Fannie Mae Selling Guide B4-1.3-11 — Valuation Analysis and Reconciliation
Fannie Mae Selling Guide B4-1.3-11 — Valuation Analysis and Reconciliation.
Verbatim regulatory text
Verbatim provisions from Fannie Mae Selling Guide B4-1.3-11 — Valuation Analysis and Reconciliation — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
Fannie Mae Selling Guide B4-1.3-11 — Valuation Analysis and Reconciliation
B4-1.3-11, Valuation Analysis and Reconciliation (06/04/2025) Introduction This topic contains information on reviewing the valuation analysis and final reconciliation, including: Overview Reconciliation Uniform Appraisal Dataset (UAD) 3.6 Policy Overview The valuation sections of Fannie Mae’s appraisal report forms enable an appraiser to develop and report, in a concise format, an adequately supported opinion of market value based on the cost, sales comparison, and income approaches to value, as applicable. If the appraiser believes that additional information needs to be provided because of the uniqueness of the property or some other condition, they should provide additional supporting data in an addendum to the appraisal report form. Reconciliation In the Reconciliation section of the appraisal report form, the appraiser considers the reliability and applicability of each of the approaches to value that was utilized in the appraisal report. After consideration of each of the approaches to value, the appraiser will provide their final value opinion. In the Reconciliation section, appraisers must reconcile the reasonableness and reliability of each applicable approach to value, reconcile the reasonableness and validity of the indicated values, reconcile the reasonableness of available data, and select and report the approach or approaches that were given the most weight. The reconciliation is based on the appraiser’s analysis of the results developed as part of the valuation process and must never be an averaging technique with the exception of the use of a weighted average technique that Published May 6, 2026 589 includes proper explanation. The final reconciled indicated value must be within the range of the values indicated by the Approaches used in the appraisal report form. Uniform Appraisal Dataset (UAD) 3.6 Policy Lenders using UAD 3.6 must follow the requirements in the UAD 3.6 Policy Supplement. Recent Related Announcements The table below provides references to recently issued Announcements that are related to this topic. Announcements Issue Date Announcement SEL-2025-04 June 04, 2025 Announcement SEL-2024-06 September 04, 2024