The 1004d form by Fannie Mae and 442 form by Freddie Mac is used to complete an appraisal update, final inspection, or in some circumstances, both for all one- to four-unit properties. The appraisal update portion of the 1004d and 442 is used to confirm the value of the subject property has not declined since the original effective date and is effectively considered a new appraisal assignment. If this form is used for an updated appraisal, the appraiser must complete the following:
If the 1004d or 442 form is used for a final inspection, it is only used for appraisals that were completed “subject to” parameters. In this case, the appraiser must disclose any improvements have been made in accordance with the conditions of the original appraisal.
The Pro Teck Difference
Pro Teck prides itself on providing a wide variety of appraisal solutions, which also includes appraisal updates and form 1004d and 442. With Pro Teck, you will get next level support by:
Pro Teck offers appraisal updates solutions as part of its suite of residential appraisal products. To learn more about Pro Teck’s appraisal management services, contact us today.
Pro Teck offer a full suite of valuation products and services. We don't favor one solution over another - we review your requirements, your risk tolerance and all regulatory considerations in order to recommend the best solution.