Altisource Vacant Sticker Placement
Please read below email we have received regarding Altisource FTV postings. These have been shipped out to you today and will need to be added to your inspections supplies immediately. Please contact me with any questions, Thanks! Until we receive the stickers, make copies from the Resources tab and apply as per instructions/attached. Tks Dwain
Good afternoon,
Soon you will receive stickers that we sent that must be placed on vacant properties for our Altisource client. In the package you will have the stickers, and also instructions (attached to this email as a .PDF) on how to place the stickers and when. This goes live on 11/30/15 as mentioned in the instructions that you received. Below is additional information on the new process. Please let me know if you have any questions.
New Occupancy Verification Process
Occupancy verification letters will no longer be mailed to occupant.
1. Labels are to be used during “Exterior Inspections” and “Contact Inspections.” (PFC)
· Inspection vendor carries the verification label for exterior inspections just as he carries the door hangers as a regular practice.
· If the property is confirmed “Occupied,” there is no change in the process – occupancy status to be reported as Occupied in the form.
· If the property is confirmed “Vacant,” the label is installed across the main door and frame as a seal and the occupancy status is reported as Vacant on the inspection form. Write the date on the label.
· If vacancy cannot be 100% verified, or is still questionable, the label is installed across the main door and frame as a seal and the occupancy status is reported as “Occupied” on the inspection form. Write the date on the label.
· Inspection form is updated to reflect installed label.
· The label should be installed on the door with dotted line creased at the corner of the door and frame. Or across both doors if double doors are present.
NOTE: This process change does not change existing rules regarding hanging door hangers at the property.
2. When the property receives an “Occupied” status and a label during the previous inspection:
· If the seal has not been broken between the door and the frame, and there are no signs of occupancy, the vendor is to classify the asset as “Vacant.”
· If the seal has been broken, the property will be reported as “Occupied.”
3. Subsequent inspection forms will populate with information based on previous inspection:
· “Was verification label installed during previous inspection?”
o Indicates if label installed during previous inspection.
o “Yes” indicates that the label was installed during previous inspection. (If label has been removed or broken, property should be considered “Occupied.”)
· “Date when verification label was installed in the past.”
o Vendors must allow a 90 day period before installing a subsequent label.
· “Have you installed the verification label across the door and frame to seal the door in current inspection?”
o Allows vendor to indicate if label was installed during current inspection.
4. The adhesive backing on the label is strong. Please avoid having to reposition once fixed to door.
· The label will be removed at the time the property is secured.
· In the event the adhesive causes damage to door, vendor will not be held responsible.
o Vendors should report any damage the label may cause to GIS immediately.
