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[Steer]

Hey all,

Can an exterior only retrospective appraisal be completed on the old 1004 form? I have the previous page # 1 and sketch only of the original appraisal. Any other info would be from town records; sketchy at best in this rural area.

I have an appointment for tomorrow on this, and lender says that it HAS to be done on this form?

Any advise?

BYW...The lender said they understand that the report can say exterior only all over it.

 

[Mountain Man]

Sure, if you use your own SOW and certification rather than the pre-printed form. If they are expecting the pre-printed form, I'd decline.

 

[Steer]

Thanks M.

So if I use the 2 pages of the URAR and my own SOW, would that suffice in your opinion?

Seems unusual to me...I have never had a lender be less bendable than these guys.
I tried to explain the old Fannie mae 2055 seemed to be a better fit.....

 

[Webbed Feet]

Thanks M.

So if I use the 2 pages of the URAR and my own SOW, would that suffice in your opinion?

Seems unusual to me...I have never had a lender be less bendable than these guys.
I tried to explain the old Fannie mae 2055 seemed to be a better fit.....

Steer,

There are traps staring you in the face if you fail to very carefully read everything. If you do NOT have Clickforms with FreeForm Text, or cannot hand redact preprinted language, or know how to do so using a third party program I encourage you to decline the assignment.

Note the "Reconciliation" section statement that says your certifications come from the attached Freddie Mac / Fannie Mae Form 1004B Revised on................."

You must be able to alter that or alter the 1004B certifications. Do NOT send out a report that says one thing on one page and something different in your addendum!

Next, you can't take this assignment without clarifying needed EA's IN YOUR ENGAGEMENT CONTRACT so you can show a paper trail this client agreed to their use and what they say. I would expect several of them to be needed.

Webbed.

 

[Steer]

Thanks again,

I told the lender that I could not complete the report on the URAR based on the certifications pages. Typical respone was "all the other appraisers do it"

Oh well, it's only money. Feels better to do the right thing

 

[Mike Boyd]

Why not use the old 2055? Seems like it would be more appropriate.

 

[Webbed Feet]

Steer,

I am sorry you don't have a software method to redact out offending contradictory language preprinted on forms. Perhaps someone here has a suggestion about that. Maybe a full version of Adobe or third party software can be used. You should check into that. ClickForms has "FreeForm Text" that could be used to redact (cover up) the preprinted language causing the issues. I hope you find something you can use for that. We all need it these days.

Webbed.

 

[Steer]

Thanks again for all of the replies. I will look into clickforms; great idea.

Mike, I suggested the old Fannie Mae 2055, I think I have completed 1,000 of these, and they said absolutely not. Their client has requested the URAR only!!

I couldn't get the lady to understand, so I gave up.

 

[Michigan CG]

Steer guy,

You can do it if they will accept a PDF. Fill it out on the form they want without the certifications by using snag-it.

www.snagit.com

 

[Steer]

Thanks Tim. I will look into that.
And congradulations to you!