NOTE: All times are listed
as Eastern Time. Please adjust for your time zone accordingly.
Live Webinar: UAD - Up Close and Personal
Tuesday Sep 23 , 10:00AM - 1:00PM EST
In 2011, Fannie Mae and Freddie Mac launched the Uniform Mortgage Data Program (UMDP) initiative, which standardizes data provided by lenders to these two mortgage giants. A key part of this initiative is the Uniform Appraisal Dataset (UAD). Residential appraisers have had almost two years of working with the UAD, but there are still significant misunderstandings relating to key requirements of the UAD. This course begins by briefly reminding the appraiser of the purpose of the UAD. It then moves to explain “hard stops”, which can result from information in the appraisal report not being presented in compliance with the UAD. As of the writing of this course, four hard stops have been implemented. Effective January of 2014, four more will be introduced and three more are expected to be introduced in late 2014. It is important that the appraiser “get it right” the first time, so the hard stops, whether currently in effect or proposed are identified. Fannie and Freddie continue to have problems with information provided in the appraisal report. Section 3 of the course focuses on those problem areas by providing a more in depth presentation of what is expected of the appraiser.
Live Webinar: Analyze This! Applications of Appraisal Analysis
Wednesday Sep 24 , 12:00PM - 4:00PM EST
This course concentrates on proper analysis for residential appraisers. Analysis is the genesis of value. We will start with a review of unacceptable appraisal practices as identified by the GSEs. After looking at several definitions of analysis, the focus will turn to areas of analysis that are frequently missing from appraisal reports and from appraisal work files, as required by USPAP and regulators, including but not limited to: support for exposure time, support for the highest and best use conclusion, support for effective age and economic life conclusions. Then we will concentrate on the market analysis (1004MC) and on the sales analysis; again with USPAP and regulatory compliance in mind. We will also focus on comparable sales selection, qualitative, and statistical analysis.