What is a form 1004C?
Fannie Mae Form 1004C March 2005. This report form is designed to report an appraisal of a one-unit manufactured home; including a manufactured home in a planned unit development (PUD).
Is there a 1004C UAD form?
This includes the four UAD appraisal report forms and four additional forms: Uniform Residential Report (Fannie Mae Form 1004) Manufactured Home Appraisal Report (Fannie Mae Form 1004C)
How do you tell if a home is modular or stick built?
MODULAR HOME – If the home is a modular built after 1971, it should have a tag called a “Factory Built Unit Certification” attached. This certifies that it has been built to the requirements of the Universal Building Code (UBC), which is the same requirement of stick-built homes.
What is a 1004MC appraisal?
The Form 1004MC is intended to provide the lender with a clear and accurate understanding of the market trends and conditions prevalent in the subject neighborhood. The form provides the appraiser with a structured format to report the data and to more easily identify current market trends and conditions.
What is UAD format?
The Uniform Appraisal Dataset (UAD) defines all fields required for an appraisal submission for specific appraisal forms and standardizes definitions and responses for a key subset of fields.
What is a Form 1007 or Form 1025?
Description: The Single Family Comparable Rent Schedule Form 1007 is intended to provide an appraiser with a familiar format to estimate the market rent of a property. Adjustments should be made only for those items of significant difference between the comparables and the subject property.
What is a 1025 with 216 appraisal?
Conventional 1025 Triplex with 216 Operating Income Statement. This counterpart to the 1004 form is used when appraising 2-4 family properties (multi-family).
Is there a UAD form for manufactured homes?
Yes. The new UAD will cover all residential property types, including: Single-Family, Condominium, Cooperative, Manufactured Home, and 2- to 4-Unit.
What appraisal forms are UAD compliant?
UAD Compliance Information
- Uniform Residential Appraisal Report (Fannie Mae Form 1004/Freddie Mac Form 70)
- Individual Condominium Unit Appraisal Report (Fannie Mae Form 1073/Freddie Mac Form 465)
- Exterior-Only Inspection Individual Condominium Unit Appraisal Report (Fannie Mae Form 1075/Freddie Mac Form 466)
Is 1004MC still required?
Fannie Mae No Longer Requires Form 1004MC Appraisers remain responsible for researching, analyzing, and reporting market conditions.
Does FHA still require the 1004MC?
HUD/FHA and VA still require use of the 1004MC, although they could remove this requirement at any time. Some individual lenders may still require the use of the 1004MC, even though Fannie Mae might not. Lenders are permitted to establish additional requirements that exceed GSE requirements (these are called overlays).
What is UAD report?
The UAD standardizes certain data points to support consistent appraisal reporting. Regardless of geographic location of the property or any localized reporting conventions, the UAD standardization includes: ▪ Standardized formats for fields that include dates, values, etc.
What is a 1st generation appraisal?
What is a “first-generation PDF”? For the purposes of the UAD, a first-generation PDF is a PDF file of the appraisal report that is produced and embedded within the XML by the appraiser’s forms software before the appraisal is transmitted by the appraiser.