Appraisal Requirements

A Market Conditions Addendum (Fannie Mae Form 1004MC/Freddie Mac Form 71) is required for all loans delivered with appraisals of one to four unit properties. It must be included with appraisal Form...

With every appraisal report submitted to PennyMac, the Correspondent certifies:

Correspondents must carefully review appraisals to ensure that the value is supported. A field review may be required if the underwriter feels that the market value may be overstated. In order to i...