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Scamguards newest requirements

9K views 22 replies 7 participants last post by  BPWY 
I call BS on Scamguards blah, blah, blah. I see HUDS convey every day with these damages that are NOT mortgagor neglect.........


As far as the photo requirements, might as well start taking a camcorder with you and e-mailing MPEGS instead of JPEGS............

Memo 1324 – Bidding and Reporting Damages Conference Call

Going forward, in addition to the “Big 6” damages, all water, mold, roof, and structural damages must be repaired prior to conveyance.

Regardless of cause, the following damages are required to be reported and bids provided to repair:
- Fire
- Flood
- Hurricane
- Tornado
- Boiler explosion
- Water
- Roof
- Mold
- Structural
- Missing items (furnace, boiler, air conditioning unit, and other systems required by local code for occupancy)
- Unfinished renovations
- Freeze damages

- HUD will not accept a property for conveyance unless the damages are truly mortgagor neglect. Therefore, bids to mitigate the damages must be submitted if the items cannot be addressed immediately using allowables or validated, if the cost is less than $1500, when a call is made from site. Delays in submission of bids to mitigate may result in vendor liability and repairs made at no charge.

- Be sure to provide eyeball estimates, quality photo documentation to support the condition of the property as well as photos to show evidence if missing items with the property report. We are not bidding to replace appliances. However, they must be reported if they are missing.

Photos documenting the condition of the property should contain the following:

- Roof condition and material
- Garage roof condition and material
- Attic condition
- Basements and crawlspaces
- Presence of furnaces, boilers, and A/C units, hot water tank
- All sides of the exterior
- All rooms inside the house including walls, floors, ceilings
- Electrical panel

- Work orders completed on or after 11/21/11 will be subject to being reopened for any of the above photos and bids that are missing from your updates.


 
GTX63 said:
We bid a trashout with them. They discounted our bid their obligatory 25%. They then marked up the bid before discount 45% to the lender.
How do I know? A little bird sent us the paperwork. I'm all for capitalism, just take one of the other, not both.

I had one like that from another company. Curb box replacement. I bid at $5K and they bid at $12K. They "ACCIDENTALLY" sent me their paperwork. I forwarded my bid along with THEIR paperwork directly to a contact i had at the bank. SHTF pretty bad over that but that company STILL works for the bank in question!!!!!
 
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