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ANSI FAQ

BACKGROUND: On December, 15, 2021, Fannie Mae published an announcement titled “Standardized Property Measuring Guidelines” - Updated guidance, which stated -  Appraisers will be required to use the Square Footage-Method for Calculating: ANSI® Z765-2021 (American National Standards Institute®) Measuring Standard for measuring, calculating, and reporting Gross Living Area (GLA) and non-GLA areas of subject properties for appraisals requiring interior and...

FANNIE MAE & FREDDIE MAC RELEASED THEIR GUIDELINES FOR THEIR NEW DESKTOP APPRAISAL PROGRAMS

INCLUDING BOTH APPRAISER AND LENDER RESPONSIBILITIES WHAT SHOULD YOU KEEP IN MIND AS AN APPRAISER? BASIC ELIGIBILITY AS OUTLINED BY FANNIE MAE: Purchase Transactions One-unit properties Primary Residence LTV less than or equal to 90% DU Approve/Eligible Recommendation WHAT FORM DO YOU USE? Desktop Appraisals will use form 1004/70D Desktop ADDITIONAL CONSIDERATIONS: There will be instances where it is not appropriate...

Condo Site Condo Town House

Condo Site Condo Town House