Action Codes in the Systems Summary

Lender-facing reports open with a systems summary: one row per building system with its condition rating, an action code and the immediate, short-term and reserve totals attributed to it. The codes are a convention, not a requirement of the guide, and vary slightly by firm; a common set is IR (an immediate repair is carried), ST (short-term repair only), RR (replacement reserve within the evaluation period, no Table 1 cost), RM (routine maintenance only) and NA (not observed or not applicable).

The code is derived from the tables, in that order of precedence, so it cannot disagree with them. Its value is that an underwriter reads eleven rows and knows where the money is before reading a sentence of narrative. See condition ratings.

Related: executive summary, Table 1.