1. Welcome to AppraisersForum.com, the premiere online community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

New Version of 1004MC Sample

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Rich Heyn, Mar 10, 2009.

Thread Status:
Not open for further replies.
  1. Rich Heyn

    Rich Heyn Senior Member

    0
    Jan 17, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Michigan
    There are several threads scattered about the forum today related to a revised 1004MC. I have not yet seen a clean copy in any of the threads, so here's a clean sample copy of Fannie Mae's recently revised 1004MC.

    Change #1: There is a new sentence in the instructions that reads:

    "It is recognized that not all data sources will be able to provide data for the shaded areas below; if it is available, however, the appraiser must include the data in the analysis."

    Change #2: The median sale price is now expressed as a % of sale price rather than a ratio.
     

    Attached Files:

  2. MS Rebel

    MS Rebel Senior Member

    0
    Aug 27, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Mississippi
  3. George Hatch

    George Hatch Elite Member

    48
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    California
  4. Anthem

    Anthem Senior Member

    0
    Mar 10, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    So now if we are seeing a percentage of 95% the median is selling for less than list price and if we see 105% it is selling for more than list price ... right?

    They essentially flipped it just like they should have, not that the readers will notice:)
     
  5. Dan/Fla

    Dan/Fla Member

    0
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    The bad part is with the shaded area. I have 1 client already wanting the 1004MC, at 1st I could not figure how to find some of the info needed in local MLS so I called tech support who was able to walk me through it, so I could complete the form. Completed the report sent it off less than 2 hours later my phone rang and my client wanted me to call these other 2 appraisers in my area and teach them how to find the info since they put N/A on form. I told them to call the appraisers and have them call Tech support themselves.

    I see a big problem is going to be some appraisers will not go to trouble to learn how to access the info and use the gray area as crutch, and not learn how to access the info.

    None of us may like the new form (including me) but we need to learn how to abstract the info, if it can be.
     
  6. EDWARD BERRY

    EDWARD BERRY Senior Member

    0
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    Thanks Much.

    I See That The Math Gru Developer Was Clued In That Most R.e. People Do Not Use Ratios.

    He (she) Must Also Have Designed The "start Button" For Hillary And Ordered The Videos In Us Format Rather Pal Foe The British Ambassador.

    We Have Some Brains In The Goverment.

    Backward In Arkansas.
     
  7. Hiker

    Hiker Sophomore Member

    0
    Oct 2, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Arizona

    How about a copy without the ACI Sample across it?
     
  8. Couch Potato

    Couch Potato Elite Member

    0
    Mar 15, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
  9. goldpenny

    goldpenny New Member

    0
    Mar 16, 2009
    Professional Status:
    Licensed Appraiser
    State:
    Massachusetts
  10. Hiker

    Hiker Sophomore Member

    0
    Oct 2, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Arizona
    Thanks guys..
     
Thread Status:
Not open for further replies.

Share This Page