- Date
- May 1, 2024
- Sponsor
- Great Lakes Chapter
- Hampton Inn and Suites Flint/Grand Blanc, 6060 Rashelle Drive Location
- Flint, MI
- Instructor
- Lisa M. Meinczinger, SRA, AI-RRS
- Class Time
- 7 hours
- Full Price
- $220.00
- AI Price
- $195.00
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 | Classroom | Classroom | 05/30/2023 | 04/03/2026 | 19386 | |
| AL | CE | 7 | 7 | Classroom | Classroom | 10/01/2022 | 09/30/2024 | C02600 | |
| AR | CE | 7 | 7 | Classroom | Classroom | 06/01/2022 | 07/24/2025 | ||
| AZ | CE | 7 | 7 | Classroom | Classroom | 04/17/2023 | 04/17/2026 | 73511 | |
| CA | CE | 7 | 7 | Classroom | Classroom | 04/29/2020 | 04/28/2024 | 20CP754601427 | |
| CA | CE | 7 | 7 | Classroom | Classroom | 04/29/2024 | 04/28/2028 | 20CP754601427 | |
| CO | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | 2387 | |
| CT | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/12/2026 | ||
| DC | CE | 7 | 7 | Classroom | Classroom | 02/29/2024 | 02/28/2026 | 4085 | |
| DE | CE | 7 | 7 | Classroom | Classroom | 04/17/2023 | 04/17/2026 | 73511 | |
| FL | CE | 7 | 7 | Classroom | Classroom | 06/25/2022 | 06/24/2024 | 0010200 | |
| GA | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | 71930 | |
| HI | CE | 7 | 7 | Classroom | Classroom | 01/01/2024 | 12/31/2024 | 23-507 | |
| IA | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | A518-1100 | |
| ID | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | ||
| IL | CE | 7 | 7 | Classroom | Classroom | 01/01/2023 | 12/31/2024 | 575.010443 | |
| IN | CE | 7 | 7 | Classroom | Classroom | 04/17/2023 | 04/17/2026 | 73511 | |
| KS | CE | 7 | 7 | Classroom | Classroom | 01/01/2024 | 12/31/2024 | 183.C24.R | |
| KY | CE | 7 | 7 | Classroom | Classroom | 07/01/2023 | 06/30/2024 | ||
| LA | CE | 7 | 7 | Classroom | Classroom | 04/27/2020 | 04/17/2026 | ||
| LA | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | ||
| MA | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 05/07/2025 | 120107 | |
| MD | CE | 7 | 7 | Classroom | Classroom | 04/17/2023 | 04/17/2026 | 73511 | |
| ME | CE | 7 | 7 | Classroom | Classroom | 04/17/2023 | 04/17/2026 | 73511 | |
| MI | CE | 7 | 7 | Classroom | Classroom | 03/01/2024 | 04/17/2026 | 20-700337 | |
| MN | CE | 7 | 7 | Classroom | Classroom | 06/01/2022 | 05/31/2024 | 1029540 | |
| MO | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | ||
| MS | CE | 7 | 7 | Classroom | Classroom | 01/29/2023 | 07/27/2025 | MAB #50283 | |
| MT | CE | 7 | 7 | Classroom | Classroom | 05/02/2023 | 04/17/2026 | REA-CEC-REC-16697 | |
| NC | CE | 7 | 7 | Classroom | Classroom | 01/01/2024 | 12/31/2024 | 4367 | |
| ND | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | CE-223033 | |
| NE | CE | 7 | 7 | Classroom | Classroom | 05/04/2020 | 05/04/2025 | 2201426.02 | |
| NH | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | ||
| NJ | CE | 7 | 7 | Classroom | Classroom | 04/17/2023 | 04/17/2026 | 73511 | |
| NM | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | 4237 | |
| NV | CE | 7 | 7 | Classroom | Classroom | 07/21/2023 | 07/31/2024 | CE.0009746-A | |
| NY | CE | 7 | 7 | Classroom | Classroom | 01/01/2024 | 12/31/2024 | A5182-07 | |
| OH | CE | 7 | 7 | Classroom | Classroom | 01/01/2024 | 12/31/2024 | 084402304A 22 | |
| OK | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | 807 | |
| OR | CE | 7 | 7 | Classroom | Classroom | 05/01/2023 | 04/17/2026 | APIN-C-0323-8977 | |
| PA | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | ||
| PR | CE | 7 | 7 | Classroom | Classroom | 04/17/2023 | 04/17/2026 | 73511 | |
| RI | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | REA.0001992-CE | |
| SC | CE | 7 | 7 | Classroom | Classroom | 09/01/2022 | 08/31/2024 | CE 1889 | |
| SD | CE | 7 | 7 | Classroom | Classroom | 05/27/2023 | 04/06/2026 | SD 1411 CE | |
| TN | CE | 7 | 7 | Classroom | Classroom | 06/26/2022 | 06/30/2024 | 2391 | |
| TN | CE | 7 | 7 | Classroom | Classroom | 07/01/2024 | 06/30/2026 | 2391 | |
| TX | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/30/2025 | TX Provider #:10 Course #: 39422 | |
| UT | CE | 7 | 7 | Classroom | Classroom | 06/01/2022 | 06/30/2024 | AC220604 | |
| VA | CE | 7 | 7 | Classroom | Classroom | 04/17/2023 | 04/17/2026 | 73511 | |
| VT | CE | 7 | 7 | Classroom | Classroom | 04/20/2020 | 04/30/2024 | CA-6295 | |
| VT | CE | 7 | 7 | Classroom | Classroom | 05/01/2024 | 01/26/2028 | CA-222779 | |
| WA | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | A23008194 | |
| WI | CE | 7 | 7 | Classroom | Classroom | 04/17/2023 | 04/17/2026 | 73511 | |
| WV | CE | 7 | 7 | Classroom | Classroom | 04/18/2023 | 04/17/2026 | ||
| WY | CE | 7 | 7 | Classroom | Classroom | 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 05/01/2024 |
$220.00 | $195.00 |
Additional Course Offerings
| Sponsor | Date | Location | Format | ||
|---|---|---|---|---|---|
| Hampton Roads Chapter | June 3, 2024 | Synchronous | View Details | Register | |
| Southern New Jersey Chapter | June 3, 2024 | Synchronous | View Details | Register |
Event Information
Check in for class is 8:15. Class will begin at 8:30 a.m.
Lunch is included.