White Paper - Non-substantive Change

White Paper

OMB #2900-0890

FNMA Forms 1004, 1004C, 1025, 2055 and 1075

Non-substantive/Non-material change

This is a non-substantial revision to VA’s approved information collection regarding certain industry-standard forms used by VA fee panel appraisers to complete an appraisal pursuant to 38 U.S.C. § 3731. In the supporting statement, VA listed those Fannie Mae forms most commonly used in the real estate profession, including Form 1004 (Uniform Residential Appraisal Report) and Form 1004C (Manufactured Home Appraisal Report). VA inadvertently did not include Form 1004 Desktop (Uniform Residential Appraisal Report (Desktop)) and seeks to include this form with the other collection instruments under this approved information collection.

Form 1004 Desktop, used when an appraiser completes an appraisal without a visual inspection of the interior and exterior of the subject property, is identical to Form 1004 as to the information collected on the form. Differences between the forms, observed in the Reconciliation, Instruction, and Appraiser’s Certification sections, are the removal of references and language that the appraiser completed a visual inspection of the property. The inclusion of Form 1004 Desktop in VA’s approved information collection will have no impact on the burden estimates as Form 1004 Desktop is completed in lieu of Form 1004.