Fannie Mae NEW FORM Timeline

[ramrcdk]

2024 and beyond Implementation Begin limited production Implement broad production
Continue industry communications, education, and training to drive adoption and facilitate the transition

* Dates are subject to change as this multi-year industry project progresses.

 

[Mejappz]

We will have two housing busts (2008) and one very soon, and the GSEs will still be using the Jurassic Park 1004.

 

[Non Sequitur]

Wow. 2024 and beyond.... Begin limited production. .

 

[Mejappz]

I would advise everyone just t to refresh their current templates. This Is not going to get completed until the end of the decade. Maybe the GSEs should have made president Trump the CEO; all this would have been achieved five years ago.

 

[OSU Beavers]

I thought it was going to be One Form to Rule Them All. I kind of like that idea. Start with the basic info then the computer "form" opens up the appropriate sections for whatever property type you are appraising. I think the goal is to have us all filling out a form on a tablet which expands to meet your individual reporting needs. No more complaining that there is not enough room on page one for the neighborhood and market descriptions if the fields expand to accommodate all of your verbiage.

 

[Stephen Mueller]

Fannie Mae is Not Developing New Appraisal Forms - Appraisal Buzz

Despite what rumors you may have heard, Fannie Mae is not coming out with any new appraisal forms. Of course, I am playing with you a bit; they are coming out with a new portal of course - just not new forms. If you have not heard yet, FNMA is in the process (some say

www.appraisalbuzz.com

 

[Alsie35]

We will have two housing busts (2008) and one very soon, and the GSEs will still be using the Jurassic Park 1004.

Hey - Nobody but us old dinosaurs around here...its all good...the LAST thing I want is to deal with a new form ... they should have a "grandfather" clause to allow appraisers over 55 to keep using the old forms til we retire ...

 

[azbassman21]

Anytime you let the government get their hands on the development of anything meant to aid the private sector, it's neither cheap nor efficient and usually creates more complications. We're going on 16 years since an update and we STILL have to go shoot pictures of comparable sales in a day when you can enter a house address and get a birds eye photo of the property. Let someone with some brain power develop a more modern system that streamlines the process allowing appraisers to effectively develop reports an opinions without having the ancient form to have to fill out, then feed Fannie the data they need. This will be an *** pain from day one. Just wait until the appropriate section doesn't open, or you didn't check the right box to trigger a section to open. This oughta be good....

 

[glenn walker]

I will either be dead or that will be my last license renewal- Just paid $1,030.00 Yesterday for a 2 year renewal in the great State of California ; )

 

[Alsie35]

I will either be dead or that will be my last license renewal- Just paid $1,030.00 Yesterday for a 2 year renewal in the great State of California ; )

Do you know if California allows appraisers to go into "retired" status, where you would pay a small fee every year but not be raped every two years for a grand or more?

(Every single state bar allows that for their lawyers, for example) ....