LESSON 1: WHAT DOES A FIELD INSPECTOR DO? Flashcards
Why are field inspectors needed?
When a mortgage loan becomes delinquent the bank or mortgage company is required to send someone to the property to take photos and determine if the property is occupied or vacant and determine the general condition of the property.
There may be other reasons a bank would order a property inspection as well.
Mortgage Field Service inspectors never ask or inquire of the homeowner about the financial status of the loan.
Mortgage Field Service inspectors never collect or insist on payments be made.
Reasons for delinquency are not the responsibility of the Mortgage Field Service inspector.
Leaving a letter in a sealed envelope at the door for the homeowner to call the mortgage company may be required.
Some inspections are ordered simply to check for damages in a declared natural disaster area.
Exterior property inspections are requested by the bank or mortgage company to determine:
The occupancy status
The condition of the property
If there is any deterioration or vandalism
If the property has been abandoned
If the property is listed for sale
A person can learn most of what they need to know simply by reading the instructions on each work order.
Because there are so many different companies, there are also many different requirements at each inspection.
The instructions of a work order will let you know what photos they want, what to leave at the door (if anything), and any number of other expectations as part of the inspection.
Two things that are very important.
If you live in one of the states that our four vendors service, you will see their applications and or contract agreement, along with the ability to apply for the keys of your state and submit your background check. (NMFS) This vital information is only available in lesson 11. You must take and pass all other lessons to get there. Don’t miss out on lesson 11. That is where you go to fill out applications and get hired.
Many folks click on the contract agreement, keys and background check without answering the one question in lesson 11. You must answer the questions on all 11 lessons in order to see the download button to print your certificate.
Property Inspectors collect delinquent payments from the homeowner.
True
False
False
The main purpose of a property inspection is to determine the occupancy and the condition of the home.
True
False
True
There may be other reasons besides a delinquent loan to inspect a property.
True
False
True
