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MEMO
#1018: Post-Sale Grass Cuts - 10/30/02
As you
know, the new guidelines outlined in ML 2002-10 and ML 2002-19
require additional documentation regarding property condition
and emphasize the need for properties to be conveyed in a
timely manner.
For this
reason, it is imperative that we are able to provide our clients
at any time with complete and current information regarding
whether a property is in convey condition.
To facilitate
accurate and timely reporting of this information, we are
instituting a requirement that each FHA post-sale grass cut
order include a property condition check and a statement
advising whether the property is in convey condition.
The convey-condition and property condition status must be
reported on all grass cut updates.
This new
requirement is primarily necessitated by the new ML 2002-10
guideline requiring that a final grass cut be completed within
the two-week period before conveyance (if conveyance occurs
during the grass cut season).
We appreciate
your continued cooperation as we adjust matters of procedure
to accommodate the new FHA guidelines.
If you
have any questions regarding this or any other new guidelines
issue, please contact Customer Service or your Regional Coordinator.
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