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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. Appraiser Conduct (08/19/2024)

The Appraiser must perform all FHA appraisal assignments in a competent, independent, impartial, and objective manner. The Appraiser must avoid practices that could affect the reliability of the appraisal report opinions and conclusions. In addition to compliance with USPAP, including the Competency Rule, the Appraiser must not:

- Discriminate in developing and reporting any part of the appraisal or value conclusion based on characteristics that are protected by federal, state, or local laws;
- Misrepresent the scope of work performed in the completion of the FHA appraisal; or
- Develop or communicate an appraisal report to FHA that is knowingly misleading or fraudulent.

#### d. Underwriter Requests for a Reconsideration of Value (09/02/2024)

In the event the underwriter requests a Reconsideration of Value (ROV) and provides additional information material to the value of the Property, the Appraiser must:

- Review all information and market data received from the underwriter; and
- Summarize the analysis of all information provided by the underwriter within a revised version of the appraisal report regardless of whether the Appraiser determines that changes are not needed to address the issues identified in the ROV.

### 3. Acceptable Reporting Forms and Protocols (04/10/2025)

FHA only accepts appraisals in the Mortgage Information Standards Maintenance Organization (MISMO) 2.6 with embedded PDF format, as created directly by the appraiser (first generation). FHA does not accept private or proprietary data formats or appraisal reports that have been manipulated or “translated” by anyone or any process.

Forms to be used in the completion of an FHA appraisal are as follows:

| Property/Assignment Type | Acceptable Reporting Form |
|--------------------------|---------------------------|
| Single Family, Detached, Attached or Semi-Detached Residential Property (One-Unit Property or a One-Unit Property with a Single Accessory Dwelling Unit (ADU)) | Fannie Mae Form 1004/Freddie Mac Form 70, Uniform Residential Appraisal Report (URAR) |
| Single Family Comparable Market Rent Analysis | Fannie Mae Form 1007/Freddie Mac Form 1000, Single Family Comparable Rent Schedule |
| Single Unit Condominium | Fannie Mae Form 1073/Freddie Mac Form 465, Individual Condominium Unit Appraisal Report |
| Manufactured (HUD Code) Housing (One-Unit Property or a One-Unit Property with a Single ADU) | Fannie Mae Form 1004C/Freddie Mac Form 70B, Manufactured Home Appraisal Report |
| Small Residential Income Properties (Two- to Four-Units) | Fannie Mae Form 1025/Freddie Mac Form 72, Small Residential Income Property Appraisal Report |

**Handbook 4000.1**  
**Last Revised: 01/10/2025**
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