Michigan Appraisal Continuing Education & License Renewal

Fannie Mae is of the largest funding sources for home loans. However, many appraisal professionals are unfamiliar with this corporation’s actual role in the mortgage industry. Understanding the purpose and function of Fannie Mae, in addition to its current guidelines and requirements for appraisal assignments, is essential to conducting fair and compliant real estate transactions. In order for you to better understand Fannie Mae and its role in the housing market, your instructor will tackle a number of misconceptions and will disprove several myths about the guidelines and requirements associated with this organization. Along the way, your instructor will discuss examples, provide case studies, and ask “fact or myth” questions which you can apply to real-life appraisal situations. Your instructor will also identify and discuss Fannie Mae’s Appraiser Quality Monitoring (AQM) initiative, using Fannie Mae’s own Lender Letter and Frequently Asked Questions to provide accurate and current information.

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.

Disciplinary cases against appraisers are on the increase throughout the United States due to several factors, most significantly the Dodd-Frank requirement that lending institutions and AMCs must report suspected violations of USPAP to state enforcement agencies. This course is designed to make the appraiser aware of what not to do by presenting not only guidance, but also a significant number of actual appraiser disciplinary cases.

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.

Fannie Mae is of the largest funding sources for home loans. However, many appraisal professionals are unfamiliar with this corporation’s actual role in the mortgage industry. Understanding the purpose and function of Fannie Mae, in addition to its current guidelines and requirements for appraisal assignments, is essential to conducting fair and compliant real estate transactions. In order for you to better understand Fannie Mae and its role in the housing market, your instructor will tackle a number of misconceptions and will disprove several myths about the guidelines and requirements associated with this organization. Along the way, your instructor will discuss examples, provide case studies, and ask “fact or myth” questions which you can apply to real-life appraisal situations. Your instructor will also identify and discuss Fannie Mae’s Appraiser Quality Monitoring (AQM) initiative, using Fannie Mae’s own Lender Letter and Frequently Asked Questions to provide accurate and current information.

Disciplinary cases against appraisers are on the increase throughout the United States due to several factors, most significantly the Dodd-Frank requirement that lending institutions and AMCs must report suspected violations of USPAP to state enforcement agencies. This course is designed to make the appraiser aware of what not to do by presenting not only guidance, but also a significant number of actual appraiser disciplinary cases.

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.