Answers
Jan 08, 2018 - 07:31 AM
This issue is addressed in FAQ #267 in the Freqently Asked Questions section of the 2018-19 USPAP publication as follows:
267. USE OF CERTIFICATION WITH FORM 1004D/442 – SATISFACTORY COMPLETION
Question: My client has asked me to re-inspect the property and provide them with a certification of completion for an appraisal that I completed for them eight months ago and submit the report on the Fannie Mae Form 1004D/Freddie Mac Form 442. The assignment does not include an updated value opinion. Does this assignment require a certification regarding the prior service?
Response: No. Because this is neither an appraisal nor appraisal review assignment, USPAP does not require a certification. Although a disclosure of the prior service is required at the time of accepting this assignment, no certification is required. The Conduct section of the ETHICS RULE states in part:
In assignments in which there is no appraisal or appraisal review report, only the initial disclosure to the client is required.
267. USE OF CERTIFICATION WITH FORM 1004D/442 – SATISFACTORY COMPLETION
Question: My client has asked me to re-inspect the property and provide them with a certification of completion for an appraisal that I completed for them eight months ago and submit the report on the Fannie Mae Form 1004D/Freddie Mac Form 442. The assignment does not include an updated value opinion. Does this assignment require a certification regarding the prior service?
Response: No. Because this is neither an appraisal nor appraisal review assignment, USPAP does not require a certification. Although a disclosure of the prior service is required at the time of accepting this assignment, no certification is required. The Conduct section of the ETHICS RULE states in part:
In assignments in which there is no appraisal or appraisal review report, only the initial disclosure to the client is required.
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