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1004MC to be abandoned?

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Dave Smith, Feb 4, 2009.

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  1. Dave Smith

    Dave Smith Senior Member

    0
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Wisconsin
    My MLS service provider is Navica by Systems Engineering, Inc..

    My local board Executive Officer just talked to the Navica people about some changes we would like see made to the Navica search feature so the historical listing data would be available, because it is not practical to search for that data at present.

    She was told by the Navica people that there is so much "static" about the 1004MC form that it will probably be scrapped. Therefore, they are unwilling to make any changes to their current program search capabilities.

    Has anyone else heard that the form might be on the way out before it is even mandatory for Fannie & Freddie?

    Just wondering?

    Dave
     
  2. Smokey Bear

    Smokey Bear Elite Member

    0
    Dec 8, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Oh Dave, you are cruel to get us hoping. LOL
     
  3. panappr

    panappr Senior Member

    5
    Dec 5, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    I heard that the form was an April fools joke?
     
  4. Mr Rex

    Mr Rex Elite Member

    196
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    Our MLS software is by First American. According to the local MLS folks, the FA software people are dilegently working to provide the search capabilities Fannie requires in the new form.
     
  5. Midwest1

    Midwest1 Sophomore Member

    0
    Jan 25, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    I don't think it will be abaondoned. how else will skippy figure out how to fake his way through a market analysis? without it they will be stuck with the same boilerplate crap they have been given in the past. now at least they will have numbers in a form...even though they will probably be in accurate.
     
  6. silverstreak

    silverstreak Sophomore Member

    0
    Dec 4, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Does that mean if it is scrapped that since we would not to use it the price the amc's pay will go down? After all, they wanted us to include it for no charge, now since we will be saving time they will expect us to cut our rates even more. Maybe I should not give them any ideas.
     
  7. Roy Courtney

    Roy Courtney Senior Member

    4
    Dec 8, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Texas
    Heck, I was planning to use that form for a $50. to $75. price increase. Let's keep it!
     
  8. Mike Siegfried

    Mike Siegfried Junior Member

    0
    Nov 6, 2005
    Professional Status:
    Certified General Appraiser
    State:
    California
    Glass Houses

    Mike
     
  9. liberated

    liberated Member

    0
    Feb 11, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Tennessee
    I think that with so many changes in the horizon, no one really knows what will occur over the next several months.
     
  10. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    420
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    Since it is impossible to determine the listings in any previous 3 month period from our MLS, we cannot fill out the form accurately. Fannie recognized that issue.
     
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