Form 1004MC no longer required Effective immediately, Fannie Mae no longer requires the Market Conditions Addendum (1004MC) form as part of appraisal reports. The Selling Guide has been updated to reflect this change. Appraisers remain responsible for analyzing market conditions and accurately … [Read more...] about NEW Fannie Mae Selling Guide Update – 1004MC No Longer Required
For Immediate Release July 30, 2018 Washington, DC – The Internal Revenue Service (IRS) has issued a new rule which governs how cash and noncash charitable contributions should be valued. The new rule specifically cites the Uniform Standards of Professional Appraisal Practice (USPAP) of The … [Read more...] about IRS Final Rule Cites the Uniform Standards of Professional Appraisal Practice
Fannie Mae and Freddie Mac (the GSEs) have launched an initiative to update the Uniform Appraisal Dataset (UAD) and uniform appraisal reporting forms. The UAD and Forms Redesign initiative will leverage extensive stakeholder input to update the appraisal dataset, align it with the industry-standard … [Read more...] about Fannie Mae and Freddie Mac Will Update Appraisal Dataset and Forms
In this paper, FHFA studies whether there are any systematic quality differences between appraisals associated and unassociated with appraisal management companies (AMCs). We find that compared to non-AMC appraisals, AMC appraisals on average share a similar degree of overvaluation despite being … [Read more...] about Are Appraisal Management Companies Value-Adding?