Marshall & Swift (M&S), a MacDonald, Dettwiler and Associates Ltd. business and a provider of residential and commercial building cost data to the real estate appraisal market, has announced new support for the appraisal process through its appraiser certification program.
The new M&S Licensed User Certificate is available to M&S licensed
customers and can be attached to any appraisal report. The certificate is written confirmation that the appraiser maintains current building cost information in accordance with appraisal best practices, and supports the residential appraisal form requirement that the appraiser list a source of current data when calculating a cost approach valuation.
Marshall & Swift also provides an online registry of certificate holders should lenders wish to confirm appraisers' access to current building cost information as part of their underwriting process.
‘With the federal takeover of Fannie Mae and Freddie Mac, much more attention will likely be focused on adherence to appraisal standards, so we encourage appraisers to come to the certificate Web site as soon as possible,’ states Arun Beheit, M&S' vice president of government and institutional markets.
Source: Marshall & Swift