Live Webinar: REO Appraisal: Guidelines and Best Practices
This course provides a greater understanding of the lending and foreclosure processes leading to properties becoming real estate owned (REO), and the roles and responsibilities of valuation professionals in this process. We will examine the differences between traditional mortgage appraisal assignments and foreclosure assignments. Special attention is paid to clearly identifying the definition of value as well as assignment conditions and requirements from clients and intended users such as Fannie Mae and HUD/FHA. We will cover the concepts of cost to repair and cost to cure, along with data sources to support cost estimates, as well as investor incentive (risk demand) estimates extracted from the market.