Wednesday, August 1, 2018

Fannie Mae to Drop 1004MC Form Requirement

Since the 1004MC form came out I have held it produces misleading information the significant majority of the time. I am happy to hear Fannie Mae has finally seen the light.

The form develops market trends and statistics to allow the reviewer and appraiser to understand market conditions better. However, there is seldom, if ever, enough data because it relies on a narrow group of similar properties. It has also been redundant if the appraiser is completing the existing Market Conditions section correctly. 

Brian A. Ward
Certified Residential Real Estate Appraiser
(619) 630-9273