Property Valuation
A Missouri appraiser completes an appraisal for mortgage purposes. The report format most commonly required by lenders is:
AA letter of opinion
BThe Uniform Residential Appraisal Report (URAR/Fannie Mae Form 1004)✓ Correct
CA tax assessment notice
DA broker price opinion (BPO)
Explanation
The Uniform Residential Appraisal Report (Form 1004) is the standard report format required by Fannie Mae, Freddie Mac, FHA, and VA for single-family residential appraisals used in mortgage lending.
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