“We’ve spilled all this ink uncoupling the comparable-specific 1004MC from the neighborhood/market area housing trends of the URAR, yet it seems it was all wasted,”
Lately, a lot of AMCs and Appraisers are commenting regarding a “clarification for the secondary market guidelines whereby trends that are reported on the Market Conditions Addendum (Form 1004MC) must be the same trends that are reported in the One-Unit Housing Trends (Neighborhood) section of the appraisal report” (stated by Tawfik Ahdab on an Appraiser blog”. This would mean that the information reported on both forms is consistent.
In the past, there has been great inconsistency with how this data is reported and collected, which has caused misunderstandings on reports. With constant updates and a continuous stream of standardizing efforts on all sides of the field – TrakLogix would like to hear from Appraisers, AMCs, and Lenders alike regarding this matter.