Note:
The Property Flipping section is only displayed if a HUD property flipping rule
applies to the case.
| Field |
Description |
| FHA
Case Number |
Unique 10-digit identifier
assigned to the mortgage by the Federal Housing Administration (FHA).
The first two positions identify the state in which the property is located,
the third position identifies the HUD Field Office territory in which the
property is located, the next six positions identify the serial number,
and the final position is the check digit. Note: If a second appraisal is required, the following statements appear below
the case number: First/Second Appraisal, First/Second Appraisal Data
Used for Case Processing. |
|
Return to top
|
| Property Information |
Address
-or-
CHUMS Address |
House number, street name, city, state, and zip code of the property (including
unit number, if applicable).Address on record in HUD's Computerized Homes Underwriting System (CHUMS).Note: For proposed construction or property under construction, lot, block, and
plat numbers may identify the property instead of a house number and street name. |
EAD Address |
Address in the electronic appraisal report submitted via the Electronic Appraisal Delivery (EAD) portal. Note: This field is only initially displayed for electronic appraisal reports submitted via the EAD portal on or after April 6, 2015. |
| EAD Condo Unit |
Number of the condominium unit submitted via the EAD portal. Note: If a unit number was not provided by EAD, the field is blank. |
| FHA Catalyst Address |
Address in the electronic appraisal report submitted via the FHA Catalyst portal. |
| FHA Catalyst Condo Unit |
Number of the condominium unit submitted via the FHA Catalyst portal. Note: If a unit number was not provided by FHA Catalyst, the field is blank. |
| I certify that property addresses match |
Certification that the EAD Address or FHA Catalyst Address closely matches the existing Address for the property in CHUMS. Note: This field appears when there is a discrepancy between the two addresses. |
| PUD |
Planned Unit Development (PUD) indicator. Source: Appraisal
Report, Subject section, PUD. |
| Construction
Code |
Building status, including:
| Proposed Construction: Property where no concrete or permanent material has been placed. (Digging of footing is not considered permanent.) |
| Substantial Rehabilitation: Property is being repaired and mortgage is being insured under Section 203(k). |
| Under Construction: Construction period from the first placement of permanent material to 100 percent completion with no Certificate of Occupancy or equivalent. |
| Existing Construction: Construction is 100% complete and the building is habitable. Note: For a forward mortgage case (non-HECM case), this is used for an existing building more than one year old. |
| New Construction (Less than 1 Year): Property that is 100 percent complete and was completed less than one year from the date of the issuance of the Certificate of Occupancy or equivalent. The property was never occupied. |
|
| Year
Built |
Date the
existing construction (building) was completed. For cases with a Construction Code of Proposed Construction or Under Construction assigned an FHA case number after April 11, 2015, this is the year of the Effective Date of the Appraisal or the year after the Effective Date of the Appraisal, if an appraisal was logged. If an appraisal was not logged, this is the year the case number was assigned or one year after case number assignment. Source: Appraisal
Report, Sales Comparison Approach section, Actual Age. |
| Effective
Age |
Effective age of the improvements;
condition of the property relative to similar competitive properties. Note: This
field may be blank for cases with an Appraisal Logged
Date earlier than July 16, 2005. Source: Appraisal
Report, Improvements section, Effective Age (Yrs). |
| Appraisal
Received Date |
Month, day, and
year (mm/dd/yy) the Appraisal
Report was received by the lender. |
| Date
of Contract |
Month, day, and year (mm/dd/yy)
the property was sold.Source: Appraisal
Report, Contract section, Date of Contract. (Only applicable to a purchase
case, including a HECM purchase.) |
| Contract
Price |
Contract sales price of the
property. Source: Appraisal
Report, Contract section, Contract Price. (Only applicable to a purchase case,
including a HECM purchase.) |
| Borrower Paid Appraiser Required Repairs |
Cost of repairs required by the appraiser to meet HUD’s Minimum Property Requirements (MPR) that are paid for by the borrower. This is only applicable to a purchase case and the repair costs may be added to the sales price before calculating the maximum mortgage amount, if required conditions are met. Sources: Appraisal
Report and sales contract or addendum. |
|
Return to top
|
|
| Location |
Type
of area surrounding the property. Source: Appraisal
Report, Neighborhood section, Neighborhood Characteristics, Location. |
| Predominant Neighborhood Price |
Average price for a dwelling
within the neighborhood. Source: Appraisal
Report, Neighborhood section, Pred. |
| %
Land Use |
Estimate of the type of land usage in the neighborhood.
| One-Unit:
Percentage of neighborhood dwellings designed to house only one family. |
| 2-4 Unit:
Percentage of neighborhood dwellings containing two to four separate and complete
living units designed to house from two to four families. | | Multi-Family:
Percentage of neighborhood dwellings containing more than four separate and complete
living units designed to house more than four families (multifamily). |
| Commercial:
Percentage of neighborhood dwellings intended for commercial use such as retail
and wholesale stores, offices, restaurants, and hotels. | Source: Appraisal
Report, Neighborhood section, Present Land Use %. |
|
Return to top
|
|
| Site Area |
Size of the property. | Sq
Ft: Square footage of the property. | | Acres:
Total property acreage. | Source: Appraisal
Report, Site section, Area. |
| Type |
Classification of the structure of the dwelling.
Source: Appraisal
Report, Improvements section, General Description, Type
. |
| Manufactured
Housing |
Indicator for specifying whether the dwelling is a manufactured home. Source: Appraisal
Report. |
|
Return to top
|
Physical Characteristic
Fields |
| Foundation |
Property's primary type of foundation. Source: Appraisal
Report, Improvements section, Foundation. |
| Rooms |
Total number of rooms above grade in the dwelling. Source: Appraisal
Report as follows:
| • |
One Unit and Manufactured: Improvements section, Finished area above grade contains,
Rooms |
| • |
Condominium:
Unit Description section, Finished area above grade contains, Rooms |
| • |
Two
to Four Units: Improvements section, Unit # contains, Rooms (total for all units) |
|
| Bedrooms |
Total number of bedrooms above grade in the dwelling. Source: Appraisal
Report as follows:
| • |
One Unit and Manufactured: Improvements section, Finished area above grade contains,
Bedrooms |
| • |
Condominium:
Unit Description section, Finished area above grade contains, Bedrooms |
| • |
Two
to Four Units: Improvements section, Unit # contains, Bedroom(s) (total for all
units) |
|
| Baths |
Total number of bathrooms above grade in the dwelling and any full bathrooms below grade. Source: Appraisal
Report as follows:
| • |
One Unit and Manufactured: Improvements section, Finished area above grade contains,
Bath(s) |
| • |
Condominium:
Unit Description section, Finished area above grade contains, Bath(s) |
| • |
Two
to Four Units: Improvements section, Unit # contains, Bath(s) (total for all units) |
|
| Living Area |
Total square footage of the living
area above grade. Source: Appraisal
Report as follows:
| • |
One Unit and Manufactured: Improvements section, Finished area above grade contains,
Square Feet of Gross Living Area Above Grade |
| • |
Condominium:
Unit Description section, Finished area above grade contains, Square Feet of Gross
Living Area Above Grade |
| • |
Two
to Four Units: Improvements section, Unit # contains, Square Feet of Gross Living
Area Above Grade (total for all units) |
|
| Central
Air |
Indicator for specifying whether
the dwelling has central air conditioning. Source: Appraisal
Report, Improvements section, Cooling, Central Air Conditioning (condominium:
Unit Description section, Central AC). |
| Car
Storage |
Type of parking facility. Source: Appraisal
Report, Improvements section, Car Storage (condominium
: Unit Description section,
Car Storage). |
| Return to top |
Cooperative Fields
(Only applicable to a HECM case with a cooperative unit) |
| Total Cooperative Units in Project |
Total number of units in the cooperative housing project. Source: Appraisal
Report, Project Description section. |
| Pro Rata Amount of Blanket Mortgage |
Cooperative unit's share of the blanket mortgage for the cooperative housing project in which it is located. Source: Appraisal
Report, Cooperative Project Information section. |
| Unencumbered Value |
System-generated value of the cooperative unit less any encumbrances; specifically, Appraised Value minus Pro-rata Amount of Blanket Mortgage. |
| Property Title Information |
Estate Will be Held in
-or-
Property Title Held as [HECM only] |
Indicator specifying how the property rights are held. Sources: Appraisal
Report, Subject section, Property Rights Appraised, URLA, section II.
Property Information and Purpose of Loan, Fannie Mae form 1009, section II. Primary Residence Property Information, or form HUD-92900-LT, Property Rights.
|
| Leasehold Expiration Date |
Date of the expiration of the lease for property held by lease. Sources: URLA, section II.
Property Information and Purpose of Loan or Fannie Mae form 1009, section II. Primary Residence Property Information. |
| Return to top |
| Prior Sale Information |
| Was prior sale of this property
within the past 3 years? |
Indicator
specifying whether the property was sold within the last three years.
|
Prior Sale/Transfer within 3 yrs: The property was sold or title to the property was transferred within three years of the prior sale of the property. | | Foreclosure within 3 yrs: The property was resold within three years and was acquired due to loan foreclosure. | | No Sale/Transfer within 3 yrs: The property was not sold or title to the property was not transferred within three years of the prior sale of the property. | Source: Appraisal
Report, Sales Comparison Approach section, My research did/did not reveal
any prior sales or transfers of the subject property for the three years prior
to the effective date of this appraisal. |
| Date of Prior Sale/Transfer |
Month,
day, and year (mm/dd/yy) the property was previously sold or transferred. Source: Appraisal
Report, Sales Comparison Approach section, Date of Prior Sale/Transfer Date,
Subject. |
| Price of
Prior Sale/Transfer |
Contract
sales price at which the property was previously sold or transferred. Source: Appraisal
Report, Sales Comparison Approach section, Price of Prior Sale/Transfer, Subject. |
| For refinance transactions only where property was acquired within the last 12 months: |
| Was prior sale/transfer a result of family gift or inheritance? |
For a refinance case, this is an indicator specifying:
| Yes: Borrower acquired the property through a family gift or inheritance within 12 months of the Date of Prior Sale/Transfer. |
| No: Borrower acquired the property within 12 months of the Date of Prior Sale/Transfer, but not through a family gift or inheritance. |
| N/A: Not applicable; case is a purchase mortgage or property was not acquired within 12 months of the Date of Prior Sale/Transfer. |
|
| Cost of Improvements made subsequent to Prior Sale |
If the property was acquired within 12 months of the Date of Prior Sale/Transfer but not through a family gift or inheritance, this is the documented cost of improvements made subsequent to the last transaction for the subject property. |
| Return
to top |
| Reconciliation Fields |
| Appraisal Type |
Classification of the appraisal.
| • |
As-Is: Estimate of the market value of real property in its current physical condition, use, and zoning as of the appraisal date. |
| • |
Subject to: Appraised value of the property subject to completion, repairs and improvements, and/or plans and specifications. |
Source: Appraisal
Report, Reconciliation section. |
| Appraised Value |
Appraiser's estimate of the market value of the property. See Handbook 4000.1 for additional information on products, programs, or for details on which value is used when a second appraisal is present (e.g., 203(k), Flipping). Note: This field is auto-filled once the electronic appraisal has been uploaded through the Electronic Appraisal Delivery (EAD) or FHA Catalyst portal. Source: Appraisal
Report, Reconciliation section. |
| Actual
Appraiser (State Certification or License No.) ID |
ID
of the FHA-approved appraiser who performed the appraisal; state license or certification
number preceded by the two-character state code. Source: Appraisal
Report, Appraiser's Certification, Appraiser, State Certification #, State
License #, or Other. |
| Actual
Appraiser (State Certification or License No.) Name |
Last
name, first name and middle initial of the appraiser who performed the appraisal
(view only; system generated). Note: If multiple appraisers were issued the same
state license or certification number, a drop-down list with the names of the
appraisers is provided for selection The license type is displayed in parenthesis
next to the listed name (CG for Certified General, CR for Certified Residential,
and LI for Licensed). Source: Appraisal
Report, Appraiser's Certification, Appraiser, Name. |
| Effective
Date of Appraisal |
Month, day, and year (mm/dd/yy) the property was appraised. Appraisal is valid
up to a specific number of days after this date, depending on the type of case. Note: An appraisal is valid for up to one year if an extension (Appraisal Update) is processed and the FHA case number was assigned on or after December 2021 (or 120 days if an extension (Appraisal Update) was processed and the FHA case number was assigned before December 2021). Source: Appraisal
Report, Reconciliation section, Based on a complete visual inspection ...
as of ..., which is the date of inspection and the effective date of this appraisal. |
| CRA Estimate |
For a Home Equity Conversion Mortgage (HECM) case, this is the Automated Valuation Model value provided by the Loan Application Management System (LAMS); collateral risk assessment (CRA) estimate. Note: This field is only displayed for HUD personnel. |
| Return
to top |
| HECM Information |
| Maximum Claim Amount |
The lesser of:
| • |
appraised value, |
| • |
maximum mortgage allowed by FHA under Sec. 305(a)(2) for a single family home in the area, or |
| • |
the sales price of the property being purchased for the sole purpose of being the principal residence. |
Initial (upfront) mortgage insurance premium is based on this amount. |
| Initial Principal Limit (IPL) |
Maximum amount, established at loan closing, the borrower may receive from the HECM before any disbursements are made. Maximum Claim Amount multiplied by the principal limit factor corresponding to the age of the youngest
borrower and expected average mortgage interest rate. |
| Initial MIP Factor |
Percentage used for calculating the initial (upfront) mortgage insurance premium (MIP).
For mortgages assigned an FHA case number on or after October 2, 2017, the current rate is displayed and is view only. For mortgages assigned a case number before October 2, 2017, one of the following rates is selected:
| • |
0.5%; <= 60% IPL: Maximum Claim Amount multiplied by 0.5% if the sum of Mandatory Obligations (Does not include cash), Taxes/Insurance 1st Yr Payments, Additional 10% of IPL Usage Amount, and Repair Set Aside Amount is less than or equal to 60% of the Initial Principal Limit (IPL). |
| • |
2.5%; > 60% IPL: Maximum Claim Amount multiplied by 2.5% if the sum of Mandatory Obligations (Does not include cash), Taxes/Insurance 1st Yr Payments, Additional 10% of IPL Usage Amount, and Repair Set Aside Amount is greater than 60% of the Initial Principal Limit (IPL). |
|
Initial Disbursement Limit
|
Maximum amount that may be disbursed to the borrower and/or used for Mandatory Obligations, set asides, and other charges incurred with originating the HECM at:
| • |
loan closing and/or during the first 12-month disbursement period after loan closing (begins on day of loan closing and ends on the day before the anniversary date of loan closing), or |
| • |
loan closing only for the Lump Sum Disbursement Payment Plan. |
For mortgages assigned an FHA case number on or after September 19, 2017, this is the lesser of A or B below:
| A. |
The greater of 60% of the Initial Principal Limit (IPL) or the sum of Mandatory Obligations (Does not include cash) and Additional 10% of IPL Usage Amount available during the first 12-month disbursement period, not to exceed 100% of the Initial Principal Limit (IPL). |
| B. |
Initial Principal Limit (IPL) amount less the sum of the Net LESA and Servicing Fee Set Aside, not to exceed 100% of the Initial Principal Limit (IPL). |
For mortgages assigned an FHA case number before September 19, 2017, this is the greater of 60% of the Initial Principal Limit (IPL) or the sum of Mandatory Obligations (Does not include cash) and Additional 10% of IPL Usage Amount available during the first 12-month disbursement period, not to exceed 100% of the Initial Principal Limit (IPL).
|
| Mandatory Obligations (Does not include cash) |
Financed fees and charges incurred in connection with the origination of the mortgage that are paid at loan closing (e.g., initial (upfront) mortgage insurance premium, loan origination fee, HECM counseling fee, first year disbursements from life expectancy set aside for payment of property taxes and hazard/flood insurance bills, etc.). Note: The sum of financed mandatory obligations cannot exceed the available principal limit. Sources: Home Equity Conversion Loan Agreement, Exhibit 1 - Payment Plan, Exhibit 2 - Schedule Closing of Costs/Schedule of Liens, and Exhibit 3 - Repair Rider, Settlement Statement/Closing Disclosure, and Credit Report. |
| Mandatory Obligations Cash from Borrower |
Amount of "cash" the borrower is required to bring to loan closing to satisfy the difference between the Initial Principal Limit amount and the amount of mandatory obligations. Sources: Home Equity Conversion Loan Agreement, Exhibit 1 - Payment Plan and Exhibit 2 - Schedule Closing of Costs/Schedule of Liens, and Settlement Statement/Closing Disclosure. |
| Mandatory Obligations Cash from Lender |
Amount of "cash" the lender will contribute towards the borrower’s mandatory obligations, as documented in the Good Faith Estimate and Settlement Statement/Closing Disclosure. Note: Applicable for traditional and refinance HECM transactions only. Sources: Home Equity Conversion Loan Agreement, Exhibit 1 - Payment Plan and Exhibit 2 - Schedule Closing of Costs/Schedule of Liens, and Settlement Statement/Closing Disclosure. |
| Taxes/Insurance 1st Yr Payments |
Amount of HECM proceeds, or funds from a property charge set aside, used to pay property taxes and hazard and flood insurance bills. This amount reflects scheduled payments from the property charge set aside or from HECM proceeds that are paid within the first 12-month disbursement period. Note: This is the sum of the actual insurance premium and tax amounts. If a new tax bill has not been issued, the prior year’s amount multiplied by 1.2 is used. |
| Repair Set Aside |
Indicator specifying whether there is a repair set aside (i.e., Loan Agreement has a Repair Rider). |
| Repair Set Aside Amount |
Cost of repairs, plus the repair administration fee, if repairs are required to be completed after loan closing and during the first 12-month disbursement period. Amount held in escrow to complete repairs or improvements to the property. |
| Net LESA |
Fully or partially funded Life Expectancy Set Aside (LESA) minus Taxes/Insurance 1st Yr Payments. Sources: HECM Financial Assessment and Property Charge Guide and HECM Financial Assessment Worksheet. |
| Servicing Fee Set Aside |
Funds used for the payment of the monthly servicing fee that increases each month at a rate equal to one-twelfth of the sum of the expected average mortgage interest rate (Expected rate), plus the annual mortgage insurance premium rate from the date the loan is funded. Source: Mortgagee Letter 2016-10. |
| Additional 10% of IPL Usage |
Indicator specifying whether the borrower intends to take an
additional amount of up to 10% of the Initial
Principal Limit (IPL) at loan closing and/or
during the first 12-month disbursement period after loan closing. |
| Additional 10% of IPL Usage Amount |
An additional amount, up to 10% of the Initial Principal Limit (IPL), borrower intends to take at loan closing and/or during the first 12-month disbursement period after loan closing. |
| Return
to top |
| User
Certification |
| Certify Effective
Date |
Certification that the reason the Effective
Date of Appraisal precedes the date the FHA case number was assigned to
the mortgage is due to a change in the mortgage from conventional financing, HUD
Real Estate Owned (REO), or government guaranteed to FHA insured, or the previous FHA case number was canceled. Note: Documentation
substantiating the conversion of the mortgage to FHA insured must be retained
in the case binder. |
|
Presidentially Declared Major Disaster Area
|
| Does this property fall in a presidentially declared major disaster area? |
Indicator specifying whether the property is located in a presidentially declared major disaster area. |
| Did this property sustain damage? |
Indicator specifying whether the property sustained damage as a result of the disaster. |
| Amount of Damage |
Indicator specifying whether the amount of damage is $5,000 or more, or less than $5,000. |
| Appraisal
Update |
| Appraiser (State Certification
or License No.) ID |
ID of the FHA-approved appraiser
who performed an evaluation of the property; state license or certification number
preceded by the two-character state code. Source:Appraisal
Update and/or Completion Report, Fannie Mae Form 1004D, Freddie Mac Form 422,
Signatures, State Certification #. |
| Appraiser (State Certification or License No.) Name |
Last
name, first name and middle initial of the appraiser who performed an evaluation
of the property (view only; system generated). |
| Effective
Date of Appraisal Update |
Effective date of the
Appraisal Update and/or Completion Report. Source: Appraisal
Update and/or Completion Report, Fannie Mae Form 1004D, Freddie Mac Form 422,
Signatures, Effective Date of Appraisal Update. |
| Certify
subject property did not decline in value |
Certification
that the value of the property did not decrease since the original Effective
Date of the Appraisal displayed in the Reconciliation Fields section. Source: Appraisal
Update and/or Completion Report, Fannie Mae Form 1004D, Freddie Mac Form 422,
Summary Appraisal Report Update, Has the Market Value of the Subject Property
Declined ... |
| Second
Appraisal |
| Exempt
from Second Appraisal [Cash-out Refinance] |
Indicator
specifying whether the cash-out refinance case with an LTV ratio greater than
85% is exempt from a second appraisal. Note: Applicable to cash-out refinance
mortgages assigned an FHA case number before December 7, 2009. |
| Second
Appraisal Reason |
Indicator specifying
the reason
a second appraisal was performed. |
|
Return to top
|
| Property Flipping |
Property
May Be subject to 90-Day Flipping Rule
or
Property May Be Subject to Greater Than 90-Day Flipping Rule |
Message specifying
the HUD property flipping rule that applies to the case. |
| Exempt from Property Flipping Time Restriction: [Real Estate Owned (REO), Proposed Construction, Under Construction, or Construction to Permanent] |
Message specifying the property is automaticlly exempt from the property flipping rule or the property flipping rule does not apply. |
Flipping Exemption/Applicability Reason
|
Reason the case is exempt from the property flipping rule or property flipping rule does not apply.
| None: Property is subject to property flipping rule. |
| Property acquired by an employer or relocation agency: Sale of property purchased by an employer or relocation agency in connection with the relocation of an employee. |
| Sale by other U.S. Government agencies: Sale by another agency of the United States Government (other than HUD) of a Real Estate Owned (REO) single family property pursuant to programs operated by the agency. |
| Sale by HUD-approved Nonprofit: Sale of property by a nonprofit organization approved to purchase HUD REO single family properties at a discount with resale restrictions. |
| Property acquired by the seller through inheritance: Property was acquired by the seller through inheritance. |
| Sale by federally-chartered institutions and GSEs: Sale of property by a state- or federally-chartered financial institution or government-sponsored enterprise (GSE). |
| Sale by local/state government agencies: Sale of property by a local or state government agency. |
| Sale in Presidentially-Declared Major Disaster Area: Sale of property in a presidentially-declared major disaster area. |
| Partial title transfer(s) exempt - see binder: Title transfer transaction where one original borrower is retained on the title. A copy of the exempt title transfer or other supporting documentation is in the case binder. |
| Multiple exempt transfers - see binder: Multiple exempt title transfer transactions. A copy of the exempt title transfer or other supporting documentation is in the case binder. |
| Initial builder sale - N/A: Property flipping rule is not applicable for a new construction home that was never occupied. |
|
| -OR- |
|
| Property Flipping Waived (obsolete) |
Indicator specifying
whether the property flipping rule is waived for the case. Note: Only applicable
to the 90-day property flipping rule |
| Exempt
from Second Appraisal [Property Flipping] (obsolete) |
Indicator
specifying whether the case is exempt from a second appraisal for the 91-180 day
property flipping rule. |
| Use First Appraisal for Case Processing |
Indicator
specifying the first appraisal is to be used for case processing when a second
appraisal is required and the two appraisals are close in value. This overrides
the system's automatic appraisal selection. Note: The Appraised
Value of the selected appraisal cannot be more than five percent greater
than the alternate appraisal. |
| Use
Second Appraisal for Case Processing |
Indicator
specifying the second appraisal is to be used for case processing when a second
appraisal is required and the two appraisals are close in value. This overrides
the system's automatic appraisal selection. Note: The Appraised
Value of the selected appraisal cannot be more than five percent greater
than the alternate appraisal. |
| Appraisal Transfer |
| Appraisal Transfer |
Indicator specifying whether the appraisal was transferred to the new lender at the time the case was transferred. |