For a Fannie Mae assignment expressly using the legacy Site-section requirements in B4-1.3-04, which map identifiers accompany SFHA status?
Correct Answer
A) The specific FEMA flood zone, the map number, and the map's effective date
For the cited legacy Site-section reporting, indicate SFHA status along with the specific FEMA zone, map number and map effective date. These map identifiers document the information used; they do not substitute for a separate insurance determination.
Why This Is the Correct Answer
Option A is correct because Fannie Mae Selling Guide B4-1.3-04 states that the appraiser must indicate the specific FEMA flood zone and the map number and its effective date. These identifiers document which flood map information the appraiser used. They do not replace a separate flood insurance determination.
Why the Other Options Are Wrong
Option B: Only the borrower's flood-insurance premium amount
Option B is wrong because it lists only the borrower's flood-insurance premium amount. The premium is an insurance matter, not one of the map identifiers the cited requirement names.
Option C: The year the dwelling was built and its square footage
Option C is wrong because the year built and square footage describe the improvements, not the flood map. They are not the identifiers that accompany SFHA status.
Option D: No flood information is required on the appraisal form for a property in an SFHA
Option D is wrong because it says no flood information is required for a property in an SFHA. The cited requirement calls for the flood zone, map number and map effective date.
Zone, number, date
Report flood map data like an address: the zone, the map number, and the map date.
How to use: Use this three-part list to recall what accompanies SFHA status in the site section.
Exam Tip
When asked what flood identifiers accompany SFHA status, look for the answer naming the FEMA zone, map number and effective date.
Common Mistakes to Avoid
- -Reporting insurance premiums instead of flood map identifiers
- -Leaving flood fields blank for a property in an SFHA
- -Treating the appraiser's map data as the lender's flood insurance determination
Concept Deep Dive
Analysis
This question tests recall of the flood map identifiers required with SFHA status under the cited legacy Fannie Mae Site-section requirements. The guide names three items: the specific FEMA flood zone, the map number and the map's effective date. Pick the option that lists those identifiers.
Background Knowledge
A Special Flood Hazard Area is the area FEMA maps as subject to the base flood. Appraisal reporting that notes SFHA status also records the flood zone and the map panel and date so users can trace the source. The lender's flood determination remains a separate process.
Real-World Application
An appraiser checks the FEMA map for a subject near a creek and finds it in Zone AE. In the site section, the appraiser marks SFHA status and records the zone, map number and map effective date.
More Property Description Questions
A local zoning ordinance allows these maximum densities: R-1, 4 units per acre; R-2, 8 units per acre; R-4, 20 units per acre; PUD (with approval), 12 units per acre. Which category allows the highest density?
What design advantage is commonly associated with post-and-beam construction?
A hypothetical local ordinance permits either a single-family house or duplex on the site. The existing single-family house complies with all current rules. Which statement is supported?
A zoning variance allowing a reduced side setback is granted for a parcel. After the parcel is sold, who generally holds the benefit of the variance, subject to its conditions?
Under ANSI Z765-2021 as applied by Fannie Mae, a staircase runs from the second floor down to the first floor. Its area is counted as part of:
Under ANSI Z765-2021, as Fannie Mae requires for a detached house, where are exterior dimensions taken on a brick-veneer wall?
A building's HVAC system would be classified as which type of building component?
A home on a large tract is valued at $620,000 including the land it needs. The remaining excess land could be sold separately and contributes a net $95,000 after separation costs. What is the total indicated value?
A covered sale concerns a residence built in 1965. Which hazard is the subject of the federal pre 1978 housing disclosure rule, without assuming its actual presence?
Which site characteristic is most likely to reduce site utility by restricting where a typical dwelling can be placed?
People Also Study
Real Estate Market
13.6% of exam
Land or Site Valuation
4.5% of exam
Sales Comparison Approach
16.4% of exam
Cost Approach
13.6% of exam
Income Approach
8.2% of exam