Does the property need to be measured per ANSI measurement standards per Fannie Mae’s requirements?.Does the floor plan need to be verified?.What is the difference between a sketch and a floor plan?.
Won’t these types of valuations be risky for the lender?.Does the limited scope of work mitigate my liability?.Must I be competent in the subject’s market area?.What data sources are used for identifying the subject’s relevant characteristics?.Does USPAP require me to complete an inspection?.Updated CE course! Enroll in Best Practices for Bifurcated and Hybrid Appraisals-now updated with Fannie Mae’s and Freddie Mac’s guidelines on how to complete the 1004 Desktop/70D appraisal form.īelow, you’ll find answers to the following questions covering what you need to know about Fannie Mae and Freddie Mac desktop appraisals: Our goal here is to provide insight into Fannie Mae and Freddie Mac desktop appraisals so that you can make an informed decision regarding acceptance or rejection. McKissock does not endorse any position regarding whether appraisers should accept or reject desktop appraisal assignments. In various articles and opinion pieces, some claim that desktop appraisals will solve the appraiser shortage and modernize the appraisal process, while others claim that they will cause the demise of the appraisal profession. In January 2022, Fannie Mae and Freddie Mac announced a desktop appraisal option that goes live in mid-March 2022.
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