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MEMO
#1030: 25-35 Day Vacant Inspections Timeframe - 2/17/03
If you
recall, August 2002 Web
Memo #5002 discussed the FHA Mortgagee Letter 2002-10
guideline titled General Inspection Requirements, which reads,
"The mortgagee must inspect a vacant or abandoned property
every 25-35 days to determine whether preservation or protection
services are required, or more frequently as prescribed in
the regional variations."
Failure
to complete property inspections within the required time
frame (either too early, meaning before the 25th day after
the previous inspection, or too late, meaning after the 35th
day after the previous inspection) can result in an assessment
against our clients for property damage. Equally important,
our clients are closely monitoring this 25-35 compliance time
frame.
To emphasize
the importance of the 25-35 day reporting time frame, we have
specifically identified these orders when sent to you as 25-35
day inspections with the due date range noted.
It is
your responsibility to assure that these inspections are performed
within the range of acceptable completion dates and to keep
our clients in guidelines compliance.
Should
you have any questions about these inspections, please contact
your regional Open Order Representative or vendor.management@safeguardproperties.com.
Thank
you for your cooperation.
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