fannie mae

Who Owns Data?

Who Owns the Data? By David Brauner, Editor Here’s a riddle: what do the following have in common: copyrighting appraisals, the Intended User/Intended Use provision in USPAP, Item 21 on the Fannie Mae form, data mining and the FNC lawsuit, automated appraisals (AMVs), and perhaps, the future of appraising? Apparently, they have everything in common.… Read More

Fannie’s New Forms: Something to Talk About

Fannie’s New Forms: Something To Talk About The latest version of the new Fannie Forms are set to go into use soon. These forms for appraising single-family residential and small income-producing properties have some very disturbing and questionable requirements within the certification pages. One of the biggest concerns for appraisers is items #21. If you… Read More

Risks of Changing Intended User Statements

Editor’s Note: Here is a question (and answer), concerning the proper intended user statement when the form and intended use conflict with one another. Scope of Work: Q&A by David Braun, MAI, SRA Risks of Changing Intended User Statements (Question from Howard Goheen, Phoenix Appraisal Service) “Dear David (Braun)…We’ve worked hard to get up to… Read More

Diversify and Conquer: Appraising and Inspecting

Editor’s Note: In a recent Q&A, Fannie Mae’s Mark Simpson, Director Property Standards, Single-Family Credit, makes clear that the word “inspection” on the new forms is Fannie’s clear intent and will not be changed- despite concerns that it can mislead homeowners into thinking they are getting a home inspection rather than an appraisal, and rumblings… Read More

New Niche: Understanding Replacement Cost

Editor’s Note: At a recent conference, Fannie Mae’s Mark Simpson, Director Property Standards, Single-Family Credit, shared how insurance industry changes offer appraisers a new opportunity to provide lenders with an additional service: replacement cost data. The data is used to determine an appropriate level of hazard insurance for Fannie loans. Fannie requires hazard insurance that… Read More