URAR Form Ambiguities and Liabilities
Revisiting The Fannie Mae/Freddie Mac 2005 URAR Form Ambiguities and Liabilities It has been eight years since the URAR form was revised. From 2005 to mid-2008, the real estate market experienced a boom and a bust the likes of which we have never seen before, and we are finally seeing a slow recovery. Also during this period, the economic recession and poor lending practices lead to new regulations in both the appraisal and banking industries. Based on the new regulations, Fannie Mae/Freddie Mac mandated appraisers to add more information to the URAR form. As of March 2009, the Market Conditions...