Appraisal.com Nationwide Appraisal Network: Appraisal Requirements
Property Inspection Report (FNMA 2075)

As a condition of payment and continued participation, the following requirements must be met by all appraisers on each report produced for the Appraisal.com Nationwide Appraisal Network. If you have any questions about these requirements, please contact the Appraisal.com Appraisal Quality and Review Department at 716.332.5950 x525 or email at support@appraisal.com.

General

(1) The report must be USPAP compliant, and meet minimum requirements set forth by Appraisal.com.

(2) The report must be produced in a manner that is consistent with all applicable federal, state and local laws.

(3) The report must be submitted on a typed or computer-generated (not handwritten) document that is a reasonable facsimile of the current Fannie Mae Form 2075 and all pertinent fields must be completed. If the appraiser chooses to omit any fields, an explanation must be included.

(4) The report must be delivered to Appraisal.com as an Adobe Acrobat® PDF document or, if the appraiser is unable to deliver the document as an Adobe Acrobat PDF document, the report may be delivered by overnight courier to  the Appraisal.com Nationwide Appraisal Network (620 Main Street, Buffalo, NY 14202). Delivery by courier shall be at the appraiser's sole expense and will cause the appraiser to incur a fee (see the Appraisal.com Terms of Use) for Appraisal.com to scan and upload the document as an Adobe Acrobat PDF document.

(5) The report must indicate if the site is being utilized for the highest and best use and, if not, an explanation must be included.

(6) Unless instructed otherwise within the order details, the report must name the company who ordered it as the Client for the report. If requested to do so by Appraisal.com within 30 days of report delivery, the appraiser must change the client name to reflect the correct name. However, if the name change request is due to a change of investor, the appraiser may charge a fee of up to $100 to Appraisal.com.

(7) The report must contain the date of report/signature under the appraiser’s signature, as well as under the supervisory appraiser’s signature, if applicable.

(8) The report must comply with any reasonable requests made within the special instructions section of the order.

Appraiser(s)

(1) The report must be produced by the appraiser (or appraisal firm) the assignment was sent to. The appraiser who produces the report (or the supervisory appraiser, if state law allows) must hold a current and valid state license and/or certification.

(2) The report must contain the appraiser's (and supervisory appraiser’s, if applicable) State Certification (or License) number, the state of issuance, and the expiration date of the State Certification (or License).

(3) If an apprentice or assistant produces the report, the supervisory appraiser must also sign the report. The supervisory appraiser must indicate whether he or she Did, or Did Not, inspect the subject property from street.

Attachments / Addenda

(1) If requested within the special instruction section of the appraisal order, the report must include a flood map addendum.

Photographs

(1) The report must contain current, clear and well-framed color photographs of the following:

·       Front of subject property

·       Any relevant/pertinent items and any observed detrimental conditions, should they be visible to the appraiser in the course of the “drive-by” inspection.

(2) All photographs of the subject property must have been taken at time of inspection.

(3) All photographs must be in focus and taken with sufficient lighting so that major and minor details of the property can be clearly viewed.

(4) All photographs must be framed in such a way that the subject of the photograph fits completely into the photograph.

(5) Photographs may not contain people or any element that may cause a reader of the appraisal to make assumptions regarding the racial composition of the neighborhood.