FHA Single Family Housing Policy Handbook 4000.1, II. ORIGINATION THROUGH POST-CLOSING/ENDORSEMENT > A. TITLE II INSURED HOUSING PROGRAMS FORWARD MORTGAGES > 9. 203(k) Consultant Requirements — g. Preparing the Work Write-Up and Cost Estimate
HUD effective date: 09/14/2015 · section II.A.9 · Handbook 4000.1
FHA Single Family Housing Policy Handbook 4000.1, Part II — g. Preparing the Work Write-Up and Cost Estimate (09/14/2015).
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Verbatim provisions from FHA Single Family Housing Policy Handbook 4000.1, II. ORIGINATION THROUGH POST-CLOSING/ENDORSEMENT > A. TITLE II INSURED HOUSING PROGRAMS FORWARD MORTGAGES > 9. 203(k) Consultant Requirements — g. Preparing the Work Write-Up and Cost Estimate — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
FHA Single Family Housing Policy Handbook 4000.1, Part II — g. Preparing the Work Write-Up and Cost Estimate (09/14/2015)
g. Preparing the Work Write-Up and Cost Estimate (09/14/2015) The Consultant must prepare a Work Write-Up that identifies each Work Item. The Work Write-Up must be prepared in a categorical manner that addresses each of the 35 point checklist items. The Consultant must indicate which Work Items require permits. The Consultant must also prepare a Cost Estimate for each Work Item in the Work Write-Up. The Cost Estimate must separately identify labor costs and itemize the cost of materials per Work Item. Work Item refers to a specific repair or improvement that will be performed. The Consultant must use Cost Estimates that are reasonable for the area in which the Property is located. Lump sum costs are permitted only in line items where a lump sum estimate is reasonable and customary. i. Conformance with Minimum Property Requirements or Minimum Property Standards The Work Write-Up must specifically identify whether the Work Item is required to meet MPS or MPR, will involve structural changes, or is a Borrower elective. ii. Health and Safety The Consultant must ensure that all health and safety concerns and any appraiser requirements are addressed in the Work Write-Up before the addition of any other Work Items.
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Source of record: https://claudeforcompliance.com/regs/hud-4000-1-ii-g-preparing-the-work-write-up-and-cost-estimate/
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