Appraisers
To help make prudent underwriting decisions, mortgage lenders rely on appraisers to provide thorough, accurate, and objective appraisal reports for reliable opinions of market value.
The appraisal is used to judge the property’s acceptability for the mortgage loan requested in view of its value and marketability.
Impact of COVID-19 on Appraisals
We have issued temporary guidance on appraisal requirements, including allowing desktop and exterior-only appraisals on many mortgage transactions. The guidance is being updated as needed.
- Temporary guidance (Lender Letter LL-2020-04)
- FAQs
- Modified Set of Instructions, Scope of Work, Statement of Assumptions and Limiting Conditions, and Certification for Desktop Appraisals
- Modified Set of Instructions, Scope of Work, Statement of Assumptions and Limiting Conditions, and Certification for Appraisals with Exterior-only Inspection
- Appraisal Report Instructions for COVID-19 Flexibilities - View video
- Six Tips for Appraisers on Using COVID-19 Flexibilities - View video
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View Fannie Mae’s COVID-19 update page for additional information
Career Opportunities in Residential Property Appraising
Appraiser Careers
Fannie Mae is partnering with industry stakeholders to encourage new entrants to the residential appraisal field.
What's New
New Appraising Properties with Solar Panels Overview
Check out the new Appraising Properties with Solar Panels Overview on the Help & Training page, to see appraisal requirements for properties with solar panels, broken down by common types of ownership and debt financing.
New Forms 1004 Hybrid and 1004 Desktop
Click on the Help & Training link, above, to learn about and see examples from the new Forms 1004 Hybrid and 1004 Desktop. (These forms will only be used in small numbers for testing purposes.)
Newsletters
In the June 2020 edition, we share observations on the implementation of the COVID-19 appraisal flexibilities, highlight the new continuing education class on manufactured housing that we developed with McKissock, editorialize on distance to comparables, continue our series of questions from our mailbox, and more.
Contact Us
Use this form to share what’s on your mind, submit feedback, and ask questions about appraisal topics.
Contact Fannie Mae about Appraisal Topics
Event Opportunities - There are no new events. Check back later for future events.
AQM FAQ updates
Read the revised Appraiser Quality Monitoring (AQM) FAQs, which emphasize the learning opportunities the AQM letters present.
Read FAQsUAD Overview
Uniform Appraisal Dataset (UAD)
The UAD is a component of the Uniform Mortgage Data Program® (UMDP®), jointly established by Fannie Mae and Freddie Mac under the direction of the Federal Housing Finance Agency to provide common requirements for appraisal and loan delivery data.
