HUD FHA property preservation guidelines for foreclosure inspection properties
The following is a brief overview of some of the guidelines and regulation requirements you will need to consider, one of the places you will preserve and protect properties securing FHA-insured mortgages in accordance with HUD requirements the mortgagee shall take reasonable action to protect and preserve such security property when it is determined HUD has established an overall maximum Claim Submission and Documentation
As you will become familiar with is the fact that documentation to support each claimed expense must be maintained in the Mortgagee’s case file and Conveyance of Damaged Properties, state and/or jurisdictional requirements related to city ordinances such as vacant/abandoned property registration or local law.
The fee associated with registration of a vacant/abandoned property is reimbursable and must be included on your claim. Documentation to support such a claim for registration fees must be included in the claim review file along a receipt for payment.Quality Control With all the latest news head lines all FHA approved Servicers are required to implement a written quality control plan covering all aspects of loan origination and servicing and to conduct regular quality assurance reviews in accordance with the plan.
A Servicer is required to provide a copy of its quality control plan as well as results of quality assurance reviews to HUD staff either during regularly scheduled servicing and post claim audit reviews or upon request.
Here is some information regarding the Complete FHA Streamlined Refinance Documentation,
Submission Underwriting Approval Worksheet
FHA to Provide Education Flyers
FHA Allows High Loan Limit Streamlined Refinances for 2009
Revised Policy for Annual FHA Renewal & Approval for Lenders
FHA Appraiser Roster: Revised Eligibility & Deadline Extended
FHA Secure Has Been Terminated
FHA Streamlined Refinances: Refi Worksheet and Quick Reference Guide Included
FHA Refinance & Streamline Transactions: Revised Maximum Mortgage Calculation
FHA Loans Acceptable Down Payment Sources
FHA/VA: DU for Government Loans Check Loan Amounts
FHA Property Flipping Allowed in 5 Midwestern States
FHA HOPE for Homeowners’ Program (H4H)
FHA Reverse Mortgages and New Origination Fee Limits
Now with a little research and use of material online you will have a business that will perform all work in accordance with HUD regulations, FHA & VA guidelines.
What companies are hiring field inspectors for Insurance Loss Inspection?
The reason for the inspections is to help ensure that hazard insurance claims funds for damaged properties are properly disbursed and appropriately utilized to repair and improve the subject property. This protects the value of the collateral as security. So some companies will contract out workers and send an inspector to a property to review and assess both the existing damages at a property and the percentage of repairs completed. With this information, it can be determine whether a requested release of additional or remaining repair funds is appropriate.
These are some companies that offer this service:
Safeguard Properties
National Risk Services, Inc
Accurate Inspection Services
RLD Associates, Inc
If you want to see if you can get a job doing this type of work you will want to email the companies and submit an application form online. Many of these jobs are not posted and you will want to check out forums and get a list of mortgage field service companies who do inspections.
Insurance Loss Inspection Jobs
Insurance Inspector – Part Time, for Safety Resources, Inc., a division of Overland Solutions, is a leading provider of loss control and safety inspection surveys to the insurance industry nationwide, duties include: you will work from an office in your home, and travel locally to the insureds’ sites. You will evaluate the insureds’ hazards and controls by interviewing, touring premises, measuring and calculating square footage, drawing diagrams, taking digital photos, and making recommendations for uncontrolled hazards, in order to determine whether or not companies should be issued, or be renewed, a policy. You will complete the reports on a company-issued laptop. Most assignments and support are provided online by one of the Safety Resources branch offices closest to your territory.