Form 1004
The Fannie Mae designation for the Uniform Residential Appraisal Report (URAR), used for appraisals of one-unit properties and units in planned unit developments (PUDs). Freddie Mac designates the same form as Form 70.
Form 1004 requires a full interior and exterior inspection of the subject property and exterior inspection of the comparable sales. It is the default form for conventional purchase and refinance mortgage appraisals on single-family detached homes, townhouses, and PUD units. The form includes sections for all three approaches to value, though not all approaches are required in every assignment. The UAD 3.6 redesign significantly expanded the form with additional data fields and standardized responses.
Related Terms
Uniform Residential Appraisal Report (URAR)
URARThe standard appraisal report form (Fannie Mae Form 1004 / Freddie Mac Form 70) used for most single-family residential mortgage appraisals.
Form 1004D (Appraisal Update)
1004DA form used to update a previously completed appraisal to reflect current market conditions and confirm that the property condition has not materially changed.
Form 2055 (Exterior-Only Appraisal)
2055An appraisal report form for exterior-only inspections of one-unit properties.
Fannie Mae (Federal National Mortgage Association)
FNMAA government-sponsored enterprise (GSE) that purchases and securitizes residential mortgages, setting appraisal standards and form requirements that apply to the majority of conventional mortgage loans in the United States..
Uniform Appraisal Dataset (UAD)
UADA standardized data specification developed by Fannie Mae and Freddie Mac that defines how appraisal data fields must be completed, ensuring consistency and enabling automated analysis of appraisal reports..
More in Report Types & Forms
View allForm 1073 (Condominium Appraisal)
1073The standard appraisal form for individual condominium units, including analysis of the unit, the condominium project, and common elements.
Form 1025 (Small Residential Income Property)
1025The appraisal form for 2-4 unit residential properties, incorporating both the sales comparison approach and the income approach.
Desktop Appraisal
An appraisal performed without a physical inspection of the subject property, relying instead on public records, MLS data, prior appraisals, and other third-party data sources.
Hybrid Appraisal
An appraisal in which a third-party (not the appraiser) conducts the property inspection and data collection, while the licensed appraiser completes the analysis and value opinion based on the collected data..