Glossary |
Terms that are on use on this site.
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| There are 10 entries in the glossary. |
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| Date Range | A specific starting date before which the property can not be inspected and an ending date, after which the inspection can not be inspected.
Example: “Inspect between May 11 and May 28”.
Often required by FHA requirements |
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| Davis-Bacon and Related Acts | DBRA
The Davis Bacon and Related Acts (DBRA) requires all contractors and subcontractors performing work on federal or District of Columbia construction contracts or federally assisted contracts in excess of $2,000 to pay their laborers and mechanics not less than the prevailing wage rates and fringe benefits for corresponding classes of laborers and mechanics employed on similar projects in the area. The prevailing wage rates and fringe benefits are determined by the Secretary of Labor for inclusion in covered contracts. |
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| Debris Removal | A property preservation service in which the interior, exterior and hazardous debris are removed from a property. Specifications for the service will be dictated by the client or will follow the regulatory specifications for the loan type. If the service is for a loan type with no applicable regulatory specifications, the HUD specifications, and HUD reimbursable fee schedule, will be followed. If the debris, for any loan type, cannot be removed for the published reimbursable fee, a bid for removal is normally provided. |
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| Delinquency Interview | A type of inspection where contact with the occupant(s) is required and the field rep is to find the owner’s reason for late payments and any other financial information the lender may want. The interview is to be with the mortgagor only and not discussed with tenants, renters or spouse unless the spouse is also listed on the delinquency interview request. |
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| Desk Topping | The practice of filling out an inspection report while at the kitchen table without actually having been to the property. |
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| Direct Contact | The terminology used to identify a type of field service request giving instructions to speak with the individual indicated on the paperwork. The information to be gathered usually accompanies the field service request. |
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| Discount | The terminology used to identify a type of field service request giving instructions to speak with the individual indicated on the paperwork. The information to be gathered usually accompanies the field service request. |
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| Door Hangar | A stiff paper cut-out designed to hang on a door knob or a contact letter in an envelope.
Contains information reqesting the home owner to call their lender. |
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| Drive-By | An inspection type where there is no need to contact the occupant! Visual inspection to determine occupancy and condition. |
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| Due Date | The date the inspection report is due back to the company. |
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Glossary V2.0 |
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