Revision to GSE Forms Coming?

Appraisal Forms Revision? What Will Appraisers Charge For More Pages?

Looking to revise appraisal forms… What will appraisers charge for more pages?


This notice was posted in the National Association of Mortgage Brokers e-newsletter on Dec. 28, 2017:

FHFA Looking to Revise Appraisal Forms
As one of its 2018 priorities, FHFA says in its 2018 Scorecard that it wants to “research, assess, and begin planning for appraisal process modernization, which could include revised appraisal forms and data requirements.”  Now that we have a 17-page loan application coming soon, does that mean a 6-page appraisal form is inadequate? What will appraisers charge for more pages?

This particular issue has been discussed for at least the past 5 years. The current GSE forms were last updated in 2005 – 12 years ago. The 1004MC Form was added in 2009 (making the total minimum # of pages 7, not 6), and then the UAD overlay was instituted in 2011.

If FHFA actually takes this on, wouldn’t it be nice if they included actual working appraisers (especially residential types) on the form re-design committee?!

This is the entry in the 2018 FHFA Scorecard. Note that the word “could” is used, not ‘will’:

Continue efforts to increase access to single-family mortgage credit for creditworthy borrowers, including underserved segments of the market:

  • Continue to identify opportunities to improve access to credit in a safe and sound manner, taking into consideration the changing circumstances and needs facing prospective borrower segments.
  • Assess the availability of low-balance loan financing and develop recommendations as appropriate.
  • Continue to support access to credit for borrowers with limited English proficiency, including by finalizing multiyear language access plans and beginning plan implementation.
  • Informed by request for input feedback, conclude the assessment of updated credit score models and, as appropriate, plan for implementation.
  • Research, assess, and begin planning for appraisal process modernization, which could include revised appraisal forms and data requirements.
  • Research and assess opportunities to further partnerships with housing finance agencies.
Dave Towne
Image credit flickr - Marcin Wichary
Dave Towne

Dave Towne

AGA, MNAA, Accredited Green Appraiser - Licensed in WA State since 2003. Dave Towne on

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18 Responses

  1. Avatar SoCalAppraiser says:

    Probably about as much as appraisers charged for the 1004MC. Free!!!

  2. Avatar e. j. b. says:

    Software cost will be going through the roof. Appraisal fees will remain the same as long as AMC’s continue to think they are running the show.. So sad :~(

    • Baggins Baggins says:

      Every time you send a link or refer others to this site, we take more control back.  The appraisal valuation industry belongs to appraisers, and nobody else.  Individual appraisal licensing for ALL appraisal order distribution workers.

  3. Avatar Koma says:

    Will they talk to actual working appraisers? IDK ask the ones who worked on UAD or maybe the 1004MC POS. hahaha We will find out a couple of months before it’s ready to roll out. That’s how things work these days. 

  4. Avatar Diana N. says:

    More work for less money, same old story. 

  5. Baggins Baggins says:

    Good lord, another update? Will every tech programmer on the planet please take a very very long vacation. If a person can not speak English, I’m happy with them not being able to use our tools or get equivalent access. The great 100 year American firesale is over.

  6. Revised fors AND data requirements. This could either be a huge boon (not likely); or a giant PITA! If the idiot mind set that created 1004MC continues to prevail, I can imagine us now having to include the regression analysis used to support all adjustments…whether we use it or not. The data-dingleberry set is simply not going to accept the limitations of so called big data.

  7. Avatar Diana N. says:

    They keep making retirement look better and better. 

  8. Avatar Pattie P. says:

    Rather than fix what is really wrong with the  industry let’s just monkey around with the forms again to make it look like we’re actually doing something. Heaven forbid that we actually get involved and stop the abusive practices, psychological and financial warfare that the independent fee appraisers have been dealing with for the past 10 years, the stealing of data and intellectual property by the GSE’S and AMC’s, and they bastardization of the appraisal process with these stupid hybrid appraisal ideas. Time for the FHFA step in and put a stop to this nonsense or relinquish control.

  9. Avatar e. j. b. says:

    I’m here to tell anyone who’ll listen, THERE IS NO BIG DATA IN RURAL S.E. GEORGIA, and I will not be buying any regression analysis tool for no good reason! I have not been making adjustments, except for site value and gross living area, and maybe for sales concessions, for however long ago the “prove your adjustments” down to the last dollar crap started.

  10. Ross Grannan on Facebook Ross Grannan on Facebook says:

    More meaningless fluff for underwriters to get hot and bothered

  11. Maybe if they design the new forms to be printed on continuous rolls of paper…say about 4 1/2 to 5 inches wide it would improve them. They could even sell them in pastel colors or other decorative motifs. Users could just tear them off wherever they feel they have enough. I think this could ‘bring it all together’. FNMA would then have a form ideally suited to the product that they are asking appraisers to produce.

  12. Avatar Koma says:

    Not to get off subject, but got another call from an AMC telling me in a round about way that they are having a hard time getting appraisers to perform desktops in my areas. Drum roll and hear it comes…..Would I like to join…cut them off stating don’t mean to be rude but we DO NOT perform desktop (useless form) appraisals. Have a nice day…click My experience is client sends out desktop and within 24 hrs a 2055 comes in on the same property for 5 times the fee of that desktop.  

  13. Avatar Caterina Platt says:

    Dave said: If FHFA actually takes this on, wouldn’t it be nice if they included actual working appraisers (especially residential types) on the form re-design committee?!

    I have been saying this for years, and have been scoffed at as though we appraisers thought so much of ourselves to be included in the process. ‘You serve a client’s purpose. It is their prerogative to design what they need from you.’ Really now? Forgive me for steppin’ outta line, Master. -_- The forms are part of our daily tools. Perhaps an appraiser can sit down with some of the non-appraisers at the GSEs and discuss some of the less useful portions of their forms and perhaps what is missing that should be included. For instance, the ‘Price per Room and Price per Bedroom’ silliness on the lower section of the sales grid on the 1025. How about the entirely convoluted way they have us filling out the Neighborhood and Market Trends on Page 1 considering the advent of the 1004MC? I actually have a color coded print out pinned to my office wall. Perhaps we could revamp a real market analysis form that would provide useful trending information and ditch the 1004MC altogether?

    Can we get rid of the ‘predominant’ value?


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Revision to GSE Forms Coming?

by Dave Towne time to read: 1 min