Comments on: Where, Exactly, is Your Subject Located?

By: Baggins

Baggins — Sat, 03 Mar 2018 01:13:16 +0000

In reply to Mike Ford, AGA, GAA, RAA, SCREA, Realtor®.

Keyword; Postal annex locations. It’s going to take a lot of time for the post office to keep up with legal, all that address data was supposed to be for the post office, not for sale to data aggregators. All those people who thought they lived in condos, sorry, you live in apartments now… It’s a tragic story.

By: Chris

Chris — Sun, 25 Feb 2018 15:30:20 +0000

Its all due to the post offices down sizing over the years.

By: Bill Johnson

Bill Johnson — Fri, 23 Feb 2018 23:51:36 +0000

Just had one today. There is technically no city of La Jolla CA (median value over one million), regardless of what locals say, the post office says, and the fact that it has its own zip code (92037). The area is in the city of San Diego (median value $625) but of course the provided Preliminary Title Report says something different, San Diego (area of La Jolla). Two hours of my day and four requests later, the issue (for them) is no clearer.

By: Mike Ford, AGA, GAA, RAA, SCREA, Realtor®

Mike Ford, AGA, GAA, RAA, SCREA, Realtor® — Fri, 23 Feb 2018 23:12:49 +0000

GREAT graphic AB!

Prior to UAD formats I never knew an appraiser to have difficulty in explaining what and where a property is located. Only title companies had problems based on how THEY showed prelims (and not consistently either).

Unincorporated County Areas all across America & Townships often have MAILING or POSTAL addresses that do not match local government agencies official situs addresses. Even after incorporation some areas retain the old postal zone for status purposes.

Look up Beverly Hills 90210 on Thomas Guide page 592. Part City of B.H. and part City of L.A.. Guess which city residents want on their mail (and appraisal)?

Just a reminder, USPAP does NOT REQUIRE a physical street address in a report. It DOES require an accurate legal description.

It is only FNMA (& similar GSEs); title insurance companies and FNMA-designed UAD-driven software that have conniption fits over mailing/situs addresses.
1. UAD requires it match USPS addresses/records.
2. Title insurance officers or their reviewers want the report address to match the prelim…usually without regard to what is actually correct. Their approach to this is universally arrogant (& frequently ignorant). Only THEY can possible know correct addresses.
3. UAD software hiccups if USPS address isn’t used. Who knows what the impact is on Chucky Upchuck V4.2.

Whatever situs you show, just explain it folks, & worry more about getting legal description correct.

PS – it might lend credibility to your H&BU conclusions if you also check the actual zoning maps instead of putting down CoreLogic “public records” zones that could be 70 years out of date.

By: Wayne J Valliere

Wayne J Valliere — Fri, 23 Feb 2018 19:40:17 +0000

“Street addresses and ZIP Codes are assigned by the United States Postal Service”.
Where I work the street addresses are assigned by the Town or City Engineering Dept. The use of zip coding has caused a lot of confusion. In Southeastern/Cape Cod MA many zip codes denote a village that is part of a Town or City. Some Towns/Cities have many different villages with some over lapping with zip codes. Another good idea brought to you by your friendly federal government.

By: Koma

Koma — Fri, 23 Feb 2018 17:20:37 +0000

In reply to Rick Henry on Facebook.

Not unusual in my areas too. Just note the fact in the report, but still get calls cause they don’t read the report. Have one area where the city recently annexed part of an adjoining town and the Post Master will not make the change.

By: Baggins

Baggins — Fri, 23 Feb 2018 17:20:21 +0000

Sure that was the appraiser himself and not the typing or data service? Annoying details which are likely indicators of outsourcing essential duties.

By: Charles Thomas

Charles Thomas — Fri, 23 Feb 2018 15:21:38 +0000

In our area the subject may well be in a rural adjoining area, maybe even across the line in another county, but the mailing city and zip, where the nearest postal office is located, is out of a nearby city/county. The various descriptions for that particular, usually rural marketing area, of course is different than the zip code you are “looking up”. I have been more and more getting “reviewed” by “lower level or even forensic reviewers” who often are not geographically competent (often not competent at all), trained or much less LICENSED. Even to the point of being “reviewed” by a party not even within the U.S. That has to stop. You must be geographically competent to review another, particularly if you are carpeting an appraiser for something that would cause loss of business or license.
Typically the Lender/Client requires the mailing address, not the physical address, to be able to mail out “notices”. If it is different, say a PO Box , then I annotate that bottom of page one.

By: Rick Henry on Facebook

Rick Henry on Facebook — Fri, 23 Feb 2018 15:13:54 +0000

Not unusual in our area. For example, the property is in the City of Fort Worth but has a Haslet zip code. Order comes in with Haslet. In the report I discuss that the property is situated in Fort Worth and pays Fort Worth city taxes but is serviced by the Haslet Post Office. Some lenders can not seem to wrap their head around this.