1004MC or 1004 ANSI?
The 1004MC “market conditions” appraisal addendum was created by Fannie Mae and Freddie Mac to require a form-based market analysis. This added to the traditional practice to collect a handful of ‘comps’ to opine and foretell market price. There are problems and unintended consequences. The ANSI requirement is that residential appraisers measure houses according to […]