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Summary Appraisal Report URAL APPRAISAL DESK REVIEW FNMA/FILM SINGLE FAMILY COMPLIANCE Loan Number Lender Borrower/Client Property Address City Appraiser's Address County State Phone Zip Code SUBJECT

How to fill out urar appraisal desk review

How to fill out URAR appraisal desk review:

1. Start by gathering all necessary documentation related to the appraisal, such as the appraisal report, any supporting documents or files, and any additional information provided by the client or lender.
2. Begin by reviewing the appraisal report and ensuring that all information is accurate and complete. Verify that all required sections have been filled out appropriately, including the subject property details, comparable sales, adjustments made, and the appraiser's final opinion of value.
3. Take note of any discrepancies or errors in the appraisal report. If there are any missing or incomplete sections, consult with the appraiser or the client for clarification or additional information.
4. Evaluate the comparables used in the appraisal report. Check if they are appropriate and comparable to the subject property. Consider factors such as location, size, condition, amenities, and proximity to the subject property.
5. Verify the accuracy of the adjustments made by the appraiser. Examine the adjustments for each comparable property to ensure they are reasonable and supported by market data. Look for any inconsistencies or discrepancies in the adjustments made by the appraiser.
6. Compare the appraiser's final opinion of value with your own analysis. Consider any additional data or market information that may impact the value of the subject property. If there is a significant discrepancy between the appraiser's value and what you believe to be the accurate value, discuss this with the appraiser or the client.
7. Once you have reviewed and verified all the information in the appraisal report, make any necessary corrections or updates. Ensure that all changes are properly documented and communicated to the appraiser and client if required.
8. When all the necessary adjustments and corrections have been made, review the entire appraisal desk review to ensure that it is accurate, comprehensive, and meets the requirements of the lender or client.

Who needs URAR appraisal desk review:

1. Lenders: Lenders typically require an URAR (Uniform Residential Appraisal Report) desk review to ensure the accuracy and reliability of the appraisal report before approving a mortgage or loan. This provides them with an additional layer of protection and helps them make informed lending decisions.
2. Appraisal Management Companies: AMCs may also request URAR appraisal desk reviews to ensure that the appraisal reports they receive meet their quality standards and comply with industry regulations. This helps them maintain their reputation and relationships with lenders and clients.
3. Regulatory Agencies: Regulatory agencies, such as the Office of the Comptroller of the Currency (OCC) or the Federal Housing Administration (FHA), may perform URAR appraisal desk reviews as part of their oversight and enforcement activities to ensure compliance with appraisal standards and regulations.

In conclusion, a URAR appraisal desk review is necessary for lenders, appraisal management companies, and regulatory agencies to ensure the accuracy, completeness, and compliance of appraisal reports. By following the step-by-step process of reviewing and verifying the appraisal report, you can ensure that the final report is reliable and meets all necessary requirements.

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What is urar appraisal desk review?

Urar appraisal desk review is a process where a licensed appraiser reviews a Uniform Residential Appraisal Report (URAR) to ensure compliance with industry standards and accuracy of the report.

Who is required to file urar appraisal desk review?

Lending institutions, appraisal management companies, or other parties involved in the mortgage process may require the filing of a URAR appraisal desk review.

How to fill out urar appraisal desk review?

To fill out a URAR appraisal desk review, a licensed appraiser must carefully review the original appraisal report, compare it with relevant guidelines, and provide feedback or corrections as needed.

What is the purpose of urar appraisal desk review?

The purpose of a URAR appraisal desk review is to ensure the accuracy, reliability, and compliance of the original appraisal report, reducing the risk of errors or discrepancies in the valuation process.

What information must be reported on urar appraisal desk review?

A URAR appraisal desk review must include detailed comments, corrections, and recommendations based on a thorough analysis of the original appraisal report.