One-Unit Residential Appraisal Desk Review Report

Submit the completed One-Unit Residential Appraisal Desk Review Report as directed by your lender or client. You can submit via email, fax, or an online submission form. Ensure all sections are filled out accurately and signed before submission. For email submission, send the completed form to the provided email address. For fax submission, use the number provided by your lender or client. If there is an online submission portal, follow the instructions given to upload and submit your report. Advice: Double-check all information and signatures before submission to avoid any delays.

The purpose of the One-Unit Residential Appraisal Desk Review Report is to provide a comprehensive evaluation of an appraisal report to ensure its accuracy and completeness. This review process helps lenders and clients make informed decisions regarding property appraisals and loan underwriting. By thoroughly examining the appraisal report, identifying any errors or discrepancies, and providing a well-supported opinion of market value, this form contributes to maintaining the integrity of the appraisal process. The form is divided into two main sections: Section I, which is completed for all assignments, and Section II, which is completed only if the review appraiser disagrees with the opinion of the market value stated in the appraisal report. Each section has specific questions and areas to fill out, ensuring that all aspects of the appraisal report are thoroughly reviewed. Using this form allows for a structured and standardized approach to appraisal reviews, ensuring compliance with regulatory standards and providing a reliable basis for property valuation.

• 1. Property Address: The address of the property being appraised.
• 2. City: The city where the property is located.
• 3. State: The state where the property is located.
• 4. Borrower: The individual or entity borrowing funds for the property.
• 5. Owner of Public Record: The officially recorded owner of the property.
• 6. County: The county where the property is located.
• 7. Legal Description: The legal description of the property.
• 8. Assessor's Parcel #: The unique identifier assigned to the property by the assessor.
• 9. Map Reference: The map reference for the property location.
• 10. Census Tract: The census tract number for the property location.
• 11. Property Rights Appraised: The rights appraised, such as fee simple or leasehold.
• 12. Project Type: The type of project, such as condo or PUD.
• 13. Loan #: The loan number associated with the property.
• 14. Effective Date of Appraisal Under Review: The date the appraisal report under review was effective.
• 15. Lender/Client: The lender or client requesting the appraisal review.
• 16. Address: The address of the lender or client.
• 17. Zip Code: The zip code of the lender or client's address.
• 18. PUD: Indicates whether the property is part of a Planned Unit Development.
• 19. Cooperative: Indicates whether the property is a cooperative.
• 20. Manufactured Home: Indicates whether the property is a manufactured home.
• 21. Section I: Evaluation questions related to the appraisal report's accuracy in various sections.
• 22. Section II: Detailed reasoning and new opinion of value if there is disagreement with the appraisal report.
• 23. Sales Comparison Analysis Grid: Section for analyzing and comparing sales data.
• 24. Extraordinary Assumptions: List of assumptions made during the review process.
• 25. Review Appraiser's Opinion of Market Value: The review appraiser's final opinion of the property's market value.
• 26. Scope of Work: The scope and limitations of the desk review process.
• 27. Intended Use: The intended use of the appraisal desk review report.
• 28. Intended User: The intended user of the appraisal desk review report.
• 29. Guidelines for Completing the Review: Guidelines to help the review appraiser complete the report accurately.

Failing to submit the One-Unit Residential Appraisal Desk Review Report can result in several issues.

• Delayed Loan Processing: Loan processing may be delayed due to incomplete appraisal review.
• Inaccurate Appraisal: The lender/client may not have an accurate appraisal report, leading to potential financial risks.
• Compliance Issues: Non-submission could result in non-compliance with regulatory standards.

• 1. Lender Evaluation: When lenders need to evaluate the accuracy of an appraisal report.
• 2. Quality Assurance: For ensuring the appraisal report meets quality standards.
• 3. Dispute Resolution: When there are disagreements on the appraised value of a property.
• 4. Regulatory Compliance: To ensure compliance with appraisal standards and regulations.
• 5. Independent Review: For conducting an independent review of an appraisal report.