Workfile Documentation for Appraisers

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This course contains audio and video. Very few appraisers intend to have a workfile that does not comply with the RECORDING KEEPING RULE of USPAP. Yet, one of the most common disciplinary actions taken by licensing boards result from insufficient support – either in the report or the workfile. 

This course focuses on the point of the workfile – to preserve evidence that the appraiser complied with USPAP. If that evidence is not presented in the report, it MUST be kept in the workfile. 

Too often, when appraisers think workfile “support” they tie it to the Sales Comparison Approach, which, while important, is not enough. From the beginning (accepting the assignment) to the end (delivery of the report), the appraiser is in the “analyze and conclude” mode. Sadly, much of that is done “on the fly” with very little actual supporting documentation making it into the report or the workfile. 

The course begins with a discussion of the RECORDKEEPING RULE and the SCOPE OF WORK RULE, as the basis for helping to establish what information is necessary to ensure the appraiser produces credible assignment results. 

And, since many appraisers consider that if the lending assignment “one-size-fits-all” engagement form is in the workfile, there is sufficient evidence of compliance, two engagement letters are analyzed and missing assignment elements are identified. 

The next section takes Fannie Mae’s 1004 report form and on a page and section basis, identifies the areas which are often the least supported by file documentation. This section also addresses the ways that the same information can be used to supported several different analyses. 

The wrap up consists of final thoughts, which are designed to remind appraisers that although time consuming, having sufficient data in the workfile is time well spent – that the workfile IS the best defense against an offense.

Chapter List:

  • Chapter 1 - Section 1: Record Keeping Rule and Scope of Work Rule
  • Chapter 2 - Section 2: Engagement Letters - What More Do We Need?
  • Chapter 3 - Section 3 - The more that we need
  • Chapter 4 - Section 4: Wrapping It Up



Robert / North Carolina
Very helpful

Kathleen / Washington DC
It was very easy to navigate through it.

Amanda / Michigan
Another concise and effective course.

Bruce / Kentucky
Good course, ideas presented that you don't often think about keeping for the file.

Gary / California
The representative for the continuing education division was most helpful during my time of crisis, called upset and confused and Amanda explained everything clearly and apologized for the problem, although not hers directly, so I felt much better. Hats off to Amanda!!!

Jami / Montana
Great Class

Gary / Colorado
This was an exceptional instructor.

Michael / Kentucky
Relevant material for my residential appraisal services. Workfile documentation can always be improved and these courses help to underscore its importance.

Lonnie / Colorado
Wow. recordkeeping on steroids.

Brian / Washington
The course met my needs.