maximum Allowable 3-Unit (18 cu yd.) $990.00
Maximum Allowable 4-Unit (21 cu yd.) $1155.00
Vehicle Removal $235.00
Variations
Mortgagees are not to perform any interior debris removal except for health or safety hazards (raw garbage, animal feces, etc.) or municipal liens without prior approval from the M&M contractor when conveyance is imminent. Yard Maintenance
Initial Cut up to 10,000 sq. ft. Continue Reading

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REO Preservation & Protection Cost Schedules for South Dakota

REO Preservation & Protection Cost Schedules for South Dakota
Maximum Allowable
1-Unit $1100.00
2-Unit $1250.00
3-Unit $1400.00
4-Unit $1550.00
Note: If a property is located in a state where winterization is required, and the property has hot water heat, add $250/unit. Property Inspection
Occupancy Inspection (Exterior); add’l units $10.00 $20.00
Initial Vacant Property Inspection (Interior); add’l units $30.00 $35.00
Vacant Property Inspection (On-Going); add’l units $25.00 $30.00

Lock Change/Securing
Maximum Allowable Securing Fee $350.00
Secure Pool (sqft) $2.05/sq.ft. Secure Pool Maximum Amount $1050.00
Secure One Door $40.00
Hot-Tub, Jacuzzi, or Spa $55.00

Boarding
Boarding 1/2-inch (UI) $0.80
Boarding 5/8-inch (UI) $0.90
Boarding 3/4-inch (UI) $1.00
Screening (UI) $0.55

Debris Removal
Please see page 33 of ML 07-03 for Large Appliance, Pest Infestation and Tire Amounts
Per Cubic Yard $45.00
Maximum Allowable 1-Unit (12 cu yd.) $540.00
Maximum Allowable 2-Unit (15 cu yd.) $675.00
Maximum Allowable 3-Unit (18 cu yd.) $810.00
Maximum Allowable 4-Unit (21 cu yd.) $945.00
Vehicle Removal $190.00

Yard Maintenance
Initial Cut up to 10,000 sq. ft. $85.00
Initial Cut 10,001 to 15,000 sq. Continue Reading

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REO Preservation & Protection Cost Schedules for Tennessee

<h2 style=”text-align: center;”>REO Preservation &amp; Protection Cost Schedules for Tennessee</h2>
<strong>Maximum Allowable</strong>
1-Unit $1100.00
2-Unit $1250.00
3-Unit $1400.00
4-Unit $1550.00
<em>Note: If a property is located in a state where winterization is required, and the property has hot water heat, add $250/unit.</em>

<strong>Property Inspection</strong>
Occupancy Inspection (Exterior); add’l units $10.00 $20.00
Initial Vacant Property Inspection (Interior); add’l units $30.00 $35.00
Vacant Property Inspection (On-Going); add’l units $25.00 $30.00

<strong>Lock Change/Securing</strong>
Maximum Allowable Securing Fee $350.00
Secure Pool (sqft) $2.05/sq.ft. Secure Pool Maximum Amount $1050.00
Secure One Door $40.00
Hot-Tub, Jacuzzi, or Spa $55.00

<strong>Boarding</strong>
Boarding 1/2-inch (UI) $0.80
Boarding 5/8-inch (UI) $0.90
Boarding 3/4-inch (UI) $1.00
Screening (UI) $0.55

<strong>Debris Removal</strong>
Please see page 33 of ML 07-03 for Large Appliance, Pest Infestation and Tire Amounts
Per Cubic Yard $50.00
Maximum Allowable 1-Unit (12 cu yd.) $600.00
Maximum Allowable 2-Unit (15 cu yd.) $750.00
Maximum Allowable 3-Unit (18 cu yd.) $900.00
Maximum Allowable 4-Unit (21 cu yd.) $1050.00
Vehicle Removal $195.00
<strong>Variations</strong>
<em>(Outside of Memphis) No variation to Attachment 5, Page 1.</em>
<em> (Memphis) One before and one after photograph is required for each room or outbuilding containing debris to be removed.</em>

<strong>Yard Maintenance</strong>
Initial Cut up to 10,000 sq. ft. $85.00
Initial Cut 10,001 to 15,000 sq. ft. Continue Reading

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REO Preservation & Protection Cost Schedules for Texas

REO Preservation & Protection Cost Schedules for Texas
Maximum Allowable
1-Unit $1100.00
2-Unit $1250.00
3-Unit $1400.00
4-Unit $1550.00
Note: If a property is located in a state where winterization is required, and the property has hot water heat, add $250/unit. Property Inspection
Occupancy Inspection (Exterior); add’l units $10.00 $20.00
Initial Vacant Property Inspection (Interior); add’l units $30.00 $35.00
Vacant Property Inspection (On-Going); add’l units $25.00 $30.00

Lock Change/Securing
Maximum Allowable Securing Fee $350.00
Secure Pool (sqft) $2.05/sq.ft. Secure Pool Maximum Amount $1050.00
Secure One Door $40.00
Hot-Tub, Jacuzzi, or Spa $55.00

Boarding
Boarding 1/2-inch (UI) $0.80
Boarding 5/8-inch (UI) $0.90
Boarding 3/4-inch (UI) $1.00
Screening (UI) $0.55

Debris Removal
Please see page 33 of ML 07-03 for Large Appliance, Pest Infestation and Tire Amounts
Per Cubic Yard $45.00
Maximum Allowable 1-Unit (12 cu yd.) $540.00
Maximum Allowable 2-Unit (15 cu yd.) $675.00
Maximum Allowable 3-Unit (18 cu yd.) $810.00
Maximum Allowable 4-Unit (21 cu yd.) $945.00
Vehicle Removal $190.00

Yard Maintenance
Initial Cut up to 10,000 sq. ft. $85.00
Initial Cut 10,001 to 15,000 sq. Continue Reading

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REO Preservation & Protection Cost Schedules for Utah

REO Preservation & Protection Cost Schedules for Utah
Maximum Allowable
1-Unit $1100.00
2-Unit $1250.00
3-Unit $1400.00
4-Unit $1550.00
Note: If a property is located in a state where winterization is required, and the property has hot water heat, add $250/unit. Property Inspection
Occupancy Inspection (Exterior); add’l units $10.00 $20.00
Initial Vacant Property Inspection (Interior); add’l units $30.00 $35.00
Vacant Property Inspection (On-Going); add’l units $25.00 $30.00

Lock Change/Securing
Maximum Allowable Securing Fee $350.00
Secure Pool (sqft) $2.05/sq.ft. Secure Pool Maximum Amount $1050.00
Secure One Door $40.00
Hot-Tub, Jacuzzi, or Spa $55.00

Boarding
Boarding 1/2-inch (UI) $0.80
Boarding 5/8-inch (UI) $0.90
Boarding 3/4-inch (UI) $1.00
Screening (UI) $0.55

Debris Removal
Please see page 33 of ML 07-03 for Large Appliance, Pest Infestation and Tire Amounts
Per Cubic Yard $40.00
Maximum Allowable 1-Unit (12 cu yd.) $480.00
Maximum Allowable 2-Unit (15 cu yd.) $600.00
Maximum Allowable 3-Unit (18 cu yd.) $720.00
Maximum Allowable 4-Unit (21 cu yd.) $840.00
Vehicle Removal $195.00

Yard Maintenance
Initial Cut up to 10,000 sq. ft. $85.00
Initial Cut 10,001 to 15,000 sq. Continue Reading

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REO Preservation & Protection Cost Schedules for Vermont

REO Preservation & Protection Cost Schedules for Vermont
Maximum Allowable
1-Unit $1650.00
2-Unit $1800.00
3-Unit $1950.00
4-Unit $2100.00
Note: If a property is located in a state where winterization is required, and the property has hot water heat, add $250/unit. Property Inspection
Occupancy Inspection (Exterior); add’l units $10.00 $20.00
Initial Vacant Property Inspection (Interior); add’l units $30.00 $35.00
Vacant Property Inspection (On-Going); add’l units $25.00 $30.00

Lock Change/Securing
Maximum Allowable Securing Fee $350.00
Secure Pool (sqft) $2.05/sq.ft. Secure Pool Maximum Amount $1050.00
Secure One Door $40.00
Hot-Tub, Jacuzzi, or Spa $55.00

Boarding
Boarding 1/2-inch (UI) $0.80
Boarding 5/8-inch (UI) $0.90
Boarding 3/4-inch (UI) $1.00
Screening (UI) $0.55

Debris Removal
Please see page 33 of ML 07-03 for Large Appliance, Pest Infestation and Tire Amounts
Per Cubic Yard $50.00
Maximum Allowable 1-Unit (12 cu yd.) $600.00
Maximum Allowable 2-Unit (15 cu yd.) $750.00
Maximum Allowable 3-Unit (18 cu yd.) $900.00
Maximum Allowable 4-Unit (21 cu yd.) $1050.00
Vehicle Removal $215.00
Variations
Mortgagees are to remove exterior debris. Mortgagees will continue to be responsible for removing interior debris which is considered to be a health and/or safety hazard. Also, if local government cites a code violation, assesses fines or places liens for interior debris, the mortgagee shall be responsible for debris removal. Continue Reading

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Game Over: Insert Two Credits… by Joe Hummel

Before I start, I would like to say thank you for the many people offering support! I am humbled knowing my insight offers some positive meaning to people. I am attempting to take a position to help our industry with effort, affiliation, and smart design. I am offering my perspective to anyone willing to think outside the box on issues. The C-Level cloud gets thick at times, and we need a strong dose of true reality- aside from the numbers. Continue Reading

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Virginia

REO Preservation & Protection Cost Schedules for Virginia
Maximum Allowable
1-Unit $1400.00
2-Unit $1550.00
3-Unit $1700.00
4-Unit $1850.00
Note: If a property is located in a state where winterization is required, and the property has hot water heat, add $250/unit. Property Inspection
Occupancy Inspection (Exterior); add’l units $10.00 $20.00
Initial Vacant Property Inspection (Interior); add’l units $30.00 $35.00
Vacant Property Inspection (On-Going); add’l units $25.00 $30.00

Lock Change/Securing
Maximum Allowable Securing Fee $350.00
Secure Pool (sqft) $2.05/sq.ft. Secure Pool Maximum Amount $1050.00
Secure One Door $40.00
Hot-Tub, Jacuzzi, or Spa $55.00

Boarding
Boarding 1/2-inch (UI) $0.80
Boarding 5/8-inch (UI) $0.90
Boarding 3/4-inch (UI) $1.00
Screening (UI) $0.55

Debris Removal
Please see page 33 of ML 07-03 for Large Appliance, Pest Infestation and Tire Amounts
Per Cubic Yard $55.00
Maximum Allowable 1-Unit (12 cu yd.) $660.00
Maximum Allowable 2-Unit (15 cu yd.) $825.00
Maximum Allowable 3-Unit (18 cu yd.) $990.00
Maximum Allowable 4-Unit (21 cu yd.) $1155.00
Vehicle Removal $230.00

Yard Maintenance
Initial Cut up to 10,000 sq. ft. $95.00
Initial Cut 10,001 to 15,000 sq. Continue Reading

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Virgin Islands

REO Preservation & Protection Cost Schedules for Virgin Islands
Maximum Allowable
1-Unit $1100.00
2-Unit $1250.00
3-Unit $1400.00
4-Unit $1550.00
Note: If a property is located in a state where winterization is required, and the property has hot water heat, add $250/unit. Property Inspection
Occupancy Inspection (Exterior); add’l units $10.00 $20.00
Initial Vacant Property Inspection (Interior); add’l units $30.00 $35.00
Vacant Property Inspection (On-Going); add’l units $25.00 $30.00

Lock Change/Securing
Maximum Allowable Securing Fee $350.00
Secure Pool (sqft) $2.05/sq.ft. Secure Pool Maximum Amount $1050.00
Secure One Door $40.00
Hot-Tub, Jacuzzi, or Spa $55.00

Boarding
Boarding 1/2-inch (UI) $0.80
Boarding 5/8-inch (UI) $0.90
Boarding 3/4-inch (UI) $1.00
Screening (UI) $0.55
Variations
Exterior surface and edges of all plywood should be painted with one coat white primer and one coat white finish. Use of screws to secure panels to wood frame windows is prohibited. Additionally, boarding is pre-approved in the zip code areas listed on pages 21 and 22 under heading Carribean (EXCEPTION: There is no pre-approved boarding in ANY gated community within these zip code areas). Continue Reading

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