URAR Appraisal Desk Review 2002 free printable template

Page #1 URAL APPRAISAL DESK REVIEW FNMA/FILM SINGLE FAMILY COMPLIANCE Lender Borrower/Client Property Address City Appraiser's Address Loan Number County State Phone Zip Code This URAL Appraisal Desk

How to fill out URAR Appraisal Desk Review

How to fill out URAR Appraisal Desk Review

1. Obtain the URAR form and any related documentation.
2. Review the property information detailed on the URAR.
3. Check for completeness of sections such as property description, comparable sales, and adjustments.
4. Evaluate the appraiser’s methods used for deriving value.
5. Inspect the comparables chosen for relevance and appropriateness.
6. Ensure the market data used reflects recent and relevant sales.
7. Assess any adjustments made in terms of accuracy and justification.
8. Review the final value conclusion for reasonableness based on provided data.
9. Document any discrepancies or concerns with explanations.
10. Compile the review findings and prepare a summary report.

Who needs URAR Appraisal Desk Review?

1. Lenders who require validation of property appraisals.
2. Underwriters who are assessing risk associated with loans.
3. Investors interested in ensuring accurate property valuations.
4. Regulatory bodies needing to ensure compliance in appraisal processes.
5. Real estate agents and brokers who want to understand the appraisal quality.

People Also Ask about

What does desk review mean for appraisal?

There is no additional cost to the buyer for an appraisal review. A “desk review” requires an additional review by someone other than the underwriter. This could be another underwriter, a manager, or even an internal appraiser that's on the lender's staff. Every mortgage company will have their own procedures.

How long is an appraisal in review?

Appraisals generally take 1 to 2 weeks, but can take as long as 4 weeks in a busy real estate market. The biggest reason for appraisal delays is lack of appraiser availability. The number of available appraisers is declining 3% each year.

What is the difference between a desktop appraisal and a full appraisal?

A desktop valuation is a great tool for homes that are in average condition. Full appraisal evaluations are recommended for homes that are in poor or highly upgraded condition. Full appraisals are also recommended for tax appeal cases and divorce in which someone might be disputing the value.

How long does a desk appraisal review take?

Traditional appraisals can take two days to a week to complete, between scheduling an inspection, completing the walkthrough, reviewing comparable homes, and compiling the report. By eliminating the scheduling and on-site requirements, appraisers can complete desktop appraisals in as little as a day or mere minutes.

What appraisal form is a desk review?

Form 1033 reports results of a desk review for a Mortgage secured by a 1-unit property originated using an appraisal report.

Who completes a desk review appraisal?

A desktop appraisal is a property valuation that is completed at the appraiser's desk, using tax records and information listed on the Multiple Listing Service (MLS), instead of through an in-person survey of the property.

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What is URAR Appraisal Desk Review?

The URAR Appraisal Desk Review is an evaluation of an appraisal report to ensure accuracy, compliance with relevant guidelines, and overall reliability of the document.

Who is required to file URAR Appraisal Desk Review?

Typically, lenders, underwriters, or appraisal management companies are required to file a URAR Appraisal Desk Review to validate the appraisal process.

How to fill out URAR Appraisal Desk Review?

To fill out the URAR Appraisal Desk Review, one must review the original appraisal report for key elements, complete the review form by entering necessary information such as property details, appraiser qualifications, and any discrepancies from guidelines or standards.

What is the purpose of URAR Appraisal Desk Review?

The purpose of the URAR Appraisal Desk Review is to verify that the appraisal has been conducted properly, ensuring that the property's value is accurately represented, and to identify any potential issues that might impact the lending decision.

What information must be reported on URAR Appraisal Desk Review?

Information required on the URAR Appraisal Desk Review includes the appraiser's qualifications, property details, market analysis, adjustments made, methodologies used, and any identified errors or concerns with the original appraisal report.