Fannie Mae 1004MC Questions

Per Fannie Mae:

The Median Sale Price as % of List Price is to be determined by analyzing the comparables that have sold and settled during the specific time frame, not by using the data from the lines above this section on the form.

Example:

If you had 5 sold properties in the 7 – 12 month period, you would divide each individual list price by the sale price. After you have all five complete, you would then put the %’s in numerical order and the one in the middle is your median sale price as % of list price on the Fannie Mae 1004MC.

Why do the Total Number of Active Listings numbers not match my Total Number of Comparable Sales numbers  on the Fannie Mae 1004MC form?

Solution:

Total # of Active Listings – Sept 1st 2010 fannie mae update: Total # of Active Listings refers to listings that were active on the most recent date in the time period, not the cumulative number of listings as previously defined.; Current – 3 Months, Prior 4-6 Months, Prior 7-12 Months, regardless of their current status.

No longer calculated this way as of Sept 1st, 2010:Total # of Active Listings refers to listings that were active at any time within the requested time period; Current – 3 Months, Prior 4-6 Months, Prior 7-12 Months, regardless of their current status.

For more information about the Fanie Mae 1004MC option please click here.

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