Appraisal Documentation Requirements

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.