Ed in this Contractor Profile is complete and accurate. Signature: ____________________________________________________________________ Contractor Name: _______________________________________________________________ Title: ________________________________________________ Date: ____________________________________ Fannie Mae Form 1202 Nov 01 Instructions Contractor Profile Report Borrowers can use this document to gather information on contractors they are considering to do their planned reno.
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How to fill out the Fannie Mae 1202 online
The Fannie Mae 1202, also known as the Contractor Profile Report, is a crucial document for borrowers looking to gather relevant information about contractors for renovation projects. This guide will provide you with clear and supportive instructions on how to effectively fill out this form online.
Follow the steps to complete the Fannie Mae 1202 online.
- Click ‘Get Form’ button to obtain the form and open it in the editor.
- Begin by filling in the contractor information section. Enter the case number, date, borrower name, co-borrower name, contractor name, address, point of contact, and phone number in the designated fields.
- In the organization section, select the type of organization from the provided list: Corporation, Partnership, Limited Liability Company, Joint Venture, Individual, or Other. Specify the number of years the organization has been in business under its current name. Then, list the jurisdictions where the organization is legally licensed to operate, along with the tax ID number and license numbers.
- For the types of work and experience section, list the types of work the organization performs directly. Additionally, provide details on two projects completed within the last year, including names, locations, contact information, contract amounts, and completion dates.
- Indicate whether there are any judgments, claims, arbitration proceedings, or suits pending against the organization or its officers. If applicable, describe these in an attached document. Also, indicate if the organization has filed any lawsuits or requested arbitration regarding construction contracts in the last five years and provide further details if required.
- In the financial references section, enter information about banks, creditors, or bonding companies. Ensure to attach a copy of the most recent financial statement, preferably audited.
- For the insurance section, provide the name of the insurance company, type and amount of coverage, contact person, and their phone number.
- The contractor should then review the declaration statement ensuring all information is complete and accurate before signing. Fill in the contractor's name, title, and date to finalize the form.
- Finally, save the completed document. Users can download, print, or share the form as needed.
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To file a complaint against Fannie Mae, you can contact their customer service department directly or visit their official website for specific instructions. Document your concerns clearly to facilitate a thorough review of your issue. If you need further assistance, consider using resources available on the uslegalforms platform to guide you through the complaint process. Understanding the Fannie Mae 1202 can also help you articulate your concerns effectively.
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Improvements not qualifying for the HomeStyle renovation program are often those that do not enhance the property's value or functionality. For instance, luxury upgrades such as pools or outdoor kitchens may not meet the program's criteria. Homeowners seeking to utilize the Fannie Mae 1202 guidelines should focus on practical improvements that contribute to overall livability. Understanding these parameters ensures a smoother financing process within the HomeStyle program.
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