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Uniform Appraisal Dataset (UAD) Frequently Asked Questions FAQs October 18, 2011 The following provides answers to questions frequently asked about Fannie Mae's and Freddie Mac's Uniform Appraisal.

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Fannie Mae form 1004 is the standard residential appraisal form used to assess property values for single-family homes. This form includes essential details such as property characteristics, comparisons with similar properties, and overall market conditions. Completing the 1004mc Schema Form alongside the 1004 form helps create a thorough picture of the housing market, ensuring accurate valuations.

Yes, the 1004MC is still required in many appraisal scenarios, especially when dealing with Fannie Mae loans. This form plays a vital role in documenting market conditions that can affect property values. By utilizing the 1004mc Schema Form, you can ensure compliance with lending standards while garnering insights into the local real estate market.

Fannie Mae form 1004MC is a specific version of the 1004MC form required for residential appraisal reports. This form helps appraisers present neighborhood trends and housing statistics that are relevant to the property's value. By completing the 1004mc Schema Form, appraisers ensure they provide standardized data that meets Fannie Mae's guidelines, which simplifies the appraisal process.

The 1004MC remains relevant and necessary in many appraisal scenarios. While some lenders may choose to waive this requirement, it is crucial for providing a complete picture of market conditions. Therefore, using the 1004mc Schema Form can safeguard against potential discrepancies, making it a wise choice for thorough and compliant appraisals.

The primary purpose of form 1004 is to provide a comprehensive appraisal of a property's value based on various factors, including market conditions. This form allows appraisers to evaluate properties for mortgage lending purposes, ensuring that all assessments align with current market trends. By leveraging the insights obtained from the 1004mc Schema Form, appraisers can deliver precise evaluations and support informed lending decisions.

A 1004MC form is a standardized appraisal addendum specifically designed to report market conditions related to a property being appraised. It collects and presents data on comparable properties and summarizes crucial trends that affect property values. Utilizing the 1004mc Schema Form allows appraisers to demonstrate their knowledge of the market, which is essential for accurate valuations and meeting lender requirements.

The 1004MC appraisal form, also known as the Market Conditions Addendum, is a document that appraisers use to summarize the market conditions affecting a property. It provides valuable data about the local housing market, including trends in sale prices, inventory levels, and days on the market. This information helps lenders and buyers make informed decisions while establishing property values. By using the 1004mc Schema Form, property professionals can accurately represent market conditions.

The 1004MC form requires appraisers to provide a detailed inventory analysis for three specified time periods. Statistical analysis and reporting of median sale, list price, days on market and list to sale price ratios for three specified time periods.

This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD).

Fannie Mae No Longer Requires Form 1004MC Additionally, some lenders, investors, and appraisal management companies (AMCs) may still require the inclusion of Form 1004MC to satisfy their own documentation guidelines.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232