The New Appraisal Era
What Every Broker and Appraiser Needs to Know
And how they can help their clients
Fannie Mae and Freddie Mac, the GSEs, have created new appraisal requirements (UAD 3.6) that will impact brokers, borrowers, and appraisers.
This isn’t just an appraisal anymore this is a new valuation process and “form” that requires new detailed information gathered at every house. Brokers should help their clients by informing them about:
- Five different valuation options that can be used for loan approval.
- When appraisers will and won't be inspecting homes.
- New unlicensed people performing inspections (Property Data Collectors).
- Inspections taking longer (brokers spending more time watching over inspectors).
- Extensive interior photographs and 3-D scanning videos taken inside the house.
- 10 different types of square footage that appraisers must measure, make adjustments, report to lenders....and agents need to understand.
All of this will be uploaded to AMCs, lenders, and the GSEs. The class will also describe the information that will be accessible by the government, and possibly the public, creating privacy concerns.
This CE class will provide appraisers and real estate brokers with the information they will need to understand the requirements of this new appraisal era. The class will walk students through numerous real-world examples helping them to better understand the new process, technology, and information being assembled. Learn what's coming so you can help buyers and seller understand the issues and increased costs.
Who Should Attend:
- Appraisers
- Brokers
- Lending officers
3 CE hours for brokers and appraisers
Class registration $50