Glossary |
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| There are 5 entries in the glossary. |
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| Wet Heat System | A wet heat system uses a boiler to create hot water or steam, which is circulated throughout the house and heats each room by a cast-iron radiator.
Wet heat systems were first used regularly in the 1880\'s, and were more common than furnaces until the 1920\'s. |
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| Window Inspection | Any type of inspection that has a range of dates in which the inspection must be performed. This range of dates is known as a \"window\".
An example would be \"inspect between 2-14-2005 and 3-01-2005\". Normally you can inspect the property and give your report any time during this window. However, some companies will not accept the report until the last day; in this case on 3-01-2005.
For your information, HUD requires the mortgagee (lender) to conduct a visual inspection of a property if a payment is not received withing forty-five (45) days of the due date and effforts to reach the mortgagor (homeowner) by phone or other means have been unsuccessful. Subsequent inspections must be performed 25-35 days following the prior inspection. |
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| Windshield Time | Time spent in the car going from job to job. |
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| Winterization Sticker | A printed notice to the public announcing that the plumbing system in the property has been winterized. This means the water should have been removed from all water lines, the water heater, toilet bowls and toilet closets and recreational vehicle anti-freeze has been introduced into the system in locations vulnerable to freezing.
Winterization stickers are normally adhesive backed, neon colored and applied to windows, doors, water tanks and plumbing fixtures. |
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| Winterization to Specification | Preparation o the plumbing
at the property, to prevent freeze damage, according to the regulatory
requirements for the loan type. If there are no applicable regulatory guidelines
for the loan type, the HUD guidelines, and pricing schedule are followed. If
the work cannot be completed for the applicable published price, an estimate
should be provided to complete the winterization. |
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