- Date
- June 3, 2024
- Sponsor
- Southern New Jersey Chapter
- Location
- Virtual Classroom (zoom)
Zoom
08080
- Instructor
- Mark V. Smeltzer, MAI, SRA, AI-GRS, AI-RRS
- Class Time
- 7 hours
- Full Price
- $199.00
- AI Price
- $190.00
Course Description
NO DOUBT ABOUT IT, DESKTOP APPRAISALS ARE HERE TO STAY
Recently released by Fannie Mae, after March 19, 2022, loan casefiles meeting certain requirements will receive the option to obtain a desktop appraisal reported on Uniform Residential Appraisal Report (Desktop) (Fannie Mae Form 1004 Desktop).
As the world changes, so do processes and methods used in many businesses including the appraisal profession. While alternative appraisal services like bifurcated, hybrid, and desktop appraisals and evaluations aren't new, they are becoming more popular. Many appraisers are uncertain about the general requirements of each service, how appraisal standards might apply, and how these services might create liability. You'll gain more clarity about the different services being requested which will help you to decide if these services are for you. It will review the expectations of alternative appraisal services, potential uses, appraisal standard implications, scope of work, and liability concerns as it applies to residential and commercial assignments. And it will review evaluation formats and the business opportunities for them.
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Who Should Enroll
- General and residential appraisers that serve lenders
- Lenders, appraisal management companies, private mortgage companies, mortgage service companies, portfolio lenders, and underwriters who are users of these appraisal services will benefit by gaining a better understanding of why an appraiser may not be willing/able to accept one of these assignments.
AI CE Points
State Approvals
| State | QE/CE | Course & Exam | Course Only | Exam Only | Delivery Format | Approval Format | Start Date | Expire Date | State Code |
|---|---|---|---|---|---|---|---|---|---|
| AK | CE | 7 | 7 | Synchronous | Livestream | 05/30/2023 | 04/03/2026 | 19386 | |
| AL | CE | 7 | 7 | Synchronous | Livestream | 10/01/2022 | 09/30/2024 | C02600 | |
| AR | CE | 7 | 7 | Synchronous | Livestream | 06/01/2022 | 07/24/2025 | ||
| AZ | CE | 7 | 7 | Synchronous | Livestream | 04/17/2023 | 04/17/2026 | 73511 | |
| CA | CE | 7 | 7 | Synchronous | Livestream | 04/29/2024 | 04/28/2028 | 20CP754601427 | |
| CO | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/17/2026 | 2387 | |
| CT | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/12/2026 | ||
| CT | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/12/2026 | ||
| DC | CE | 7 | 7 | Synchronous | Livestream | 02/29/2024 | 02/28/2026 | 4085 | |
| DE | CE | 7 | 7 | Synchronous | Livestream | 04/17/2023 | 04/17/2026 | 73511 | |
| GA | CE | 7 | 7 | Synchronous | Livestream | 01/01/2023 | 04/17/2026 | 71930 | |
| HI | CE | 7 | 7 | Synchronous | Livestream | 01/01/2024 | 12/31/2024 | 23-328 | |
| IA | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/17/2026 | A518-1100 | |
| ID | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/17/2026 | ||
| IL | CE | 7 | 7 | Synchronous | Livestream | 01/01/2023 | 12/31/2024 | 575.010443 | |
| IN | CE | 7 | 7 | Synchronous | Livestream | 04/17/2023 | 04/17/2026 | 73511 | |
| KS | CE | 7 | 7 | Synchronous | Livestream | 01/01/2024 | 12/31/2024 | ||
| KY | CE | 7 | 7 | Synchronous | Livestream | 07/01/2023 | 06/30/2024 | ||
| LA | CE | 7 | 7 | Synchronous | Livestream | 04/27/2020 | 04/17/2026 | ||
| LA | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/17/2026 | ||
| MA | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 05/07/2025 | 120107 | |
| MD | CE | 7 | 7 | Synchronous | Livestream | 04/17/2023 | 04/17/2026 | 73511 | |
| ME | CE | 7 | 7 | Synchronous | Livestream | 04/17/2023 | 04/17/2026 | 73511 | |
| MI | CE | 7 | 7 | Synchronous | Livestream | 03/01/2024 | 04/17/2026 | 20-700337 | |
| MN | CE | 7 | 7 | Synchronous | Livestream | 06/01/2022 | 05/31/2024 | 1029540 | |
| MO | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/17/2026 | ||
| MS | CE | 7 | 7 | Synchronous | Livestream | 01/29/2023 | 07/27/2025 | MAB #50283 | |
| MT | CE | 7 | 7 | Synchronous | Livestream | 05/02/2023 | 04/17/2026 | REA-CEC-REC-16697 | |
| NC | CE | 7 | 7 | Synchronous | Livestream | 01/01/2024 | 12/31/2024 | 4367 | |
| ND | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/17/2026 | CE-223033 | |
| NE | CE | 7 | 7 | Synchronous | Livestream | 09/06/2023 | 09/06/2028 | 2233488.02 | |
| NH | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/17/2026 | ||
| NJ | CE | 7 | 7 | Synchronous | Livestream | 04/17/2023 | 04/17/2026 | 73511 | |
| NM | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/17/2026 | 4237 | |
| NV | CE | 7 | 7 | Synchronous | Livestream | 07/21/2023 | 07/31/2024 | CE.0009746-A | |
| NY | CE | 7 | 7 | Synchronous | Livestream | 01/01/2024 | 12/31/2024 | A5182-07 | |
| OH | CE | 7 | 7 | Synchronous | Livestream | 01/01/2024 | 12/31/2024 | 084402304A 22 | |
| OK | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/17/2026 | 807 | |
| OR | CE | 7 | 7 | Synchronous | Livestream | 05/01/2023 | 04/17/2026 | APIN-C-0323-8977 | |
| PA | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/17/2026 | ||
| PR | CE | 7 | 7 | Synchronous | Livestream | 04/17/2023 | 04/17/2026 | 73511 | |
| RI | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/17/2026 | REA.0001992-CE | |
| SC | CE | 7 | 7 | Synchronous | Livestream | 09/01/2022 | 08/31/2024 | CE1889 | |
| SD | CE | 7 | 7 | Synchronous | Livestream | 05/27/2023 | 04/06/2026 | SD 1411 CE | |
| TN | CE | 7 | 7 | Synchronous | Livestream | 06/26/2022 | 06/30/2024 | 2391 | |
| TN | CE | 7 | 7 | Synchronous | Livestream | 07/01/2024 | 06/30/2026 | 2391 | |
| TX | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/30/2025 | TX Provider #:10 Course #: 39422 | |
| TX | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/30/2025 | TX Provider #: 10 Course #:39422 | |
| UT | CE | 7 | 7 | Synchronous | Livestream | 06/01/2022 | 06/30/2024 | AC220604 | |
| VA | CE | 7 | 7 | Synchronous | Livestream | 04/17/2023 | 04/17/2026 | 73511 | |
| VT | CE | 7 | 7 | Synchronous | Livestream | 05/01/2024 | 01/26/2028 | CA-222779 | |
| WA | CE | 7 | 7 | Synchronous | Livestream | 03/17/2023 | 04/17/2026 | A23008194 | |
| WI | CE | 7 | 7 | Synchronous | Livestream | 04/17/2023 | 04/17/2026 | 73511 | |
| WV | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/17/2026 | ||
| WY | CE | 7 | 7 | Synchronous | Livestream | 04/18/2023 | 04/17/2026 | 1490 |
Course Objectives
- Describe desktop appraisals, such as bifurcated and hybrid, and learn how and when they are used.
- Discover how real estate collateral is used inside federally regulated banks and financial institutions.
- Review the significant Federal and State laws governing all valuations — appraisals and evaluations — used for loan originations, modifications, and other subsequent transactions.
- Identify appraisal standards, Interagency Guidelines, lender requirements, and state law requirements for credentialed appraisers.
- Recognize the development and reporting differences that differentiate appraisals from evaluations and desktop valuation services.
Course Details
Program Overview:
Table of Contents and Overview
Assignments:
No
Equipment:
None
Additional Information:
Seminar Materials Include:
- Seminar Handbook (187 pp.)
Requirements:
None specified
Prerequisites
None
Course Materials & Recommended Books
Pricing Options
| Rate | Full Price | AI Price |
|---|---|---|
| Standard
Today thru 06/03/2024 |
$199.00 | $190.00 |
Additional Course Offerings
| Sponsor | Date | Location | Format | ||
|---|---|---|---|---|---|
| Hampton Roads Chapter | June 3, 2024 | Synchronous | View Details | Register |
Event Information
Check in starts at 8:15am. Class begins at 8:30am. Lunch is 12-1230 (30min).
VIRTUAL CLASSROOM VIA ZOOM... Virtual Classroom-Live/Interactive Participation Guidelines: Students must have computer, webcam & microphone capability to participate & receive continuing education credit. The platform will be interactive and live. The instructor must be able to physically see and interact with all students and students must be able see and interact with the instructor. A copy of your driver’s license must be emailed to the Chapter office as verification after you have registered for the offering prior to the offering start date. You will receive a separate email from the Chapter Office with log-in/access information. You do not need a paid account from ZOOM to participate. If you are using your Ipad/Iphone/smartphone please download the ZOOM app prior to offering. Please check your webcam privacy settings on your computer. If you have a Lenovo laptop, you must have the Lenovo Vantage App installed on your computer for webcam to work. Check state approvals before registering to make sure the states you are licensed have approved the course/seminar and allow Virtual education in place of classroom education. Contact the chapter with questions regarding participation guidelines: lisamayweiss@hotmail.com