Final answer:
The commonly-used residential appraisal report forms are created by Fannie Mae and Freddie Mac. These organizations are central to the U.S. housing finance system by providing standardized appraisal forms used for determining property values for mortgages.
Step-by-step explanation:
Most of the commonly-used residential appraisal report forms are created by Fannie Mae and Freddie Mac. These entities provide standardized forms for appraisers to report the value of properties. Fannie Mae and Freddie Mac play a significant role in the United States' housing finance system by buying mortgages from lenders and selling them to investors, which adds liquidity to the mortgage market. The appraisal forms they provide are widely used because they conform to these entities' requirements for mortgage purchasing.
The Federal Housing Administration (FHA), while instrumental in shaping housing policies and practices both historically and in the modern era, is primarily associated with insuring mortgages. FHA practices such as the controversial 'redlining,' where minority neighborhoods were unfairly deemed credit risks, had profound implications on homeownership accessibility and residential segregation. However, the FHA is not responsible for creating residential appraisal report forms.