What Form?

[Terrel L. Shields]

Many local appraiser say using the 1004 UAD /MC form is not deemed appropriate by the State Appraisal Board and Attorney General.

As long as the 1004 has additional verbiage to make it USPAP compliant, I can't see why it can't be used by banks

I am with Randolph. I see no reason not to use the 1004 if that is what you like. The bank does not care. The regulators don't care and the board shouldn't. But If you like a general purpose form or what some call the "non-lender" form (the "old" 1004 basically) then use that. I never had a bank client ask for the 1004MC except for secondary market. Personally, I use a narrative on everything. I have a bank narrative with a basic FIRREA based MV definition and the "5 points" disclosure. I have a template with the IRS definition and a place for the IRS disclosure as required.