1004MC Transfers and Calculation Details

You've exported information from your MLS as a CSV file, imported it into Titan Analytics, and Titan Analytics has filled out the 1004MC for you — but what exactly is that information? What transfers where? How is it calculated? Below is a list of definitions, along with explanations of transfers and calculations encountered on the 1004MC:

Current‑3 Months

The past 3 month period. For example, if the effective date is 7/9/2010 the period would be 4/10/2010 through 7/9/2010.

Prior 4‑6 Months

The 3 month period of time between 6 months ago through 4 months ago. For example, if the effective date is 7/9/2010 the period would be 1/10/2010 through 4/9/2010.

Prior 7‑12 Months

The 6 month‑period between 12 months ago and 7 months ago. For example, if the effective date is 7/9/2010 the period would be 7/10/2009 through 1/9/2010.

Total # of Comparable Sales

The sum of all of the sales that have happened at any point in the specified period. It includes only CLOSED sales transactions.

Absorption Rate

Total # of Comparable Sales divided by the time period in months.

Total # of Comparable Active Listings

The properties that were ACTIVE listings on the last day of the period.

More specifically, including only properties that were still available to be shown to prospective buyers. Other properties such as expired, sold, under contract etc are excluded from this calculation. Titan Analytics lets you configure how pending sales are treated in the calculations. By default, they are considered off market, but in the 1004MC screen, the configuration lets you treat them as on market.

A difficult question arises concerning contingent sales: these are treated differently from one MLS to the next. Fannie Mae gave us the following guidance and instruction:

If contingent sales are still considered active listings then include them. If not, then don't include them.

You must reflect what is common and customary in your area. Titan Analytics lets you manage your statuses.

Months of Housing Supply

The Total # of Comparable Active Listings divided by the Absorption Rate for the specified period.

Median Comparable Sale Price

The median sale price for all sold properties within the specified period. If there are two middle values, the median is the average of the middle values.

Median Comparable Sales Days on Market

If Days on Market (DOM) is available, the median Days on Market value for all sold properties for the specified period.

Some MLS providers only include the DOMs for the current listing contract. Others provide Cumulative DOM (CDOM) which includes the number of days for all previous listing contracts for that property. Some MLS providers offer both DOM and CDOM. Finally, some MLS providers have other descriptions.

Median Comparable List Price

The median list price of all end-of-period listings for the specified period.

Median Comparable Listings Days on Market

Where Days on Market data are available, the median DOM value for all end‑of‑period listings for the specified period.

Median Sale-to-List Price Ratio

The median value of all properties when they are sorted by their individual sale price‑to‑list price ratio.

For example, if you have 3 properties:

• Property 1: lp 70,000; sp 70,000; sp/lp 100%
• Property 2: lp 200,000; sp 160,000; sp/lp 80%
• Property 3: lp 80,000; sp 40,000; sp/lp 50%
• Median Sale Price: 70,000 (the middle of 160, 70, and 40)
• Median List Price: 80,000 (the middle of 200, 80, and 70)
• Median SP/LP Ratio: 80% (the middle of 100%, 80%, and 50%)

If you have a question on why TOTAL calculates the Median Sale Price as a percentage of the list price using the information listed above, click here.

Seller Concessions Explanation

Information about the trends of seller concessions, if available. Click here to see how Titan Analytics determines trends.

Text Calculations Next to Graph Differ From Graph Depiction

The text calculations that are placed next to the graph are a projection of what the data would be at the effective date of the report. The projection will keep going at the same incline that it ends with on the graph until it hits the effective date. If the text data differs from what is expected, there are a couple things to keep in mind:

• Not enough data points for an accurate projection to be calculated

  Aside from adding more data points, you can try omitting certain data points as outliers. It also may help to change which algorithm Titan Analytics is using for the graph: while in Titan Analytics, select the graph and change the regression type.

• The data that has been provided is not close enough to the effective date

  The further the last data point is from the effective date, the more skewed the projection will be.

Foreclosure Trends

In many areas, it is very difficult to accurately determine the distressed status of a listing. If the MLS has fields that specifically indicate when a property is bank‑owned, such as a short sale flag or REO flag, then Titan Analytics uses this to determine its distressed status. Click here for an explanation of how Titan Analytics determines trends.

How can I populate the One-Unit Housing Trends section using Titan Analytics?

The 1004MC is specific to competing properties. But on forms like the URAR, the neighborhood section is based on geographical boundaries, which may include more than just competing properties. So, by default, Titan Analytics doesn't complete the One‑Unit Housing Trends section of your report. Click here for instructions on how to make Titan Analytics fill out this section too.

How does Titan Analytics create comments?

If you're lucky enough to have an MLS that gives you data for seller concessions and foreclosures, Titan Analytics uses that data to create customized comments for your 1004MC. The first two comments sections are completed automatically, and we leave the final summary blank so that you can personalize your conclusions. Here's how it works!

If you have any additional questions about the 1004MC or how it functions, click here for more information, guidelines, and the official FNMA FAQ.