Zaio s technology assists appraisers in efficiently preparing the 1004 URAR
which represents the bulk of our business.
According to Mills, "Thousands of appraisers use the URAR
form for appraising houses.
used for appraisals for government-sponsored enterprises (GSEs) includes certification 11, which states, "I have knowledge and experience in appraising this type of property in this market area" GSEs do not allow a change to a URAR
certification if it contradicts their policies or standard certifications.
Broker price opinions (BP0s) were pure local market inputs, but at least they included exterior photos and cost about one-third of the price of a URAR
, so Wall Street loved them.
In March, Appraisal Institute staff met with Sam Rashkin, National Director for Energy Star Homes, to discuss an informational program on how appraisers can understand the Energy Star program and how energy-efficient features should be reflected on the latest URAR
form, which has a line for additional features such as energy-efficient items.
A licensed/certified appraiser can provide a CVR for less than the typical URAR
fee with a turn-around at less than half that of a traditional URAR
If a lender wanted to sell its mortgage loans to Fannie Mae or Freddie Mac, it must use the URAR
Distressed sales in a URAR
format are prone to reflect inappropriately low values as Fannie Mae guidelines state, "positive adjustments for sales or financing concessions are not acceptable" (20) Thus, credits for REO buyer concessions in a non-distressed appraisal, to compensate as-is, where-is sale terms, must be disguised or omitted.
While the primary focus of the seminar is directed at dealing with reporting of assignment results on the new Uniform Residential Appraisal Report, there is general information that will assist any appraiser in dealing with issues of liability found in other appraisal assignments that do not require the use of the URAR
It really more closely resembles a full-fledged URAR
, but without the interior inspection rather than an improved BPO.
Figure 1 shows an example of a description of green improvements on page one of a URAR
form was revised and released in November 2005.