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Does Freddie Mac require the 1004MC?

Will there be a 1004MC? No, there will not be a 1004MC (Market Conditions Addendum).

Is the 1004MC no longer required?

ing to the announcement, the revisions included enhancements and revisions to existing guidelines and various technical edits. The most docHub of these revisions was the elimination of the requirement to include the 1004MC form as an attachment to the appraisal report.

Is 1004MC required for VA?

Market Conditions Addendum to VA Appraisal The purpose of this Circular is to announce that the Department of Veterans Affairs (VA) no longer requires appraisers to include Fannie Mae Form 1004MC, in all VA appraisal reports.

What are the appraisal requirements for Fannie Mae?

Fannie Mae permits an appraisal to be based on the as-is condition of the property as long as any minor conditions, such as deferred maintenance, do not affect the safety, soundness, or structural integrity of the property, and the appraisers opinion of value reflects the existence of these conditions.

What is 1004MC form type used for?

The Market Conditions Addendum (Form 1004MC) is designed to enhance the transparency of the market trends and conditions conclusions made by the appraiser.

market appraisal report

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Does fhlmc require 1004MC?

No, there will not be a 1004MC (Market Conditions Addendum). There will be a market section in the new URAR that enables appraisers to expand on the market conditions.

Does Fannie Mae require 1004MC?

Fannies abolishment of the Market Conditions Addendum has lifted the requirement for Form 1004MC from their underwriter programs.

What is a 1004MC report?

The Market Conditions Addendum (Form 1004MC) is designed to enhance the transparency of the market trends and conditions conclusions made by the appraiser.

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