Appraiser CooperativeAlternative To Appraisal Management Companies
Fannie Mae Requirements & Announcements
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a stockholder-owned corporation chartered by Congress in 1968 as a government-sponsored enterprise (GSE), but founded in 1938 during the Great Depression. The corporation's purpose is to purchase and securitize mortgages in order to ensure that funds are consistently available to the institutions that lend money to home buyers.
Home Valuation Code of Conduct
In March 2008, Fannie Mae entered into an agreement with our regulator—the Federal Housing Finance Agency (then the Office of Federal Housing Enterprise Oversight)—and the New York Attorney General's office to adopt certain policies relating to appraisals for loans delivered to us. Following a public comment period, the Home Valuation Code of Conduct has been modified and will be effective for single-family mortgage loans (except government-insured loans) that are originated on or after May 1, 2009, and delivered to Fannie Mae. Click here to view Fannie Mae's Announcement 09-01.
To view Fannie Mae's list of frequently asked questions about the Home Valuation Code of Conduct, Click Here.
To view Fannie Mae's recorded training on the Market Conditions Addendum (Form 1004MC) section by section, Click Here
Single Family Appraisal Guidance
Fannie Mae provides guidance to lenders and appraisers to supplement the policy requirements in the Fannie Mae Selling Guide for performing and underwriting the property appraisal securing mortgages delivered to Fannie Mae. To view a copy of the Appraisal Guidence, Click Here.
MH Select
Fannie Mae's MH Select Initiative offers financing flexibility for high-quality manufactured housing for which manufacturers and dealer/retailers commit to specific design and service standards. To view the MH Select Appraiser Guidelines, Click Here.
To view the MH Select Design and Aesthetic Characteristics, Click Here.