Safeguard Properties - VA Houston RLC Updated Bulletins 2007-3 and 2007-4

VA Houston RLC Updated Bulletins 2007-3 and 2007-4

Saturday, 17 February 2007

The Houston Regional Loan Center has released Bulletin Nos. 2007-03 and 2007-04.

Bulletin No. 2007-04 was released updating the reimbursable amounts for appraisals and revising the claim filing process for Arkansas, Louisiana, Oklahoma, and Texas.

Bulletin No. 2007-03 is an update to the Property Inspections and Preservation cost schedule and guidelines. The new cost allowables and guidelines go into effect on March 1, 2007

Included in Bulletin No. 2007-03:

Inspection fees did not change; $25 for the initial and $15 for subsequent visits.

Debris removal allowables increased from $25 per cubic yard to:

AR $35 per cyd, $420 maximum, and $113 for refrigerator removal
LA $50 per cyd, $600 maximum, and $82 for refrigerator removal
OK $35 per cyd, $420 maximum, and $100 for refrigerator removal
TX $45 per cyd, $540 maximum, and $75 for refrigerator removal

Boarding allowables changed from $35 per window opening to price per UI:

AR $0.85 per United Inch
LA $0.95 per United Inch
OK $0.85 per United Inch
TX $0.95 per United Inch

Lock change allowable increased from $45 to $60.

Roof allowables increased from $300 to $350.

Winterization seasons have been defined and the allowable changed from $55 to:

AR $45 maximum, Winterize between November 1st and March 31st
LA $55 maximum, Winterize between November 1st and March 31st
OK $70 maximum, Winterize between September 1st and April 30th
TX $70 maximum, Winterize between November 1st and March 31st

Grass Cut seasons have been defined and allowables are in place based on lot size:
Up to 10,000 sq ft           10,0001-15,000 sq ft
AR       $50/$30                      $75/$40
LA        $50/$30                     $75/$40
OK       $50/$30                      $75/$40
TX        $50/$30                      $75/$40

Swimming Pools - the allowable for securing in-ground swimming pools increased from $750 to $1050 and the directions to secure are more similar to HUD guidelines. There was no change regarding above-ground pools or hot tubs.

To view the Bulletins in their entirety, please click on the following links.

VA Houston RLC Updated Bulletins 2007-3

VA Houston RLC Updated Bulletins 2007-4

Maximum Allowable Attachment