Uniform Residential Appraisal Report


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Uniform Residential Appraisal Report (URAR)

A standard form for reporting the value of a residence, required by most major lenders and secondary market purchasers in order to simplify the underwriting and review process.

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See Fannie Mae/Freddie Mac Uniform Residential Appraisal Report certifications.
For more information about The Professional's Guide to the Uniform Residential Appraisal Report and other Appraisal Institute educational offerings, visit http://www.
The book, Using Residential Appraisal Report Forms: URAR 2005 (Form 1004) and Exterior Inspection (Form 2055), by Mark Ratterman, MAI, SRA, addresses the reasons for the changes to the forms and their ramifications and provides up-to-date, relevant instruction on completing both the Uniform Residential Appraisal Report (Form 1004) and Exterior-Only Inspection Residential Appraisal Report (Form 2055).
Since the advent of the Uniform Residential Appraisal Report 20 years ago, residential appraisers have used it not only for mortgage lending purposes but also for a variety of residential appraisal assignments.
With the new Uniform Residential Appraisal Report (Form 1004), and with nearly every other Fannie Mae residential mortgage appraisal form, residential appraisers are now seeing that the new forms are really not designed for other uses.
Brokers can substitute automated property valuation for a Uniform Residential Appraisal Report (URAR) on qualified purchase loans, satisfying collateral valuation requirements in minutes and at a fraction of the price of a full appraisal.
The instant property valuation it provides helps mortgage professionals decide if it is worth moving ahead with a more expensive uniform residential appraisal report.
Addressing concerns of appraisers over the "intended user" elements of its latest Uniform Residential Appraisal Report, Fannie Mae has issued a clarifying statement, based in part on input received from the Appraisal Institute.
Test Form Name 1004 Uniform Residential Appraisal Report (URAR) 1004C Manufactured Home Appraisal Report 1004D Appraisal Update and/or Completion Report 1025 Small Residential Income Property Appraisal Report (SRIP) 1073 Individual Condominium Unit Appraisal Report 1075 Exterior-Only Inspection Individual Condominium Unit Appraisal Report 2000 One-Unit Residential Appraisal Field Review Report 2000A Two- to Four-Unit Residential Appraisal Field Review Report 2055 Exterior-Only Inspection Residential Appraisal Report 2090 Individual Cooperative Interest Appraisal Report 2095 Exterior-Only Inspection Individual Cooperative Interest Appraisal Report Test Form No.
The Professional's Guide to the Uniform Residential Appraisal Report will be offered nationwide throughout the fall.
As the responses indicate, the Uniform Residential Appraisal Report (URAR) constitutes the majority of the report-type production for both segments of the residential appraiser population.

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