Non-Agency Updates
We're right here making it easier to do business by enhancing our Non-Agency program. For complete details and effective dates, review CB16-44 Overlay Removals and Matrix Updates.
Accessory Dwelling Unit (ADU)
Appraiser must provide a description of the ADU and analyze any effect it has on the value or marketability of the subject property
Building Sketch
An exterior building sketch that indicates dimensions and calculations that demonstrate how the gross living area is derived
For a unit in a condo or co-op project, the sketch of the unit must indicate interior perimeter unit dimensions rather than exterior building dimensions (dimensions and estimates for gross living area show in the condo documents are acceptable)
Mixed Use
Appraiser must provide the following when appraising a mixed-use property:
- Detailed description of the mixed-use characteristics of the subject property
- Indicate that the mixed-use of the property is a legal, permissible use of the property under the local zoning requirements
- Report any adverse impact on marketability and market resistance to the commercial use of the property
- Report the market value of the property based on the residential characteristics, rather than of the business use or any special business-use modifications that were made
Verbal VOE
Removed overlay regarding requiring Hire Date in MM/YY format; however, start and end dates are required
