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Non-appraisers are often asked to evaluate reports for compliance with the Uniform Standards of Professional Appraisal Practice (USPAP).
This online course was developed by The Appraisal Foundation (TAF) and is specifically intended to assist lending professionals in better understanding USPAP and its relevance in the lending process. The course will also facilitate a better understanding of property appraisers’ USPAP-related obligations in an assignment and will provide lender personnel with knowledge to better evaluate an appraisal report for USPAP compliance. This program is not intended to provide training for those performing appraisal review (as defined in USPAP) assignments.
A signed certification is required by USPAP in all appraisal and appraisal review reports. A signed certification provides evidence of an appraiser’s acknowledgement of his or her ethical obligations and performance requirements. A clear and accurate certification statement helps ensure the client is not misled regarding essential issues, such as whether or not the appraiser inspected the subject property and/or received significant real property appraisal assistance. Unfortunately, a lot of the certifications that appear in appraisal reports are not compliant with USPAP. Worse, many appraisers do not take the time to read or understand the certification statements that appear in many pre-printed appraisal report forms; instead they regularly sign certifications that may or may not be accurate. In this course, we will address some of the most common certification deficiencies that are encountered in appraisal reports.
This course is not approved for appraisal or real estate continuing education (CE) credit in any jurisdiction.
One of the most common errors made by appraisers in both residential and non-residential appraisal assignments is the failure to use a scope of work that is sufficient for the production of credible assignment results. This course will examine the concept of scope of work (and the related topic of property inspection) and will address some of the most common scope of work deficiencies that are encountered in appraisals.
This course was written and produced by The Appraisal Foundation, and is being presented through a partnership with McKissock Education.
Many appraisers make workfile errors that result in disciplinary action being taken against them. Sometimes these errors are in addition to other errors that are made during the development or reporting of an appraisal and they may serve as an aggravating factor. This course will examine the issue of workfile production and retention and will address some of the most common workfile-related deficiencies that are encountered in appraisals.
There are four chapters in this course. In Chapter 1, we will provide an overview of the RECORD KEEPING RULE of USPAP. In Chapter 2, we will address issues of paper versus electronic workfiles and basic workfile security. In Chapter 3, we will discuss some best practices to prepare for catastrophic events, as well as looking at some tech tools that will help document the workfile. Finally, in Chapter 4, we will address several miscellaneous workfile issues, including unacceptable assignment conditions, draft reports, appraisals for federally regulated financial institutions, and an appraiser’s obligation to his or her state appraisal regulatory agency.
This course was developed by The Appraisal Foundation (TAF) and is specifically intended to assist state regulatory agencies in better understanding the Uniform Standards of Professional Appraisal Practice (USPAP) and their relevance in, and applicability to, state enforcement programs. This course will also facilitate a better understanding of property appraisers’ USPAP-related obligations in an assignment and will provide the regulatory professional with knowledge to better evaluate an appraisal report for USPAP compliance. This program is not intended to provide training for those performing appraisal review (as defined in USPAP) assignments, nor is it meant to replace the USPAP publication itself. The course serves as an enhancement to understanding the flexibility and practicability of USPAP as it relates to real property valuation.
This is a non-credit course.
One of the most common errors made by appraisers in both residential appraisal assignments is letting the appraisal report form control the appraisal process and/or the report content. A preprinted appraisal report form, such as Fannie Mae/Freddie Mac URAR form, is not, by itself, an appraisal report. Rather, it is a container for an appraisal report. The appraiser must properly “fill” the container (i.e., provide sufficient information so that intended users can understand the report properly) in order to produce a USPAP-compliant appraisal report. In this course, we will examine appraisal report forms and their use and will also address some of the most common deficiencies that are encountered in residential appraisal reports.