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AllRegs Academy’s Instructor-Led Online Courses offer you the opportunity to learn from industry-recognized instructors from the comfort of your office.
The appraisal is an essential part of the mortgage process, as it assigns value to the home being purchased. But with the various types of appraisal reports and an ever-changing market, appraisals have become more difficult to evaluate when making loan decisions.
AllRegs Academy’s Collateral Analysis: Reviewing Appraisals provides an in-depth overview of the appraisal and the steps taken in developing an estimation of value. It is designed for students new to the appraisal review process. The target audience would include processors, junior underwriters, quality control staff, and anyone who wants to better understand the appraisal review process when making loan decisions.
Participants will be introduced to commonly used terms and definitions, requirements set by USPAP, that effect the responsibility of the appraiser, to underwriting guidelines set by Fannie Mae, Freddie Mac, FHA and VA, that will affect underwriting decisions. In addition, each section and line item of appraisal forms, used for all loan types and the applicable addendums, will be covered in detail.
By the end of the course students will have a clear understanding of how the value of property is determined, what should be expected from the appraiser and, the ability to recognize inconsistencies or red flags as they relate to the determination of value.
Classes consist of four 90-minute live sessions with instructors delivered through the WebEx conferencing platform.
Choose from the upcoming four-week course sessions:
Michelle Gray is currently an underwriting manager for a mortgage company in Virginia. Michelle started in the mortgage industry in 1988 as the receptionist and worked her way up to processing mortgage loans and then onto underwriting them. Read Full Bio »
What do you hope your students learn from this course? In every class I teach, I hope my students leave with a thorough knowledge of the subject I'm teaching in addition to knowing what resources are there for them to find the answers to things they might not know or run into later. For FHA, I want them to be able to go into a FHA file and be able to tell if it meets FHA guidelines. For VA, the same thing, want them to know if the loan meets the VA guidelines which are cumbersome to say the least! If it's a collateral analysis class, I hope that I focus on the main issues on the URAR and show them how to determine if the appraisal is a good one.
Michael D. James is the Community Development Director for Lee County, Virginia. In this capacity, he manages economic development and affordable housing activities as well as serving as Zoning Administrator for the county. In addition, he has 20 years of private sector mortgage banking experience in a variety of origination, training and underwriting positions. Read Full Bio »
What do you hope your students learn from this course? I hope to provide a slightly different view point on the topic. I have been the salesman trying to get underwriting to approve a deal, and I have been the underwriter listening to the salesman’s plea to approve the deal. I hope to share my well-rounded perspective with the students.
Upon completion of the course, students will be able to:
Participants will be provided a student manual for each of the four sessions.
Participants will be required to complete an assessment at the end of each of the four sessions to assess mastery of the content.
To receive the Certificate of Completion participants must receive a course total of 75% or greater.
The course is $365 per person. Tuition includes all course materials. Upon successfully completing the course, students will earn an industry-recognized certificate of completion.
Topics Review Definitions Market Conditions Addendum Form 1004MC Declining Markets Data Resources Fannie Mae Announcement 08-30 (11-24-08) and updated Selling Guide: Fannie Mae Single Family, June 30, 2010Objectives Define appraisal terms and acronyms Recognize sources of data Analyze the new Market Conditions Addendum Form 1004MC Understand lender’s requirements and communications with appraisers Be aware of updates and clarifications for: UAD Seller Concessions’ Selection of Comparables Depreciation Verification of Data Recognize the use and importance of Exhibits
Topics The Uniform Residential Appraisal ReportObjectives Analyze information contained in the Uniform Residential Appraisal Report Identify exhibits that an appraisal report should contain List requirements that a lender may request Recognize policies for appraiser certifications
Topics Certifications and Assumptions and Limiting ConditionsObjectives Explain the Certifications and Assumptions and Limiting Conditions Section of the appraisal Accurately review an FHA appraisal Accurately review a VA appraisal
Topics Review Appraisal Samples of Inconsistencies Objectives Recognize appraisal inconsistencies
Click here to download the Full Agenda »
For more information, call our sales and customer service department at (800) 848-4904 or email email@example.com.
The training sessions utilize WebEx technology in conjunction with audio conferencing. Polling capabilities, live chat, and question & answer sessions allow participants to easily interact with subject matter experts. The course format consists of weekly 90-minute sessions, over a three- to four-week period. Prereading and exercises are included and accessed through the AllRegs Academy Learning Management System.Participants are required to complete assignments prior to each session.*An assessment will be given at the completion of each session and not at the end of the course. A total course score of 75% or better will enable students to receive a Certificate of Completion.
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Working with our corporate training solution team, we can help assess your staff and diagnose your training needs. We have a test bank of more than 1,000 questions and will incorporate assessments on your company-specific topics, policies, overlays, or procedures. In combination with our full suite of training solutions, we can design a professional development program to fit your company’s needs. » Learn More About Custom Training
Transform the way you look at mortgage compliance, mortgage guidelines and mortgage training. With AllRegs, you will find Fannie Mae underwriting guidelines, FHA servicing guidelines, FHA underwriting guidelines, FNMA guidelines, state compliance, and more all in one place. Find mortgage education, like affordable SAFE act training, and improve your mortgage policies to bring your business or performance to the next level.