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New Market Conditions Addendum to the Appraisal Report 1004MC
April 10th, 2009 5:36 PM

There are new requirements for appraisers completing appraisals for clients who intend to sell their loans to Fannie Mae or Freddie Mac. 

It is called HVCC or the Home Valuation Code of Conduct.

The form 1040MC is designed for appraisers to comment on market conditions (MC) regarding the appraisal.  It is a requirement as of April 1, 2009.  Other portions of the HVCC requirements go into effect on May 1st, 2009. See a sample of the 1040MC by clicking the link below.

View - 1040MC - Market Conditions Addendum To The Appraisal Report

See a video from eFannieMae  by clicking this link on the 1040MC

See frequently asked questions on the HVCC

As of May 1, 2009 appraisers will be adding this 1004MC form to their appraisal reports for Fannie and Freddie reports.


Posted in:General
Posted by Britt J. Rosen, CCIM on April 10th, 2009 5:36 PMPost a Comment

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