August 15, 2018
As published on CoesterVMS, Effective August 7th 2018, Fannie Mae released an update stating the 1004MC form is no longer required.
The 1004MC form was introduced to standardize appraiser reporting and analysis of market conditions after the 2008 housing crisis. Though the form is no longer a Fannie Mae requirement, they’ve released the following note:
“Appraisers remain responsible for analyzing market conditions and accurately reporting them in the Neighborhood section of our appraisal forms.”