Uniform Residential Appraisal Report (URAR) FNMA 1004

• Most comprehensive collateral assessment product offered.
• Considers market value trends, supply and demand and marketing times
• Provides indicated value by cost approach (when requested)
• Provides a sales comparison analysis grid with indicated value by sales comparison approach
• Detailed comparable grid
• Quantitative adjustments to comparable sales
• Estimates a specific market value

Qualitative Analysis Appraisal Report FNMA 2055

Exterior/Interior
• Provides qualitative adjustments to comparables sales
• Estimates a specific value
• Increase efficiency and reduce costs (Exterior only)
• Detailed comparable grid
• Summary appraisal report documentation but includes extensive property information

Property Inspection Report FNMA 2075

• Exterior inspection of the subject property from the street
• Report consists of limited subject property and marketability factors.
• No estimate of market value.

Property Inspection Report FNMA 2070

• Summary appraisal report that conforms to USPAP requirements
• Reports general condition of the subject property and marketability factors
• Reports current market conditions of the neighborhood
• No estimate of market value

Qualitative Analysis Appraisal FNMA 2065

• Summary appraisal report that conforms to USPAP requirements
• Relies solely on sales comparison approach to value as an indicator of market value
• Eliminates cost and income approaches
• Provides a specified market value
• Qualitative adjustments to comparables

Multi-Family Appraisal FNMA 1025

• Small residential income property appraisal report for two-to four-family residences
• Provides neighborhood, site and improvement descriptions
• Provides general description of subject's exterior, foundation, basement and insulation
• Notes condition of improvements, depreciation, repairs needed and quality of construction.
• Estimates a specific market value via three approaches to value.

Condo Appraisal FNMA 1073

• Considers market value trends, supply and demand and marketing times
• Room count and actual square footage by GLA
• Notes condition of improvements, depreciation, repairs needed and quality of construction
• Project and phase information includes number of units, number of units for sale and number of units currently rented which allows assessment for any risk within the complex.
• Estimates a specific market value.

Proposed Construction and/or Plans/Specs Appraisal

• Used for new construction to review plans and specifications to determine an estimated market value
• Provides general description of subject property
• Calculates room count and actual square footage for GLA
• Notes condition of improvements, depreciation, repairs needed and quality of construction
• Provides sales comparison analysis grid with indicated value by sales comparison approach.

Certificate of Completion FNMA 442

• Update to a previous appraisal that was prepared subject to completion of repairs or incomplete items
• Notes items completed or still need to be completed since time of original appraisal
• Allows Lender to ascertain the current construction status of the subject property without incurring the cost of another appraisal.

Appraisal Update

• Update to previous appraisal on the subject property
• Indicates whether or not the original appraised value is still valid or has adjusted since the date of the original appraised value.
• Indicates any changes from the original appraisal including but not limited to construction, terms of sales agreement, previous assumptions, market value as noted above, etc…