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Changes To FNMA 1004MC ?

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Tom McClure, Mar 7, 2009.

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  1. Tom McClure

    Tom McClure Sophomore Member

    0
    Jan 18, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Ohio
    Anyone hear of changes to the FNMA 1004MC before April 1st. We just had a class on the new form in Independence Ohio and now several appraisers are saying changes may be in works. Great ! Anyone actually have the facts, or is it just wishfull thinking.

    Tom McClure, Ohio
     
  2. Tom Woolford

    Tom Woolford Elite Member

    27
    Nov 20, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Probably just wishful thinking. The powers that be don't move that quick. Too bad they did not have a public review period before they decided to require that abortion of a form.
     
  3. VegasWayne

    VegasWayne Senior Member

    12
    Nov 15, 2007
    Professional Status:
    Licensed Appraiser
    State:
    Nevada
    Tom is correct, they don't move that fast. The other problem is that if it is changed you have at least a 50/50 chance that it will be for the worse.
     
  4. Proactive

    Proactive Senior Member

    21
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Washington
    VW, I think you are being over optimistic...:icon_mrgreen:
     
  5. Sunshine in VA

    Sunshine in VA Member

    0
    Mar 3, 2006
    Professional Status:
    Licensed Appraiser
    State:
    Virgin Islands
    I took a 1004MC class yesterday and the instructor said changes to the 1004MC will be happening within the next six months.
     
  6. leelansford

    leelansford Elite Member

    44
    Mar 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois

    There was supposed to be an announcement of a change from Fannie as early as this past Friday (March 6). The notice that I received emanated from the state-wide appraiser association (ICAP) here in Illinois. Given that I know the source-person, I would be hard-pressed to believe that some sort of a change isn't on the way (but don't expect a total change in what is requested of the appraiser).

    Perhaps Fannie is waiting until Monday to make the announcement?
     
  7. Tom McClure

    Tom McClure Sophomore Member

    0
    Jan 18, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Ohio
    Thanks Lee, as always your on top of the issues. People like you make this forum a must for appraisers. If you hear anything else on the 1004mc, please let us know.

    Tom McClure, Ohio
     
  8. TJSum

    TJSum Elite Member

    3
    Nov 12, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Maryland
    Last edited: Mar 9, 2009
  9. leelansford

    leelansford Elite Member

    44
    Mar 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    It's (the change, or, "changes") coming. As to the "why" for the delay, I know not.
     
  10. Mike Kennedy

    Mike Kennedy Elite Member

    59
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
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