Fannie Mae Appraisal Guidelines: Debunking the Myths
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The primary focus of this course is on Fannie Mae's appraisal guidelines and requirements which appear in the Fannie Mae Selling Guide, which is updated semi-regularly. This course tackles many misconceptions and busts several myths about these guidelines and requirements. Along the way, discussion examples, case studies, and "fact or myth" questions are used to apply the requirements and guidelines to real-life appraisal situations. The Uniform Appraisal Dataset (UAD) data entry "errors" that will now result in "hard stops" are identified, since it is important that appraisers "get it right" the first time. The course also provides information regarding Fannie Mae's Appraiser Quality Monitoring (AQM) initiative, using Fannie Mae's own Lender Letters and Frequently Asked Questions to provide accurate and current information. And lastly, Fannie Mae's Collateral Underwriter, which was implemented in January 2015, is briefly discussed.