Instructions for the 1004MC Spreadsheet
Version 1.1
March 17, 2009
The Market Conditions Addendum (Form 1004MC) is designed to enhance the transparency of the market trends and conditions conclusions made by the appraiser. The Market Conditions Addendum is required with all one- to four-unit property appraisals performed on or after April 1, 2009. This requirement applies to loans delivered to both Fannie Mae and Freddie Mac.
An in-depth training presentation, FAQ, and the form itself are available at: https://www.efanniemae.com/sf/formsdocs/forms/1004mc.jsp
Steps for Use in NTREIS Listings:
1. Create and save a custom search that will return all comparable properties within the past year. The spreadsheet will calculate statistics for
up to 1000 comparables.
2. Click on the "Custom Reports" button from your search results page.
3. You'll see a template called "1004 MC - System Template." Select this and re-name/save it to your Custom Reports.
4. Once you are returned to search results page, run the newly-created custom report you just named.
5. From the report view, click the Download button to open the download page.
6. When prompted to open or save the file, click Save to open the Save As dialog.
7. Select a location on your computer to save the file, and click Save.
8. Enter the desired evaluation date in cell B3.
9. Open the data export file that you saved to your computer earlier.
10. Copy the contents of the data export file and paste them into cell A18 of this spreadsheet.
11. Copy the statistical data from the blue table into the Market Conditions Addendum (Form 1004MC) and perform analysis as needed.
Note: Once you have completed Steps 1-3 the first time, you'll be able to run your search and go directly to "Download" and select your newly created Custom Report from there.