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09/2005 -- On
November 1, 2005, FNMA will be requiring the use of
their new appraisal forms on all appraisal assignments
that value residential properties for the purposes of a
lending transaction. This includes all single
family, duplex, triplex, fourplex, manufactured homes
and condominium properties. Bridgeport Appraisal
has decided to be proactive with this change and start
producing appraisals on these new forms as of September
15, 2005.
The current climate of
the residential appraisal industry is dramatically
changing with a implementation of these new forms,
combined with substantial increases in the cost of doing
business. Based on these changes, Bridgeport
Appraisal has been forced to increase appraisal fees on
the majority of their assignments. Please
click here to review the full explanation and
revised fee schedule.
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