Property Valuation
An Oklahoma appraiser completing a full URAR (Uniform Residential Appraisal Report) for a single-family home mortgage loan must comply with:
AOnly state licensing requirements with no federal standards
BUSPAP (Uniform Standards of Professional Appraisal Practice), Fannie Mae/Freddie Mac guidelines, and any applicable state laws and lender requirements — a multi-layered compliance framework✓ Correct
COnly OREC's appraisal guidelines
DOnly the individual lender's internal policies
Explanation
Residential appraisers in Oklahoma must comply with USPAP (the national professional standard), Fannie Mae/Freddie Mac (or other agency) appraisal guidelines when performing appraisals for conforming loans, Oklahoma REAB regulations, and any specific lender requirements. This represents a comprehensive multi-level compliance framework.
Related Oklahoma Property Valuation Questions
- The income capitalization approach to value is most appropriate for valuing:
- Plottage (assemblage) value in Oklahoma refers to:
- Plottage (assemblage) value refers to:
- When an Oklahoma appraiser determines that a neighborhood is in the 'declining' phase of the neighborhood life cycle, this observation affects value estimates by:
- A Comparative Market Analysis (CMA) performed by an Oklahoma real estate agent differs from a formal appraisal in that:
- Functional obsolescence in real estate refers to:
- The income capitalization approach calculates value by:
- The principle of 'anticipation' in Oklahoma real estate appraisal means value is:
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