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Online: Appraisal Standards (Individual)

Online: Appraisal Standards (Individual)

Price:

$299.00 - Online: Appraisal Standards (Individual)

$179.00 - Online: Appraisal Standards (Individual)

Description

Real estate appraisal regulations ensure that appraisals are performed by competent appraisers in accordance with uniform standards. The regulations are designed to help financial institutions avoid losses resulting from overvalued real estate collateral. This course will provide you with a complete guide to the appraisal standards you need to ensure you are in compliance. This course is intended for those personnel in charge of ordering appraisals, reviewing completed appraisals and performing real estate evaluations. Course length ≈ 46 minutes.

Learning Objectives:

  • Ensure proper policies and procedures regarding real estate appraisal are in place at your bank
  • Discuss the difference between state certified and state licensed appraisers
  • Ensure the appraisers your bank employs have the necessary qualifications

Course Outline:

  • Background
    • Regulation of Real Estate Appraisals
    • Effective dates
    • 2010 guidelines
    • State requirements
  • Administration
    • Appraisal and evaluation programs
    • Timing of appraisals and evaluations
    • Compliance procedures
    • Written critique
    • Useful life of appraisals or evaluations
    • Material changes to reported values
    • Reappraisals and reevaluations of the collateral
    • Deciding to reappraise or reevaluate
    • Readdressed appraisals
  • Transactions Requiring Appraisals
    • Transactions requiring a state certified or state licensed appraiser
    • Transactions requiring an evaluation
    • Appraisals to address safety concerns
    • Complex and non-complex appraisals
    • Transactions that require a state certified appraiser
  • Appraisers
    • Appraiser qualifications
    • Appraiser independence
    • Certified residential real estate appraisers
    • Professional association memberships and appraiser competence
  • Other Real Estate Appraisal Requirements
    • Temporary appraisal exemptions for disaster areas
    • Enforcement
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