What Are FHFA Forms?
The FHFA provides housing oversight, regulations, and supervision of Federal Home Loan Banks as well as Freddie Mac and Fannie Mae. The FHFA forms are designed to provide different formats and guides to home sellers and appraisers.
Various FHFA forms are available for many mortgage and home-related situations. For example, there is the single-family comparable rent schedule. This form is created to offer a familiar format to appraisers for estimating the current market rent of a specific property.
Although the FHFA forms are formats, users should only make adjustments on items that are of remarkable differences between the subject property and the comparable format.
What is Included in an FHFA Form?
The details that are included in an FHFA form depends largely from one form to the other. The great part is that you can create your form using the formats and adapting it to suit what you need. Using the single-family comparable rent schedule form, let’s look at some details that are included in the form.
The FHFA form for the Single-family comparable rent schedule will include Address, date lease begins, and date lease expires. It also includes monthly rental, utilities, and furniture deduction, rent concessions, location/view, age, and condition.
It will also include specific details about the conditions of the subject property; specific details of the rooms and if there is a basement or other additions. Other peripheral details can also be provided to give the appraiser a broader perspective. The appraiser’s name and a signature will also be included.
As stated, you can find different FHFA forms for different situations. The official website of FHFA has a wide list of forms that can be accessed on the platform.
Who Can Use an FHSA Form?
Anyone with a vested interest in a subject property can use an FHSA form. A mortgage banker, appraiser, seller, servicer, or underwriter can make use of the form. However, the choice of the form will depend on the specific need of the user.
For example, Form 1035 is for the seller/servicer. The form is a tri-party agreement used by a document custodian and a seller/servicer.
It governs the custody and verification of different assignments and notes of single-family mortgages offered to be serviced or for sale. For each property-related scenario, there is an FHSA form that can be adapted to suit your needs.
How Can I Fill Out an FHFA Form?
The first step in filling out an FHFA form is to identify the specific form that addresses your needs. Next, visit the official website of FHSA and download the form. After downloading it, you can go ahead to print and fill it out.
However, you can make the filling process very simple. Check the FHSA section on CocoSign and locate the form you need. Next, fill it out on the platform with accurate details. You can easily edit the form to suit your needs.
When you are done, double-check the information to be sure that everything is accurate. Next, use the CocoSign e-sign feature to append your signature. You do not have to print and sign the forms manually. Everything has been simplified for your ease.