Form 1004MC no longer required
Effective immediately, Fannie Mae no longer requires the Market Conditions Addendum (1004MC) form as part of appraisal reports. The Selling Guide has been updated to reflect this change. Appraisers remain responsible for analyzing market conditions and accurately reporting them in the Neighborhood section of Fannie Mae's appraisal forms.
Collateral Underwriter® (CU®) now provides robust market trend information for Fannie Mae and lenders, enabling measurement and management of market risks in a more rigorous way. Removing the 1004MC requirement will make it easier for lenders to originate loans and easier for appraisers to complete assignments by simplifying the appraisal and appraisal review processes.
Please note that this is a change to Fannie Mae's requirements; other investors may still require submission of Form 1004MC. For details see Selling Guide Announcement SEL-2018-06.
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