Transcription of Chapter B4-1, Appraisal Requirements
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Chapter B4-1, Appraisal Requirements
Part B, Origination Through ClosingSubpart B4, Underwriting PropertyChapter B4-1, Appraisal RequirementsSection , Nontraditional Credit History10/07/2020527 Chapter B4-1, Appraisal RequirementsAppraisal RequirementsIntroductionThis Chapter explains Fannie Mae s Appraisal Requirements and This ChapterThis Chapter contains the following sections:Section , General Appraisal Requirements ..528 Section , Documentation Standards ..541 Section , Appraisal report Assessment..552 Section , Special Appraisal and Other Valuation Considerations..590 Part B, Origination Through ClosingSubpart B4, Underwriting PropertyChapter B4-1, Appraisal RequirementsSection , General Appraisal Requirements10/07/2020528 Section , General Appraisal , Definition of Market Value (04/15/2014)IntroductionThis topic contains information on the definition of market of Market ValueMarket value is the most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus.
appraisal report. The lender and the appraiser must ensure that the integrity of the loan decision is not influenced by sub-jective, racial, or stereotypical terms, phrases or comments in the appraisal report. Prohibited practices include:
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