FHA exam
145) New FHA Test
11/06/07
Hi Henry,
I have a question regarding the FHA Test. It may seem silly but I want to see if I am understanding this correctly.
The following is a direct quote from their website:
"The exam is part of the application. The answers to the exam questions (other than those related to Uniform Standards of Professional Appraisal Practice (USPAP)) are specifically stated in the Valuation Protocol, Appendix D of Handbook 4150.2. FHA expects the responses to the exam questions to be a verbatim recitation of the language in the Valuation Protocol."
Am I missing something here or basically are they saying "copy the answers exactly as they appear in the Valuation Protocol."
Thanks
Eddie Davis edavis2@earthlink.net
Dear Eddie,
I recently received a mail order catalogue that said if I could find an item in the catalogue that matched a picture on the special offer, I could have it free (with any order I made). I believe their goal was to get me to read through the whole catalogue. This is what I think the FHA is doing with this requirement.
H2
P.S. Several readers have suggested we publish the answers. I don't think we are going to do that!
I have a question regarding the FHA Test. It may seem silly but I want to see if I am understanding this correctly.
The following is a direct quote from their website:
"The exam is part of the application. The answers to the exam questions (other than those related to Uniform Standards of Professional Appraisal Practice (USPAP)) are specifically stated in the Valuation Protocol, Appendix D of Handbook 4150.2. FHA expects the responses to the exam questions to be a verbatim recitation of the language in the Valuation Protocol."
Am I missing something here or basically are they saying "copy the answers exactly as they appear in the Valuation Protocol."
Thanks
Eddie Davis edavis2@earthlink.net
Dear Eddie,
I recently received a mail order catalogue that said if I could find an item in the catalogue that matched a picture on the special offer, I could have it free (with any order I made). I believe their goal was to get me to read through the whole catalogue. This is what I think the FHA is doing with this requirement.
H2
P.S. Several readers have suggested we publish the answers. I don't think we are going to do that!
119) Answers to FHA exam
08/12/07
Hello Henry,
As you noted, all the questions you listed in the article about the FHA exam in REV Magazine [www.revmag.com/summer2007/05.html] are in Appendix D of the FHA Handbook, 4150.2 except for Question 8 which deals with USPAP. That answer is located in the Ethics part of USPAP.
The question I am having major trouble with, however, is Question 5 which says: "To be eligible for FHA Title II Financing, list at least three criteria that a manufactured housing unit must meet." The only information I found is on page D-45 which says "Manufactured homes must be taxed as real estate to be eligible for Title II FHA insurance." I cannot find any other references for 2 other criteria.
Can you help?
John Mathias jmathias@bellsouth.net
Dear John,
I don't think it is a good idea for me to publish what I believe the correct answer should be. The purpose of the exam is to have you read the new Appendix D -Valuation Protocol. I can tell you that my copy of Appendix D 4150.2 gives the answer to Question 5 on page D-43.
H2
As you noted, all the questions you listed in the article about the FHA exam in REV Magazine [www.revmag.com/summer2007/05.html] are in Appendix D of the FHA Handbook, 4150.2 except for Question 8 which deals with USPAP. That answer is located in the Ethics part of USPAP.
The question I am having major trouble with, however, is Question 5 which says: "To be eligible for FHA Title II Financing, list at least three criteria that a manufactured housing unit must meet." The only information I found is on page D-45 which says "Manufactured homes must be taxed as real estate to be eligible for Title II FHA insurance." I cannot find any other references for 2 other criteria.
Can you help?
John Mathias jmathias@bellsouth.net
Dear John,
I don't think it is a good idea for me to publish what I believe the correct answer should be. The purpose of the exam is to have you read the new Appendix D -Valuation Protocol. I can tell you that my copy of Appendix D 4150.2 gives the answer to Question 5 on page D-43.
H2