Fannie Mae Announces 1004MC Form No Longer a Requirement

1004MC Form

August 31, 2018 ( PR Submission Site ) Effective August 7th, 2018, Fannie Mae released an update stating the 1004MC form is no longer required.

The 1004MC form was introduced to standardize appraiser reporting and analysis of market conditions after the 2008 housing crisis. Though the form is no longer a Fannie Mae requirement, they’ve released the following note:

“Appraisers remain responsible for analyzing market conditions and accurately reporting them in the Neighborhood section of our appraisal forms.”

Selling Guide Updates

The Selling Guide has been updated to include changes to the following:

  1. High Loan-to-Value Refinance Option
  2. Market Conditions Addendum (Form 1004MC)
  3. Disbursement of HomeStyle® Renovation Funds
  4. Consolidation of Data Quality and Integrity and Mortgage Fraud
  5. First Payment Date
  6. Miscellaneous Selling Guide Updates

Each of the updates is described below. The affected topics for each policy change are listed on the Attachment. The
Selling Guide provides full details of the policy changes. The updated topics are dated August 7, 2018.

High Loan-to-Value Refinance Option

We updated the Selling Guide to include all of the details that were previously communicated in LL-2017-05, High Loanto-Value Refinance Option and LL-2018-02, High Loan-to-Value Refinance Option Update. We have also added a new page to the Eligibility Matrix for these transactions.

The high LTV refinance option is the permanent replacement for DU Refi Plus™ and Refi Plus™. We will remove the content related to these products from the Selling Guide in 2019, after the September 2019 loan delivery deadline.

Effective Date

While lenders may not begin accepting applications for this option until after November 1st, they may now access all of the requirements directly in the Selling Guide.


Click here to view the full update from Fannie Mae.


Effective August 7th 2018, Fannie Mae released an update stating the 1004MC form is no longer required.

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