SIRVA Mortgage Order Instructions
|
|
- Theresa Blanche Richard
- 5 years ago
- Views:
Transcription
1 SIRVA Mortgage Order Instructions Appraiser Trainees: This client does not permit Trainees to sign the appraisal report, however USPAP requirements apply when significant assistance has been provided by others Subject Section: The subject street address, city, state, and zip must be USPS Publication 28 compliant in accordance with UAD requirements. If the order information or physical address has conflicting information, include in addendum, and provide commentary. USPS address formatting and verification can be obtained at: The borrower name must match the order information. If this appraisal is for a purchase, then borrower and owner of public record name(s) must match purchase contract. Lender s name and address must appear on the appraisal report as identified in the Order Information section above. Please explain all Special Assessments. If the subject is a PUD, as defined by FNMA, the PUD section on page 3 should be completed as required. Please analyze the fully executed purchase contract, and all amendments prior to report submission. Include a comment stating the total number of pages in the analyzed purchase contract, as well as who provided the document. Do not submit the completed report prior to the review of the purchase contract. If you do not have a copy of the purchase contract, notify your Dwellworks contact. Neighborhood Description: If neighborhood is < 25% built up, the Appraiser must provide detailed commentary on current land use and growth rate In cases of declining, oversupplied markets, or > 6-month marketing times, the Appraiser must provide at least one additional comparable of a closed sale, active listing, or pending sale If the subject's appraised value differs significantly from the predominant housing price, provide detailed commentary on the effect this would have on marketability. If there is no impact, please indicate as well The neighborhood boundaries should be consistent with the location map, comparable selection and UAD guidelines Comparables from outside the defined neighborhood must be thoroughly explained. Any negative market conditions must be thoroughly explained, and any adverse effect on marketability must be addressed Absorption rate, inventory level information on page 2, and the 1004MC should be consistent with Housing Trends identified. If these are not consistent, provide commentary on any discrepancies If multiple parcels are indicated, follow current FNMA guidelines In declining markets, provide the reasons for the decline, the decline rate, and the data source Other Land Use must be explained, regardless of percentage.
2 Zoning/Site: FNMA guidelines should be followed The appraisal must include the actual size of the site and not a hypothetical portion of the site for the subject property If the property is zoned legal non-conforming (grandfathered use), the Appraiser is required to comment on whether the property can be rebuilt to its original footprint if damaged or destroyed, and provide verification source Any adverse effects that the non-conforming use has on the value and marketability must be reflected in the report If illegal zoning is discovered, OR if the subject s highest and best use is other than its current use, stop and contact Dwellworks. Be prepared to discuss specific zoning classification(s) and uses If the subject is in a flood zone, then like comparables are recommended. If none are available, the Appraiser must provide detailed commentary explaining any impact on marketability If the property is subject to certain land-use regulations, such as coastal tideland or wetland laws, that create setback lines or other provisions that prevent the reconstruction or maintenance of the property improvements if they are damaged or destroyed, please stop, and contact Dwellworks The appraiser must consider the present or anticipated use of any adjoining property that may adversely affect the value or marketability of the subject property In accordance with USPAP, appraiser must summarize Highest and Best Use, including support and rationale for the opinion Utilities: The Appraiser must address if the utilities of the property meet community standards. If public sewer and/or water facilities, those that are supplied and regulated by the local government, are not available, community or private well and septic facilities must be available and utilized by the subject property. The owners of the subject property must have the right to access those facilities, which must be viable on an ongoing basis. Private well or septic facilities must be located on the subject site, unless the subject property has the right to access off-site private facilities and there is an adequate, legally binding agreement for access and maintenance. If there is market resistance to an area because of environmental hazards or any other conditions that affect well, septic, or public water facilities, the appraisal must address the effect of the hazards on the value and marketability of the subject property. Appraiser must provide commentary in the appraisal report as to whether the utilities were on and functioning at the time of inspection. Improvements: If there is market resistance to a property because its improvements are not compatible with the neighborhood (age, type, design, and construction materials) or with the requirements of the competitive market because of adequacy of plumbing, heating, or electrical services; design, quality; size; condition; or any other reason directly related to market demand, the appraiser must address the impact to the value and marketability of the subject property. Only above-grade areas can be included in the calculation of the gross living area for a one-unit property or a unit in a condominium or PUD project. Basements and other partially below-grade
3 areas must be considered separately and the appraisal adjusted accordingly. If this is not the case, the reasons should be thoroughly explained. The subject should generally conform to the neighborhood in terms of style, design, utility, etc. If this is not the case, please provide detailed commentary. If subject condition is as a C6, the report is to be completed subject to all repairs necessary for a C5 condition rating or better. Repairs should be listed with a cost to cure and corresponding photographs. If the subject's effective age and actual age differ considerably, year built adjustments, and/or if the property has an effective age higher than its actual age, the Appraiser must provide detailed commentary regarding all improvements, significant updating, or renovations. Any evidence of dampness, settlement, or infestation must be thoroughly explained with photographic evidence. If the property has been identified in the Appraiser s commentary as being in fair or poor condition, the Appraiser must thoroughly explain and provide comparables that offer similar condition. Any deficiencies or adverse conditions should be thoroughly explained, and any needed repairs reported with a cost to cure provided. Photos of the needed repairs should also be included in the report. Any adverse environmental conditions must be thoroughly explained. Subject details must be consistent with the sketch and sales grid. If the subject property does not have a permanent heating system, please provide detailed comments in the report about whether it is common for the area and the impact on marketability The subject must have a working kitchen, and at least one working bath. If the subject property has an unusual layout and/or floor plans provide detail commentary within the report regarding market resistance to the property and make appropriate adjustments to reflect the situation in the overall analysis. FNMA guidelines regarding Gross Living Area (GLA) should be followed. The appraiser must be consistent when her or she calculates and reports the finished above-grade room count and the square feet of gross living area that is above-grade. The need for consistency also applied from report to report. Detailed commentary is required if the subject is over or under improved. Accessory Units Fannie Mae will purchase a one-unit property with an accessory dwelling unit. An accessory dwelling unit is defined as any area, above grade or below, attached or detached and having a fully functioning kitchen and bathroom. Some examples may include a living area over a garage and basement units. Whether a property is a one-unit property with an accessory unit or a two-unit property will be based on the characteristics of the property, which may include, but are not limited to, the existence of separate utilities, a unique postal address, and whether the unit is rented. The appraiser is required to provide a description of the accessory unit, and analyze any effect it has on the value or marketability of the subject property. Accessory Dwelling Units (ADU); Appraiser must confirm that any ADUs o Improvements Section General Description to reflect One with Accessory Unit. o Are permitted under zoning,
4 o Can be rented out under current zoning, o Are separately metered and comment on any marketability issues o Has a separate entrance o Has a separate address If ADU is permissible, then 1 additional comp with similar influence is required. If it is determined that the property contains an accessory dwelling unit that does not comply with zoning, the property is eligible under the following additional conditions: o The use conforms to the subject neighborhood and to the market. o The property is appraised based upon its current use. o The appraisal must report that the improvements represent a use that does not comply with zoning. o The appraisal report must demonstrate that the improvements are typical for the market through an analysis of at least three comparable properties that have the same non-compliant zoning use. If there is only a second kitchen in the property, but no accessory apartment, any functional obsolescence must be properly identified and addressed in the commentary. An additional comparable with a second kitchen is not necessary. Sales Comparison Analysis (SCA): All comparables must be similar in physical and legal characteristics when compared to the subject property. These characteristics include, but are not limited to, site, room count, gross living area, style, and condition. Comparables should be competitive and appeal to the same market participants that would also consider purchasing the subject property. Comparables that are significantly different from the subject property may be acceptable; however, the appraisal must describe the differences, consider these factors in the market value, and provide an explanation justifying the use of the comparables, If the property is urban or suburban, the appraiser is responsible for determining which comparables are the best and most appropriate for the assignment If the subject property is in a condominium or PUD project all FNMA guidelines for comparables must be followed. See additional condominium requirements under All Condominiums section. If the property is rural appraiser must use his or her knowledge of the area and apply good judgment in selecting comparable sales that are the best indicators of value. A detailed explanation of the comparables used is required. The ideal age for comparables is less than 1 year from sale date however the best and most appropriate comparable sales may not always be the most recent sales. If comparables used are over 1 year in age a detailed explanation of the comparable used is required All data sources must be publicly verifiable and disclosed in the report. Days on market for all comparables, listings, or pending sales must be provided. Comparables used should be from a verifiable source where the interior condition and the terms of sale can be confirmed by a third party. The Appraiser must analyze the market for competitive properties and provide appropriate market based adjustments Across the board adjustments that affect the opinion of value must be properly supported with additional closed sales to support and bracket the subject s characteristics.
5 All prior sale information for the subject and comparables should be provided, along with the data sources used for verification. Appraiser must provide adequate commentary explaining his/her analysis, methodologies, and conclusions. The indicated value is to be supported by both the pre- and post- adjusted range of the comparables, and should appear reasonable. Reconciliation: The appraisal should be correctly conditioned, as is, subject to, etc. The assignment should be completed subject to for any of the following: New construction not yet complete Any renovations on existing construction C6 condition (or below average on a 1025) - If the Appraiser s commentary indicates the subject condition is anything less than average, then the subject must be appraised subject to with a cost-to-cure to bring the subject C5 or better (average condition on a 1025) All utilities not being on and operational Any deficiency that affects safety, livability, soundness, or structural integrity If access was denied to any rooms or of permission to photograph any areas was denied Cost Approach / Income Approach: Cost Approach is only required when the subject is a unique property or has specialized improvements If the Cost Approach is not used, the Appraiser should comment as to why it was not completed. If the appraiser has reported the cost or income approach, the data sources and methodologies used should be clearly defined. If the appraiser opts to add an opinion of site value, and that opinion exceeds 30% of the appraised value then, comments are needed as to whether site value is typical to the market Solar Panels: If the subject property has solar panels, the appraiser must indicate if the solar panels are leased or owned by the property owner. If the property owner is the owner of the solar panels, standard eligibility requirements apply If the solar panels are leased, they may not be included in the appraised value of the property Appraiser must comment whether the subject is also connected to public power Subject Photos: All photographs must be clear, appropriately identified, and must plainly show the completed improvements. They must be high quality electronic images, in focus, with proper lighting. Interior photos with applicable labels are required and at minimum include: all kitchen(s) o all bathrooms above and below grade o main living area(s)
6 o any deferred maintenance or repair items, recent updates, restoration, remodeling, and renovations Exterior Photos with applicable labels are required with all appraisals. o front, back, and a street scene of the subject property o o all outbuildings, even if they do not contribute value. any deferred maintenance or repair items, recent updates, restoration, remodeling, and renovations Please include commentary on any positive or negative conditions or improvements that have a material effect on the market value or marketability of the subject property Note that Fair Housing laws apply to any photographs contained in the appraisal If you are unable to obtain photos of certain rooms or buildings, please note within the report why you were not able to obtain the photos and consult with your AMC as applicable Attachments: The 1004 MC addendum must accompany the completed appraisal report for all 1-4 unit dwellings All supplemental addendums referenced in the report. All reports must include a current copy of the Appraiser s license with all reports. Only enter the Appraiser license or certification number in the appropriate field on the signature page. Do not enter this information into both fields; only choose the field that applies to the licensing type. Do not include more than one license number. Do not use special characters other than license number A location map showing the subject and all comparables, including all listings and rental comparables, must be provided and is consistent with the neighborhood description A sketch with dimensions, room labels, and GLA for all above grade or partially above grade finished areas with calculations must be provided California properties: The following is needed on all properties in California: Comment on whether a carbon monoxide detector was present on the property at the time of inspection Comment on whether the hot water heater was double strapped at the time of inspection. The presence or absence of these items will not affect the appraisal s reconciliation of as is verses subject to All Condominiums: Follow all FNMA guidelines for comparable selection. This includes new or recently converted complexes or detached condos In the event, there are no closed sales inside the new subject property or subdivision because the subject property transaction is one of the first units to sell, the appraiser may use two pending sales in the subject project or subdivision in lieu of one closed sale. When the appraiser is using two pending comparable sales in lieu of a closed sale, the appraiser must also use at least three
7 closed comparable sales from projects or subdivisions outside of the subject property s project or subdivision. When the address of the property does not include a Unit #, please add a dash (- ) in the Unit # field of the appraisal report o Example Condominium Address: 123 Main Street o Correct Appraisal Address Information o Appraisal Property Address Main Street o Appraisal Unit # - Incorrect Appraisal Address Information o Appraisal Property Address 123 Main Street, Unit # Detached / Site Condos: The FNMA 1073 form must be used Indicate that the subject property is a detached condominium The name of the Homeowner s Association, property management group or builder (as applicable) Name and phone number of the contact person used to verify project information; and The PUD box is left blank Indicate the monthly HOA fee and what it covers Total number of units in the project Total current number of units completed Total number of units sold Whether any single entity owns more than 10% of the units in the project; and A description of what the projects common areas are If any of the common elements (as applicable) are leased to or by the HOA Commentary regarding the adequacy of the projects overall maintenance Commentary regarding the effect that buyer resistance to the condominium form of ownership has on the market value of the individual unit If the condominium project is new and the condominium unit is offered by a builder other than the one that built the subject unit than at least one detached condo unit (which may be located either in a competing project or in the subject project) is required Whether the HOA or developer is named as a party to pending litigation that relates to the safety, structural soundness, habitability, or functional use of the project Whether if in a new project, the seller is offering excessive or undisclosed sale/financing structures to the buyer. If the condominium project is new, the appraiser used as a comparable sale at least one detached condo unit, which may be located either in a competing project or in the subject project, if the condo unit is offered by a builder other than the one that built the subject unit. PUD Properties: For all PUD properties, the appraiser must list and comment on the following and how they compare to area PUD developments:
8 The common elements and amenities are minimal, do not impact marketability AND are typical / common to the area and the comparables have similar common elements / amenities. Examples include Greenbelt, Signage, Garbage Pick-Up, Hiking Trails or Basic Maintenance -OR- Comparables have the same amenities, such as (Security gate, Community Pool, etc.) -OR- Are not standard or typical for the area and/or comparables do not have similar common element/amenities. The appraiser MUST define impact to marketability and adjust value accordingly if necessary. The PUD section must be completed regardless of builder / developer control or whether attached or detached. 2-4 Family Reports: FHA: Comparable photos and location map are to include comparable rentals Appraiser must reconcile all Value Per indicators of value in the summary of Sales Comparison Approach All current guidelines apply. The FHA case number must appear in the upper right corner of each page of the appraisal form, and be above the file number The case number must be formatted correctly XXX-XXXXXXX and not include any designator number such as 703 at the end. This designator number may come over with the order, however, is not part of the case number Appraiser Trainees may not sign the appraisal report, only the FHA roster approved appraiser who was assigned the order 1004D Final Inspection and Appraisal Update: Final inspections must contain subject photos including finished work or repair items cited in the original appraisal All Updates must include the Effective Date of Appraisal Update
Appraisal Engagement Instructions
Appraisal Engagement Instructions OVERVIEW The appraisal report must be prepared by a state licensed or certified appraiser and must comply with the Appraiser Independence Requirements (AIR), Uniform Standards
More informationAPPRAISAL REQUIREMENTS FOR SUNTENDER VALUATIONS, INC. Updated 03/26/2018
APPRAISAL REQUIREMENTS FOR SUNTENDER VALUATIONS, INC. Updated 03/26/2018 STOP Call Suntender Valuations if subject is a refinance transaction however it has been listed for sale in the past 3 months, unless
More informationAppraisal Review: Analyzing the 1004
Appraisal Review: Analyzing the 1004 1 LIVE ONLINE PARTICIPANT GUIDE Version: 8.12 Table of Contents The Purpose of the Appraisal... 3 Define Market Value... 3 Scenario 1 (John Johnson report) - 1004 Uniform
More informationAppraisal Review Reminders
Use the following list of reminders as a tool when underwriting the appraisal report. For complete information on appraisal requirements, refer to the Freddie Mac Seller/Servicer Guide (Guide) Chapter
More informationAppraisal Review Reminders
Use the following list of reminders as a tool when underwriting the appraisal report. For complete information on appraisal requirements, refer to the Freddie Mac Seller/Servicer Guide (Guide) Chapter
More informationAgency Guideline Revisions Note: SunTrust Mortgage specific overlays are underlined.
Accessory Units Correspondent Section 1.07 Appraisal Guidelines & Correspondent Section.01 Agency Loan Programs- Guideline Standard Agency Agency Plus Home Possible Mortgage Section 1.07 Appraisal Guidelines
More informationFreddie Mac UCDP Proprietary Messages
UCDP Proprietary Messages -specific feedback messages for appraisals submitted to in the Uniform Collateral Data Portal (UCDP ). The content in brackets represents dynamic values. *Message text updated
More informationCopyright, 1999, 2002, 2004, Freddie Mac. All Rights Reserved.
Page 1 of 13 Engineering Requirements/Chapter 12: Appraiser and Appraisal Requirements/12.1: General requirements 12.1: General requirements For all multifamily purchase programs and products, the Seller/Servicer
More informationEvaluating Your Appraisal
Evaluating Your Appraisal April 28, 2011 Presented by: Brady W. Meadows Mortgage Compliance Advisors Instructions Because of the large number of registrants, the lines will be muted. To ask a question,
More informationUNIFORM APPRAISAL DATASET (UAD) FHA SPOTLIGHT - SELECTION AND VERIFICATION OF COMPARABLE SALES
Spring 2011 Issue 3 FHA APPRAISER In This Issue: Welcome to the third issue of the Federal Housing Administration Appraiser Roster Newsletter. We hope you will find it informative. Uniform Appraisal Dataset
More informationChapter 5 Fee Appraiser Responsibilities
Chapter 5 Fee Appraiser Responsibilities The fee appraiser is responsible for all aspects of the appraisal process. Important: Certain key appraisal functions may not be delegated to anyone else. Failure
More informationUnderwriting the FHA Appraisal
Disclosure The purpose of this presentation is an overview of the subject matter with summation and explanation of recent changes in FHA policy. It introduces and explains, rather than supplants, official
More informationDemonstration Appraisal Report Utilizing a Form Report
Demonstration Appraisal Report Utilizing a Form Report National Association of Independent Fee Appraisers 330 North Wabash Avenue, Suite 2000 Chicago, IL 60611 Phone: (312) 321-6830 Fax: (312) 673-6652
More information173 Technology Drive, Irvine, California 92618
173 Technology Drive, Irvine, California 92618 This engagement letter serves as a contract between the vendor listed and SWBC Lending Solutions and can ONLY be completed by the appraiser listed. The appraiser
More informationParamount Residential Mortgage Group Appraisal Guidelines
Paramount Residential Mortgage Group Appraisal Guidelines Each appraisal assignment is to include a complete and thorough effective analysis of the subject s market area to determine if property values
More informationAppraisal and Property Related Frequently Asked Questions (FAQs) Updated September 2014
Appraisal and Property Related Frequently Asked Questions (FAQs) Updated September 2014 This FAQ document provides responses to common questions related to Fannie Mae s property eligibility and appraisal
More informationUniform Appraisal Dataset (UAD) Frequently Asked Questions
Uniform Appraisal Dataset (UAD) Frequently Asked Questions July 13, 2014 Updated for formatting May 15, 2017 The following provides answers to questions frequently asked about Fannie Mae s and Freddie
More informationAPPRAISAL OF REAL PROPERTY
Home Appraisals, Inc. (866) 533-7173 APPRAISAL OF REAL PROPERTY File # LOCATED AT Field Review Form Sample FOR OPINION OF VALUE 35, AS OF 11/1/7 TABLE OF CONTENTS One-Unit Field Review... 1 General Text
More informationUnpermitted Additions and Garage Conversions Job Aid 8/14/17
Unpermitted Additions and Garage Conversions Job Aid 8/14/17 Issue Zoning Requirements Unpermitted Addition and Garage Conversion Additional living area added to the primary dwelling by addition or conversion
More informationOverall Trend Section Example Seller Concessions Foreclosure Sales and Summary/Analysis of Data... 13
Appraisal and Property-Related Frequently Asked Questions (FAQs) This FAQ document provides responses to common questions related to Fannie Mae s property eligibility and appraisal policies. Following
More informationResidential Appraising What Lenders Want
Residential Appraising What Lenders Want Introductions Ken DeFeo 25 years appraising have worked for lenders for 20 years Lets get to know a little about the audience How many appraisers do we have? How
More information2. Is the information in the contract section complete and accurate? Yes No Not Applicable If Yes, provide a brief summary.
The purpose of this appraisal field review report is to provide the lender/client with an opinion on the accuracy of the appraisal report under review. Property Address City State Zip Code Borrower Owner
More informationRestricted Use Appraisal Report Residential
Client File #: Appraisal File #: Restricted Use Appraisal Report Residential Appraisal Company: Address: Form 200.04* Phone: Fax: Website: Appraiser: Co-Appraiser: AI Membership (if any): SRA MAI SRPA
More informationAs Of: Prepared For: Prepared By:
of 216 SW 131st St As Of: 06/11/11 Prepared For: Prime Pacific Bank 2502 196th St SW Lynnwood WA 98036 Prepared By: Cynthia A. Nagle, CREA 922 N Cedar St Tacoma, WA 98406 RESTRICTED APPRAISAL REPORT Restriction
More informationLand, Agricultural Improvements, CAFO, Rural Residence, Farm
*--FSA Appraisal Guidelines Land, Agricultural Improvements, CAFO, Rural Residence, Farm The following information elements and content descriptions are provided as guidelines to assist lenders and appraisers
More informationBPO Best Practices Guide
BPO Best Practices Guide A Step by Step Guide for Completing BPO Reports Version: 1.0.0 Published: 03/01/2011 Global DMS, 1555 Bustard Road, Suite 300, Lansdale, PA 19446 2014, All Rights Reserved. Table
More informationUniform Residential Appraisal Report (URAR) Model Appraisal
Basic Appraisal Procedures Residential Applications & Model Appraisals 15-13 Uniform Residential Appraisal Report (URAR) Model Appraisal On the following pages are examples of a completed Fannie Mae/Freddie
More informationRESTRICTED APPRAISAL REPORT
Restricted Use Appraisal Report Thomas J. Schulte & Associates Page #1 RESTRICTED APPRAISAL REPORT SUBJECT ASSIGNMENT Property City: Zip Code: County: Legal Description: Assessor's Parcel #: Tax Year:
More informationIndividual Cooperative Interest Appraisal Report
PURPOSE Individual Cooperative Interest Appraisal Report The purpose of this appraisal report is to provide the client with a credible opinion of the defined value of the subject property, given the intended
More informationTo all Appraisers: Brief Overview:
To all Appraisers: As the appraisal industry continues to change, the demand for alternative valuation solutions grows. That is why is excited to announce the addition of a new product - the Desktop Appraisal
More informationSelling Part VII - Property and Appraisal Analysis
Selling Part VII - Property and Appraisal Analysis This Part--Property and Appraisal Analysis--details our general requirements for analyzing the property appraisal aspects of conventional mortgages secured
More informationEMPLOYEE RELOCATION COUNCIL SUMMARY APPRAISAL REPORT
EMPLOYEE RELOCATION COUNCIL SUMMARY APPRAISAL REPORT Client: Client File #: Client Address: Suite #: Homeowner: Subject Property Address: County: Appraiser Company Name: TOMAINO APPRAISAL Appraiser File
More informationFHA -203K And Renovation Loans
FHA -203K And Renovation Loans What is a 203K FHA Loan or a Renovation Loan? Both loan types enable homebuyers and homeowners to finance both the purchase (or refinancing) of a house and the cost of its
More informationDivision of Real Estate. Summary of BOREA Investigations
Division of Real Estate Summary of BOREA Investigations Complaint Stats for Prior 12 Months BOREA Checklist for Investigations Generally follows the FNMA 1004 layout Neighborhood and Market Analyses Site
More informationChapter 8 Qualifying Property
The 3 "Cs" of Lending Capacity to Pay does the borrower make enough money to repay loan? lenders use qualifying ratios Creditworthiness [Character] is the borrower likely to repay loan on time? lenders
More informationRestricted Use Appraisal Report Residential
Client File #: Appraisal File #: Restricted Use Appraisal Report Residential Form 200.04 * Appraiser: AI Membership (if any): SRA MAI SRPA AI Affiliation (if any): Candidate for Designation Practicing
More informationContinental Real Estate Services, Inc. ACTIVE TO SOLD ADJUSTMENT File No. Case No. Borrower Property Address City County State Zip Code
ACTIVE TO SOLD ADJUSTMENT Property Generally, when an appraiser appraises a unit in a cooperative project, he or she should use sales of cooperative units as comparables. However, the appraiser may use
More informationFreddie Mac Condominium Unit Mortgages
For all mortgages secured by a Condominium Unit in a Condominium Project, the Seller must perform an underwriting review of the Condominium Project to ensure the mortgage and the project meet the requirements
More informationGAAR Harness the Power of Technology to Create the BEST Appraisal Reviews Possible
GAAR Harness the Power of Technology to Create the BEST Appraisal Reviews Possible Presented by FNC March 21, 2012 INTRODUCTION General Information: Conference Web Page Audio & Supporting Documents Submit
More informationRevuPro Appraisal Review
RevuPro Appraisal Review Getting It Right ELLIOTT introduces its flagship review product RevuPro, as an independent appraisal review service. Q. What is it and what does it do? A. RevuPro is a fast, economical
More informationMarch 23, 2009 MORTGAGEE LETTER
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER March 23, 2009 MORTGAGEE LETTER 2009-09 TO: SUBJECT: ALL APPROVED
More informationIndividual Condominium Unit Appraisal Report
The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property. SUBJECT Property Address Unit
More informationRESIDENTIAL APPRAISAL SUMMARY REPORT
APPRAISAL SUMMARY REPORT SUBJECT ASSIGNMENT SALES COMPARISON APPROACH Lic #: 80000019 Page #1 File No.: : City: WHITE PLAINS State: NY Zip Code: County: WESTCHESTER Legal Description: Assessor's Parcel
More informationColorado Appraisal Consultants
Colorado Appraisal Consultants SUBJECT Individual Condominium Unit Appraisal Report File # The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately
More informationTraining the Next Generation of Appraisers The S.T.A.R.T. Program - Standards to Assure Responsible Training:
Training the Next Generation of Appraisers The S.T.A.R.T. Program - Standards to Assure Responsible Training: An Industry Solution to the Declining Number of Appraisers Entering the Profession and Practical
More informationRESIDENTIAL APPRAISAL SUMMARY REPORT
APPRAISAL SUMMARY REPORT SUBJECT ASSIGNMENT SALES COMPARISON APPROACH Lic #: 4800004017 Page #1 File No.: : City: Rye State: NY Zip Code: County: WESTCHESTER Legal Description: Assessor's Parcel #: (SUMMARY
More informationFannie Mae Selling Guide (04/12/2002) Part XI - Property and Appraisal Guidelines
Fannie Mae Selling Guide (04/12/2002) Part XI - Property and Appraisal Guidelines This Part-Property and Appraisal Guidelines-details our general requirements for analyzing the property appraisal aspects
More information619 STANDARD 2: REAL PROPERTY APPRAISAL, REPORTING
619 STANDARD 2: REAL PROPERTY APPRAISAL, REPORTING 620 In reporting the results of a real property appraisal, an appraiser must communicate each analysis, 621 opinion, and conclusion in a manner that is
More informationSUBJECT: SELLING UPDATES
TO: Freddie Mac Sellers June 27, 2018 2018-10 SUBJECT: SELLING UPDATES This Guide Bulletin announces: Property eligibility and appraisal requirements Eligibility of Condominium Units for automated collateral
More informationGuidance for Lenders and Appraisers April 2009
Guidance for Lenders and Appraisers April 2009 Fannie Mae views lenders as our partners in ensuring the continued viability of the residential lending market and the continued availability of affordable
More informationVALUE FINDING APPRAISAL REPORT
RE 90 Rev. 01-2014 VALUE FINDING APPRAISAL REPORT (Compensation not to exceed $65,000) COUNTY John Doe 2880 Lancaster-Newark Rd. (SR 37), Pleasant Twp., 43030 Owner Mailing Address of Owner East side of
More informationFannie Mae Single Family/2007 Selling Guide/Part XI: Property and Appraisal Guidelines/Part XI: Property and Appraisal Guidelines
Fannie Mae Single Family/2007 Selling Guide/Part XI: Property and Appraisal Guidelines/Part XI: Property and Appraisal Guidelines Part XI: Property and Appraisal Guidelines Copyright, 2001-2007, Fannie
More informationSmall Residential Income Property Appraisal Report File #
SUBJECT Summary Appraisal Report Brian J. Davis & Associates Small Residential Income Property Appraisal Report File # Page #4 The purpose of this summary appraisal report is to provide the lender/client
More informationUNDERSTANDING HOW USPAP APPLIES TO REAL PROPERTY APPRAISAL PRACTICE USPAP Matrix
UNDERSTANDING HOW USPAP APPLIES TO REAL PROPERTY APPRAISAL PRACTICE - 2014-2015 USPAP Matrix This matrix assumes an Appraisal Report Format under S. R. 2-2(a). *Last updated 9/11/14* GENERAL Violation
More informationThis chapter describes Fannie Mae s project standards, policies, and requirements.
Chapter 2, Project Standards Chapter B4-2, Project Standards Project Standards Click to see prior version of topic Introduction This chapter describes Fannie Mae s project standards, policies, and requirements.
More informationBroker Price Opinion
Broker Price Opinion + Exterior Inspection Interior Inspection Property Address: 15631 S. Tarrant Ave Vendor ID: 4557523 City, State, Zip: Deal Name: Loan Number: 15631STARRANTAVE Inspection Date: 6/06/2018
More informationUniform Residential Appraisal Report File #
D.S. Murphy & Associates FHA/VA Case No. SUBJECT The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of
More informationExterior Only Inspection Residential Appraisal Report File #
SUBJECT Summary Appraisal Report Brian J. Davis & Associates Exterior Only Inspection Residential Appraisal Report File # Page #3 The purpose of this summary appraisal report is to provide the lender/client
More information10454 South Green Bay Avenue Chicago, IL Client and Order Detail. Subject Property Information
Client and Order Detail Client: Address: 10454 South Green Bay Avenue Client Loan Number: C/S/Z: Order Number: 0290016663 County: Cook Inspection Type: BPO-Interior BPO Agent: Lopez, Leo Mortgagor's Name:
More informationFROM: Russell T. Davis (Signed by Tom Hannah) for Administrator Housing and Community Facilities Programs
RD AN No. 4303 (1980-D) August 13, 2007 TO: All State Directors Rural Development ATTENTION: Rural Housing Program Directors, Guaranteed Rural Housing Specialists, Rural Development Managers, and Community
More informationAppraisal Stream Restricted Use Residential Appraisal Report
Appraisal Stream Restricted Use Residential Appraisal Report File No. 769kemplin This report is limited to the sole and exclusive use of the client. The appraiser's opinions and conclusions set forth in
More informationThe ATA Board of Directors concurred that this information be shared with not only ATA members, but all of the Appraisers in Texas.
General Announcement 11 19 2013 Subject: FHA Seminars in Texas Points of Misunderstanding On September 12, 2013, several ATA members contacted the ATA about contradictory statements which has caused some
More informationAPPENDIX A: VALUATION OF REAL ESTATE OWNED PROPERTIES A-1 REAL ESTATE OWNED (REO)
APPENDIX A: VALUATION OF REAL ESTATE OWNED PROPERTIES 4150.2 A-1 REAL ESTATE OWNED (REO) FHA s Real Estate Owned (REO) properties are a result of paying a claim to a lending institution and the lender
More informationSection Condominium and PUD Approval Requirements
Section 1.06 - Condominium and PUD Approval Requirements In This Section This section contains the following topics. Overview... 2 Related Bulletins... 3 Agency... 4 General Information on Condominium
More informationconcepts and techniques
concepts and techniques S a m p l e Timed Outline Topic Area DAY 1 Reference(s) Learning Objective The student will learn Teaching Method Time Segment (Minutes) Chapter 1: Introduction to Sales Comparison
More informationILLINOIS HOUSING DEVELOPMENT AUTHORITY APPRAISAL SCOPE AND GUIDELINES December 2015
ILLINOIS HOUSING DEVELOPMENT AUTHORITY APPRAISAL SCOPE AND GUIDELINES December 2015 As part of the Common Application for Multifamily Financing, the Illinois Housing Development Authority (IHDA) requires
More informationAPPRAISAL OF REAL PROPERTY LOCATED AT: FOR: AS OF: BY:
APPRAISAL OF REAL PROPERTY LOCATED AT: 489 MEADOWS EDGE COURT DEED BOOK 2896, PAGE 2759 CLEMMONS, NC 27012 FOR: ESTATE OF WILLIAM C. McINTOSH % BAILEY & THOMAS P.O. BOX 52 WINSTON-SALEM, NC 27102 AS OF:
More informationSection Condominium and PUD Approval Requirements
Section 1.06 - Condominium and PUD Approval Requirements In This Section This section contains the following topics. Overview... 2 Related Bulletins... 3 Agency... 4 General Information on Condominium
More informationAPPRAISAL OF LOCATED AT:
APPRAISAL OF LOCATED AT: 5905 S County Road K South Range, WI 54874 February 18, 2015 In accordance with your request, I have appraised the real property at: 5905 S County Road K South Range, WI 54874
More informationFreddie Mac Condominium Unit Mortgages
For all mortgages secured by a Unit in a Project, Sellers must meet the requirements of Freddie Mac Single-Family Seller/Servicer Guide (Guide) Chapter 5701, Special for s, and the Seller s other Purchase
More information2-4 UNIT RESIDENTIAL APPRAISAL REPORT
2-4 UNIT RESIDENTIAL APPRAISAL REPORT SUBJECT ASSIGNMENT MARKET AREA DESCRIPTION : : Cincinnati State: OH Zip Code: 45229 County: Hamilton Legal Description: 709 S CRESCENT AVE 50 X 250 PT LOT 29 S CLOONS
More informationFreddie Mac Condominium Unit Mortgages
For all mortgages secured by a Condominium Unit in a Condominium Project, you must meet the requirements of Freddie Mac Single-Family Seller/Servicer Guide (Guide) Chapter 5701, Special for Condominiums,
More informationBasic Appraisal Procedures
Hondros Learning Basic Appraisal Procedures Timed Outline Topic Area Reference(s) Learning Objectives The student will be able to identify and/or apply: Teaching Method Time Segment (Minutes) Day 1 Chapter
More informationCENTER FOR PROFESSIONAL EDUCATION 9590 West 14 th Avenue Lakewood, CO (720)
CENTER FOR PROFESSIONAL EDUCATION 9590 West 14 th Avenue Lakewood, CO 80215 (720) 889-0797 Approved and Regulated by Division of Private Occupational Schools, Department of Higher Education, State of Colorado
More informationPROPERTY INFORMATION PACKAGE #
PROPERTY INFORMATION PACKAGE # 11-1320 Mortgagee s Foreclosure AUCTION 2,153+/-SF SINGLE FAMILY HOME ON.15+/- ACRES 3 Bedroom, 1.5 Bath ~ Detached 2-Car Garage 49 RAVINE RD., MEDFORD, MA Tuesday, April
More informationAnatomy Of An Appraisal
Anatomy Of An Appraisal Leslie A. Fields The most important thing to know about an appraisal report is how to review and critique it. Leslie A. Fields a partner with the Law Firm of Faegre & Benson LLP,
More informationSection Leasehold Estate Guidelines
Section 1.10 - In This Section This section contains the following topics: Overview... 2 General... 2 Related Bulletins... 3 Identifying a Leasehold Estate... 4 Occupancy/Property Types... 5 Eligible Occupancy/
More informationAppraisal Underwriting. Review of The Sales Comparison Approach October 2015
Appraisal Underwriting Review of October 2015 Genworth Mortgage Insurance Corporation 2015 Genworth Financial, Inc. All rights reserved. Session Overview Participants will learn about analyzing the Uniform
More informationPage 1 of 6 Search: Broker BPO Results - FNMA BPO Form (V3) Valuations Logout Commands Broker BPO Results - FNMA BPO Form (V3) Property Address: 635 CAREFREE DR SAN DIEGO, CA 92114 (F-V8) BROKER'S PRICE
More informationEXTERIOR APPRAISAL OF A SINGLE FAMILY HOUSE
EXTERIOR APPRAISAL OF A SINGLE FAMILY HOUSE LOCATED AT Volume 4330 Page 223 FOR 1318 Bedford St OPINION OF VALUE 347,000 AS OF July 2, 2014 BY Chrys-Ann Young Chrys-Ann Young, Appraiser 45 Downs Ave Stamford,
More informationCondo Questionnaire. Legal Name of Project HOA IRS TAX ID Number Address City, State, Zip State Zip Code Total Size (Sq Ft) Year Built/Converted
Condo Questionnaire Loan Number Applicant Name Unit Number Dear Association Representative: In order to offer a mortgage to your member, and also for future purchasers in your project, we ask for your
More informationMultifamily Seller/Servicer Guide Chapter 12: Appraiser and Appraisal Requirements
Multifamily Seller/Servicer Guide Chapter 12: Appraiser and Appraisal Requirements Please contact Marty Skolnik at Martin_Skolnik@freddiemac.com if you have questions about Freddie Mac s appraisal requirements.
More informationOFFER CHECKLIST FOR REO PROPERTIES:
OFFER CHECKLIST FOR REO PROPERTIES: These items below filled out in ENTIRETY will constitute a complete offer package: Offer package must be 5MB or less in size. Please scan entire contract package black
More informationCONDOMINIUM PROJECT APPROVAL CHECKLIST. Project Name: Project Address: City: State: Zip Code: Name: Phone Number: Address: City: State:
CONDOMINIUM PROJECT APPROVAL CHECKLIST Project Name: Project Address: City: State: Zip Code: Project Contact Name: Phone Number: Address: City: State: Please ensure that the project meets all applicable
More informationPro-Series Webinar: Fannie Mae Update Collateral Policy and Technology Guidance For Appraisers
Pro-Series Webinar: Fannie Mae Update Collateral Policy and Technology Guidance For Appraisers March 29, 2017 Presenters: Julie Jones & Jeremy Staudenmaier Webinar Audio (phone only): 1 - (866) 218-8865
More informationAppraisal Logistic Solutions, LLC (Appraisal Logistics) Appraiser Engagement Agreement
Appraisal Logistic Solutions, LLC (Appraisal Logistics) Appraiser Engagement Agreement APPRAISAL REQUEST ACCEPTANCE: By accepting the attached Appraisal Request, you agree to and accept all of the terms
More informationType II Replacement Dwelling (EFC) Packet updated 07/07/16
WASHINGTON COUNTY Dept. of Land Use & Transportation Planning and Development Services Current Planning 155 N. 1 st Avenue, #350-13 Hillsboro, OR 97124 Ph. (503) 846-8761 Fax (503) 846-2908 http://www.co.washington.or.us
More informationDear Valuation Professional
Dear Valuation Professional First American Mortgage Solutions LLC has a new product offering that we would like you to consider adding to your list of services with us - (Property Assessment Collateral
More informationLAND APPRAISAL REPORT
IDENTIFICATION LAND APPRAISAL REPORT Page #1 File No. Borrower None Census Tract * Map Reference 462820011000315 Property Address NWC Gaar and Pleasant View Roads City Richmond County Wayne State IN Zip
More informationHaley-Worsham & Associates LLC. HW Cordova, TN REFERENCE TO:
Haley-Worsham & Associates LLC FROM: INVOICE Michael Bray INVOICE NUMBER Haley-Worsham & Associates LLC 1176 Vickery Lane HW171254 Cordova, TN 816 DATE 12/11/217 Telephone Number: 91-755-146 Fax Number:
More informationKathy Coon, SRA Appraisal Review: CSI Style ( )
Appraisal Review: CSI Style Southern California Chapter Appraisal Institute July 16, 2009 Kathy Coon, SRA Chief Appraiser/Director-Appraisal Appraisal Quality Control FNC, Inc. www.fncinc.com com When
More informationA Demonstration Appraisal Report. Of a. Located at. Date of Appraisal. Prepared for. Prepared by
A Demonstration Appraisal Report Of a Located at Date of Appraisal Prepared for Prepared by International Association of Assessing Officers Professional Designation Subcommittee 314 W. 10 th Street Kansas
More informationMike Dalton Jr. and Associates. Christina Adams INVOICE NUMBER Mike Dalton Jr. and Associates 8191 Wethersfield Drive. PB125 Germantown, TN 38138
Mike Dalton Jr. and Associates FROM: INVOICE Christina Adams INVOICE NUMBER Mike Dalton Jr. and Associates 8191 Wethersfield Drive Germantown, TN 38138 DATE 08/14/2016 Telephone Number: (901) 674-0239
More informationAPPRAISAL OF REAL PROPERTY LOCATED AT: FOR: AS OF: BY:
Main File No. 11-1217 Page #1 of 24 APPRAISAL OF REAL PROPERTY LOCATED AT: 2495 Ross Rd LL 46; Dist. 6; Lot 21; Saddle Ridge Farms Snellville, GA FOR: 2495 Ross Road Snellville, GA AS OF: 12/22/2011 BY:
More informationSection Condominium and PUD Approval Requirements
Section 1.06 - Condominium and PUD Approval Requirements In This Section This section contains the following topics. Overview... 2 Related Bulletins... 3 Agency... 4 General Information on Condominium
More informationSECTION 5 ELIGIBLE RESIDENCE
5.01 Qualifying Residences Qualifying Residences must be located within the State of North Dakota. The Residence must be a fully completed, one- to four-unit Residence including townhouses, condominiums,
More informationHow to Read a Real Estate Appraisal Report
How to Read a Real Estate Appraisal Report Much of the private, corporate and public wealth of the world consists of real estate. The magnitude of this fundamental resource creates a need for informed
More informationFannie Mae Multifamily/Delegated Underwriting and Servicing Guide/Part III: Underwriting (08/23/99)/III, Chapter 5: Appraisal (08/24/99)
Page 1 of 19 Chapter 5: Appraisal (08/24/99) III, Chapter 5: Appraisal (08/24/99) This Chapter describes Fannie Mae's requirements for valuing multifamily Properties under the DUS product line. The appraiser's
More informationResidential Evaluation Report (RER) April, 2016
Residential Evaluation Report (RER) ensuring compliance with the Interagency Guidelines (IAG) and USPAP April, 2016 Definitions RER shall mean a Residential Evaluation Report and is deemed to be a restricted
More informationDate Listed Date Sold List Price Sale Price Notes
Standard BPO, Drive-By v2 2036 Lester Fork Road, Grundy, VA 24614 Please Note: This report was completed with the following assumptions: Market Approach: Distressed Price, Marketing Time: Abbreviated.
More information