In the realm of real estate and mortgage lending, the Fannie Mae Form 2090, known as the Individual Cooperative Interest Appraisal Report, serves a crucial role. This comprehensive document is designed to provide lenders and clients with a well-supported opinion on the market value of a specific cooperative unit. As such, the form meticulously outlines various aspects of the property in question, including its address, legal description, and current occupancy status, while also detailing the financial nuances of a potential transaction, such as monthly maintenance fees, and any special assessments. Further, the form inquires into the property's sale history and the existence of any financial assistance which could influence the transaction. Venture into the specifics of the neighborhood, noting trends in cooperative housing, land use percentages, and neighborhood boundaries. Additionally, the form examines the cooperative project itself, shedding light on the management structure, the presence of commercial space, and the condition of the project's amenities – all of which play into the valuation. Notably, the appraiser's certification spells out the standards and assumptions under which the appraisal is conducted, including adherence to the Uniform Standards of Professional Appraisal Practice. In essence, this form encapsulates the multifaceted evaluation process that informs lenders of a property's worth in the context of a cooperative housing arrangement, ensuring a thorough understanding of not only the unit's value but also the broader project and neighborhood dynamics.
| Question | Answer |
|---|---|
| Form Name | Fannie Mae Form 2090 |
| Form Length | 7 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 1 min 45 sec |
| Other names | fannie cooperative appraisal make, fannie mae appraisal report form, fannie mae 2090, coop appraisal form |