#Fnma d1 form professional#
#Fnma d1 form mac#

The former form only asked if the house or any improvements were. The new form asks whether any part of the land involved in the mortgage transaction is in a flood hazard area. For interior inspections, measurements and/or pictures, please order a 1004 URAR. The 2055 is now specifically exterior only. The 2055 form now asks for more data than previously, including an extensive sales history of the subject and comparables, like the URAR.

It also asks for the number of comparable sales in the neighborhood within the last 12 months and their sales price range. The new form asks how many properties are listed for sale in the subject's neighborhood and in what listing price range. The new form also asks the appraiser to analyze the sales history for the selected comparables for the previous year. The new form asks the appraiser to analyze the sales contract for a property being sold (that is, not being refinanced only) and the sales or transfer history of the property for the last three years. The new version of the URAR eliminates the word 'apparent' and may require your appraiser to search recorded deeds and land records. We won't miss a beat with the new forms and we want to be sure you won't, either.ДЇeatures of the new Fannie Mae forms, especially the redesigned URAR and 2055 Exterior OnlyДЇormerly the URAR asked the appraiser if there were any apparent adverse site conditions or external factors, like encroachments, environmental issues or land uses.

#Fnma d1 form professional#

But you'll still be getting the quality, professional service you expect from us. You and your bank will be getting more useful, solid information, which you may find in different places than you're used to. What's the bottom line? The new forms require more research and analysis, firmer representations on the part of appraisers, and eliminate the cost and income approaches to value. There are literally dozens of ways, but below are the most important. Since there's a lot new in the new forms that may impact how you find the information you're looking for in our reports, our scope of work and lead times when you order a report, and even our fees, we want to make sure you're up to speed on the major ways the new forms differ from the old. We hope you consider us your valuation/appraisal experts, and we know that you expect us to get you the reports you need, on the forms required by your company and its secondary mortgage market partners.

We're ready to use the new URAR, 2055 and other redesigned forms (11 in all), whenever you need them. But starting November 1, the URAR, 2055 and other forms you're used to will begin to go away for good, replaced by new versions. Fannie and Freddie have been allowing the new forms to be used in lieu of the old for some time on a voluntary basis. Some lenders have applied for an extension from Fannie Mae that will allow them to accept the old versions of the forms past November 1. Since as you know most lenders use Fannie's forms in all cases, not just loans they're selling to Fannie Mae, you'll be seeing a lot of these new forms.

#Fnma d1 form mac#

Starting November 1, 2005, Fannie Mae and Freddie Mac will require newly redesigned appraisal forms for their loans. Fannie, Freddie will require newly redesigned URAR, 2055 and other appraisal forms starting November 1