Welcome to the new 1004

[TerryRohrer]

The GSE's will allow you to "add to" the minimums of their certifications, but not "subtract from". So, I include this statement. Probably got it from George 20 years ago…

The Scope of Work for this assignment began with identifying the purpose, client, intended user(s) and the intended use of this appraisal report. The purpose of the appraisal is to offer an opinion of market value for the subject property as defined herein. The Intended User of this appraisal report is the Lender/Client(s) and HUD/FHA. The Intended Use is to support the underwriting requirements for an FHA insured mortgage only, subject to the stated Scope of Work, purpose of the appraisal, reporting requirements of this appraisal report form, and Definition of Market Value. No additional Intended Users are identified by the appraiser.

I took Sadie's comment to intend that if you were using the Freddie/FNMA form, regardless of who the client is or what the scope of work is, you can't modify the GSE form. As with your statement, most understand that in practice, you can modify any part of the pre-printed form to meet the assignment at hand.

 

[sputnam]

I took Sadie's comment to intend that if you were using the Freddie/FNMA form, regardless of who the client is or what the scope of work is, you can't modify the GSE form. As with your statement, most understand that in practice, you can modify any part of the pre-printed form to meet the assignment at hand.

Of course you can modify the form in any way you want to. Fannie says you aren't supposed to... and from what I've seen, they aren't coming after you if you do. You definitely aren't going to alter it is the appraisal you are reporting is for Fannie.

 

[Tom D]

Any comments to protect yourself should be in more than 1 place on the report, so that the reader can't say they didn't see it. Most of the report is protecting myself by explaining what i did or didn't do and why, or what you shouldn't expect from it. From 8 pages when i started, to over 30 now. Minutia works both ways.

 

[Fernando]

It's the dumbest form I ever seen. Terrible. What were they thinking!

 

[TerryRohrer]

Mandate: November 2, 2026 All lenders must use UAD 3.6 in the production environment. Revisions will be allowed for previously submitted appraisals that used UAD 2.6.

https://singlefamily.fanniemae.com/media/40731/display