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Each of our appraisal (or property inspection) report forms includes an appraiser's certification (and, if applicable, a supervisory appraiser's certification) and a statement of limiting conditions. Some forms include the limiting conditions and certifications as part of the form itself; others require the use of a separate document as an exhibit to the appraisal report.
| • | The Statement of Limiting Conditions and Appraiser's Certification (Form 1004B) must be included as an exhibit for appraisals prepared on the Uniform Residential Appraisal Report (Form 1004), the Small Residential Income Property Appraisal Report (Form 1025), the Individual Condominium Unit Appraisal Report (Form 1073), or the Individual Cooperative Interest Appraisal Report (Form 1075). Form 1004B includes ten limiting conditions and nine appraiser's certifications, as well as a supervisory appraiser's certification. To acknowledge that the current version of the Form 1004B was used and to assure the lender that the appraiser is certifying to our current definition of value, the appraiser must insert "06/93" in the blank that references "Freddie Mac Form 439/Fannie Mae Form 1004B (Revised _______________)" in the "Reconciliation" section of the applicable appraisal report form. |
| • | A Statement of Limiting Conditions and Appraiser's Certification is included as part of the form for appraisals prepared on the Desktop Underwriter Quantitative Analysis Appraisal Report (Form 2055), the Desktop Underwriter Qualitative Analysis Appraisal Report (Form 2065), and the Desktop Underwriter Individual Cooperative Interest Appraisal Report (Form 2095). Each of these appraisal forms includes nine contingent and limiting conditions and eleven appraiser's certifications, as well as a supervisory appraiser's certification. |
| • | A Statement of Limiting Conditions and Appraiser's Certification is included as part of the form for property inspections prepared on the Desktop Underwriter Property Inspection Report (Form 2075). Because this form is not used to express the appraiser's opinion of market value, it includes only a few contingent and limiting conditions, five appraiser's certifications, and the supervisory appraiser's certification. |
The appraiser may not make a change or a deletion to the appraiser's certifications, although he or she may make additional certifications on a separate page or form. Acceptable additional certifications might include those required by state law, those related to the appraiser's continuing education or membership in an appraisal organization, or those related to the appraiser's compliance with privacy laws and regulations in the development, reporting, and storage of an appraisal and the information on which it is based. (An appraiser may not add additional limiting conditions.) The lender is responsible for reviewing any additional certifications made by an appraiser to assure that they do not conflict with any of our policies or with the standard certifications on our various appraisal forms or Form 1004B.
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