Form Reports:

• Fannie Mae 2000 (Freddie Mac 1032): One-Unit Residential Appraisal Field Review Report is the most commonly requested type of report for quality control and compliance for single-unit properties.
• Fannie Mae 2000A (Freddie Mac 1072): Two-to-Four Unit Residential Field Review Form is used for small residential income properties.
• Forms for other property types are more numerous and less standardized than residential forms. Some client groups have developed their own forms to meet their specific needs.
• Software providers offer a variety of residential and commercial review forms for various types of appraisal reviews.
• All forms should be checked for USPAP compliance and supplemented when necessary.

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Checklists:

• Customized checklist is used as per client/lender to meet their requirements.

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Narrative Reports:

• Reviewer generally creates his or her own format, although there are some software providers who offer narrative report formats.
• Content must comply with appropriate USPAP Standards.
• Narrative reports must meet the needs of the client and any other intended users.

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Having a team of trained reviewers, we can provide a thorough review of any residential report and deliver it to the lender or resend it to the appraisers for corrections (if not in compliance with the client’s requirements). Apart from reviewing appraisal reports in compliance with UAD, the team is also knowledgeable about UCDP (Uniform Collateral Data Portal).