Appraisals
Our Philosophy
We review appraisals to determine whether the reports meet our requirements and that the opinion of market value is adequately supported. The Freddie Mac Multifamily Seller/Servicer Guide (Guide) is an excellent resource for Optigo® lenders and appraisers alike — become familiar with the requirements set forth in Chapter 60.
New Underwriting Appraisal Checklist
Effective March 4, Freddie Mac underwriters will complete a new compliance checklist for the initial appraisals submitted to Freddie Mac for each loan/property. Optigo® lenders and appraisers are advised to review the checklist items and Chapter 60 of the Guide to ensure submitted appraisal reports meet all Freddie Mac requirements.
Fair Lending
Per Guide Chapter 60.8: “The appraiser must describe the Property and the neighborhood in factual, unbiased and specific terms. The appraiser may not consider any information about the geographic area, neighborhood, occupants, owners or prospective owners of the Property that involves the following prohibited factors: race, color, religion, national origin, sex, sexual orientation, gender identity, marital status, age, receipt of income of tenants derived from any public assistance program, the retaliation for exercise of any federally protected civil right, familial status, and disability.”
Latest Updates
February 7, 2024
- Multifamily Underwriting Appraisal Checklistpdf
December 21, 2023
November 29, 2023
Learning Tools
Additional Resources
- Chapter 60 of the Seller/Servicer Guide
- Additional Appraisal Requirements Memorandum - 02/14/2024
- Multifamily Underwriting Appraisal Checklist - 02/14/2024
- Appraisal Guidance Compliance Checklist - 05/09/2023
- Restricted Vendor List (For Optigo lenders only)
- Multifamily Appraisal FAQs - 05/22/2022
- Multifamily Appraisal Forum 2023 FAQs - 12/21/2023
- Appraisal Forum 2023 Workbook - 12/19/23
- Top 5 Appraisal Review Observations - 08/06/2019
- Real Estate Appraisals Best Practices - 06/04/2021
- Consideration of Fire Damage or Other Insurance Proceeds in Appraisals - 06/03/2022
- Development of Capitalization Rates — Proforma vs T-12 - 06/03/2022
- Property Taxes in a Freddie Mac Appraisal - 10/30/2023
- SBL Appraisals - 50 Pages - 08/06/2019
- TAHX Appraisals - 75 Pages - 08/06/2019
- Validating Large Value Increases Over a Short Time - 06/03/2022
- Valuing Non-Stabilized Multifamily Properties - 06/03/2022
- Appraisal Forum 2022 Presentation Deck - 02/24/2022