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1004MC & Freddie Mac foreclosures

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by lhilton, Sep 13, 2009.

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  1. lhilton

    lhilton Sophomore Member

    0
    Feb 15, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    West Virginia
    My company is doing a lot of "asset management" appraisals for Freddie Mac. They are 99% preforclosures. The AMC has just told us that the 1004MC is not required on these jobs. Does that sound right to anyone ?
    Just checking before I end up in trouble.
     
  2. VegasWayne

    VegasWayne Senior Member

    12
    Nov 15, 2007
    Professional Status:
    Licensed Appraiser
    State:
    Nevada
    I would at least save the data needed to do a 1004MC at a later date if they change their mind. The 1004MC is not required for all appraisals, only fannie mae and freddie mac appraisals for lending purposes and for other clients that request them.
     
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