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# II. Origination Through Post-Closing/Endorsement
## D. Appraiser and Property Requirements for Title If Forward and Reverse Mortgages
### 3. Acceptable Reporting Forms and Protocols (04/10/2025)
#### (C) Required Analysis and Reporting
The Appraiser must consider how Externalities affect the marketability and value of the Property, report the issue and the market’s reaction, and address any positive or negative effects on the value of the subject Property within the approaches to value.
##### (1) Heavy Traffic
The Appraiser must analyze and report if close proximity to heavily traveled roadways or railways has an effect on the marketability and value of a site because of excess noise and safety issues.
##### (2) Airport Noise and Hazards
The Appraiser must identify if the Property is affected by noise and hazards of low flying aircraft because it is near an airport. The Appraiser must review airport contour maps and analyze accordingly. The Appraiser must determine and report the marketability of the Property based on this analysis.
##### (3) Special Airport Hazards
The Appraiser must identify if the Property is located within a Runway Clear Zone (also known as a Runway Protection Zone) at a civil airport or Clear Zone military airfield and consider the effect of the airport hazards on the marketability when valuing the subject Property.
For Properties located in an Accident Potential Zone 1 (APZ 1) at military airfields, including New Construction, the Appraiser must report the hazard and consider the effect on the marketability when valuing the subject Property and must require compliance with the Department of Defense (DoD) Guidelines.
If the Property is New Construction and is located within a Runway Clear Zone (also known as a Runway Protection Zone) at a civil airport or Clear Zone military airfield, the Appraiser must note that the Property is ineligible for FHA insurance and notify the Mortgagee.
##### (4) Proximity to High Pressure Gas Lines
The Appraiser must identify if the dwelling or related property improvement is near high-pressure gas or liquid petroleum pipelines or other volatile and explosive products, both aboveground and subsurface. The Appraiser must determine and report the marketability of the Property based on this analysis.
The Appraiser must notify the Mortgagee of the deficiency of MPR or MPS if the dwelling or related property improvement is not located more than 10 feet from the nearest boundary of the pipeline Easement.
**Handbook 4000.1 825**
**Last Revised: 01/10/2025**