MPF Announcements 2024-03

MPF Traditional Selling – Appraisal Update and/or Completion Alternatives

Effective Date: Immediately (unless otherwise noted)

Updated the Guide to incorporate the following alternative methods for verifying completion of construction or repairs:

• in lieu of an on-site visual inspection, the appraiser may complete the Appraisal Update and/or Completion Report (Form 1004D/442) form using methods such as virtual inspections, digital photos, site videos, or other technological solutions.
• in lieu of Form 1004D/442, in certain instances attestation letters may be utilized to verify completion of construction, alteration, or repairs.

See MPF Traditional Selling Guide section 7.2.5 FNMA 1004D/FHLMC 442: Appraisal Update and/or Completion Report.