Appraisal Documentation Requirements
- Determined by AUS Findings. Property Inspection Waivers from DU or Appraisal Waivers from LPA are acceptable.
- Non-QM AUS transactions require a full appraisal regardless of the AUS findings.
- A full appraisal is required, regardless of AUS findings, if any of the following conditions exist, or when required by the Agency:
- Purchase transactions of REO properties and all purchases of properties whose most recent transaction was a foreclosure sale
- Apparent adverse physical deficiencies or conditions
- Apparent adverse environmental conditions
- The subject property does not conform to the neighborhood
- The appraisal must be dated within Agency or program requirements.