2-4 Unit On 2055 Exterior Form?

[TJSum]

How about the old 2055 form? I would never ever do a exterior only on a 2-4 no matter the circumstances, but for those that do maybe the old 2055 would be better to use ???

 

[J Grant]

Let's face it, the forms are dated and since on the top of every URAR form it says in pre printed language "Summary Appraisal"...yet USPAP has retired the summary appraisal !

How nuts is that? So might as well put another property type on the form with disclosures, since the state boards if they were so inclined could punish appraisers for using forms that say "This summary appraisal" on the top of first page ...

Whoever produces the URAR forms might consider how terrible they are designed, repetitively asking the same data/source questions as if to trap the appraiser ( thanks, you know who you are attorney for this anal input which accomplishes nothing), then clumsy questions about neighborhood and subdivision, out of sync with MC form etc.

 

[Mr Rex]

I remember when the "new" forms came out and I suggested then and again, that there should be a large checkbox on page 1 of the major form that indicates whether the report complied to the pre-printed verbiage and FNMA et al requirements or give the end user a heads up that it was being used for something otherwise that they should be aware of.

 

[Michigan CG]

I remember when the "new" forms came out and I suggested then and again, that there should be a large checkbox on page 1 of the major form that indicates whether the report complied to the pre-printed verbiage and FNMA et al requirements or give the end user a heads up that it was being used for something otherwise that they should be aware of.

Well dang-it, that would make sense. No can do.

 

[Don Clark]

There are several residential small income exterior reports in Alamode. Wells Fargo has 1 and there is 1 for Appraisal Port, and an ENV Version.

 

[J Grant]

"The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property."

Atop every URAR form, in all its pre printed non USPAP compliant glory...

 

[BRCJR]

"Other" labels are still permissible but, at or near the beginning of the report the report option "should" be stated so the reader has a clear understanding of how the appraisal is reported.

 

[Howard Klahr]

the state boards if they were so inclined could punish appraisers for using forms that say "This summary appraisal" on the top of first page ...

Atop every URAR form, in all its pre printed non USPAP compliant glory

Please cite the specific USPAP violation that you are asserting

 

[DWiley]

"The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property."

Atop every URAR form, in all its pre printed non USPAP compliant glory...

FAQ 262

Question: I appraise residential properties and use the Fannie Mae 1004 (URAR) appraisal
report form. I’m aware USPAP requires me to label my reports as an “Appraisal
Report” (or “Restricted Appraisal Report”). But my appraisal software program
won’t let me change the report type from the old “Summary Appraisal Report” to
now required “Appraisal Report”. Does that mean my reports do not comply with
USPAP?

Response: No. The Comment to Standards Rule 2-2 states, in part:
An appraiser may use any other label in addition to, but not in place of, the label set
forth in this Standard for the type of report provided. (Bold added for emphasis.)
Therefore, use of the label “Summary Appraisal Report” does not violate USPAP, unless use of
that label in a specific report results in that report being misleading.

 

[Howard Klahr]

Replace "AMC" with "Lender" and you are correct

I dont doubt your assertion but i dont have these issues with direct engaged assignments