Fannie Mae Article Collection

Q&A: Fannie Mae and the Cost Approach

Q&A: Fannie Mae and the Cost Approach

We often receive questions from appraisers regarding Fannie Mae and the cost approach. For example: “I’m appraising a property and have been instructed to comply with Fannie Mae guidelines. I understand that Fannie Mae requires the sales comparison approach, but what if there aren’t…

Fannie Mae Issues Guidance for Rural Appraisers

Fannie Mae Issues Guidance for Rural Appraisers

Earlier this week, Fannie Mae issued a new edition of its Appraiser Update e-newsletter; this edition was titled Special Edition for Rural Appraisal. The newsletter covers several topics of interest to rural appraisers, including a summary of recent changes to Fannie Mae’s policies, information…

How to Avoid UAD Hard Stops

How to Avoid UAD Hard Stops

Hard stops are data “errors” that cannot be overridden by the lender. When the UAD and the UMDP were first implemented, lenders were allowed to override errors that would pop up when they did their check of the report. Eventually, Fannie Mae and Freddie…

Fannie Mae Freddie Mac 1094 selling guide

Freddie Mac Officially Eliminates 1004MC Requirement

On August 29, Freddie Mac released Bulletin 2018-13 which officially confirmed what almost everyone had already suspected—they are following Fannie Mae’s lead in eliminating the requirement for appraisers to include the 1004MC (Freddie Mac Form 71) as an attachment to appraisal reports.   In…

Fannie Mae Guidelines vs. Requirements

Fannie Mae Guidelines vs. Requirements

The Fannie Mae Selling Guide is a comprehensive guide for lenders who sell loans to Fannie Mae. Although the Guide is targeted toward lenders, it also contains information that applies to appraisers. After all, the appraisal is an important part of the loan documentation.…

Fannie Mae Freddie Mac 1094 selling guide

Fannie Mae to Drop 1004MC Requirement

At an industry conference on July 29, 2018, a Fannie Mae spokesperson announced that Fannie would be making revisions to its Selling Guide, effective in August 2018. Perhaps the most significant planned revision will be the elimination of the requirement for appraisers to include…

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