Webinar Descriptions


What Realtors Need to Know About the Uniform Appraisal Dataset from Fannie Mae & Freddie Mac

 

Approved in Michigan for 2 hours of C.E. Cost $24.    Fannie Mae, Freddie Mac, FHA and VA now require appraisers to write their appraisal reports in a manner that complies with the Uniform Appraisal Dataset, also known as the “UAD.”  These appraisal reports contain new cryptic terms, abbreviations and acronyms that may not be easily understood.  Appraisers are also required to use new condition and quality rating definitions and applications of those definitions that will make obtaining financing for some properties more difficult and others impossible through Fannie Mae, Freddie Mac, FHA or VA.

This two-hour webinar is designed to help you understand appraisal reports written in this new UAD "language" and prepare you to successfully deal with how these new reporting requirements will affect you as a REALTOR® or real estate agent. 

Emphasis is on easy-to-follow illustrations and applications that will help you:

  • Understand the rationale behind this new "loan quality initiative"
  • Become familiar with the new condition ratings C1-C6 and quality ratings Q1-Q6 appraisers are required to use and apply
  • Identify the link and potential issues between certain quality and condition ratings and the ability to obtain financing
  • Differentiate between definitions for "updated" and "remodeled"
  • Interpret and understand appraisal reports written to these new UAD requirements

Taking a proactive approach toward these new UAD requirements will help you avoid mistakes when dealing with certain property condition and quality issues, serve your clients more effectively, and close more loans smoothly.

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Avoiding UAD Callbacks and “Stips” 

In late 2011, Fannie Mae and Freddie Mac implemented the Uniform Appraisal Dataset (UAD). This resulted in a number of major changes in the way appraisers communicate and deliver their appraisal reports. During 2012, Fannie Mae and Freddie Mac implemented a number of changes to UAD requirements for appraisers, and beginning in 2013 will enforce UAD requirements much more aggressively. Module One is designed to help appraisers comply with UAD requirements in an efficient and USPAP-compliant manner. Module Two of the series focuses on Condition and Quality rating system, parts of which are somewhat misunderstood by appraisers and their clients.

Module One
Approved for 3 hours CE; cost $45

Key points:

* Differentiating between condition and quality
* Identifying how to treat adjustments for remodeling and updating
* Determining when the “holistic” approach to property ratings applies and when it does not apply
* Recognizing the ramifications of the C5, C6 and Q6 ratings to avoid callbacks and stipulations from clients
* Understanding applicable assignment conditions by engaging in a series of illustrations and reporting examples, as well as guideline, liability and USPAP alerts regarding key Quality and Condition issues to assure compliance with applicable assignment conditions

Module Two
Approved for 2 hours CE; cost $30

Key points:

* Recognizing a lender’s responsibilities related to the appraisal data and integrity of that data
* Identifying the nuances of specific UAD required standardized responses and their accompanying instructions to avoid callbacks and stipulations from clients
* Understanding applicable assignment conditions by engaging in a series of illustrations and reporting examples, as well as guideline, liability and USPAP alerts regarding key UAD data fields

 

Inside Look:  Part two of a three part series.  A Detailed Guide to the Uniform Appraisal Dataset

Approved for 3 hours C.E. Cost $45.  This three-hour webinar is designed to help appraisers comply with the specific requirements of Fannie Mae and Freddie Mac's Uniform Appraisal Dataset.  Attendees will:

  • Review the objective of the program
  • Recognize the rationale behind standardized reporting
  • Identify specific requirements associated with the various sections of the URAR form
  • Recognize the new C1-C6 and Q1-Q6 conditions and quality rating system
  • Differentiate between definitions for "updated" and "remodeled"
  • Determine if condition and quality are reported as absolute or relative issues
  • Identify acceptable and unacceptable terminology

Emphasis is placed on examples, exercises and applications that will assist attendees in meeting the obligations of the new program in an efficient and proficient manner.

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Webinar: Residential Design Module One – What Makes a Good House Good

Approved for 2 hours C.E. Cost $30. This two-hour webinar explains the basic elements of design and how they are applied (or misapplied) to residential architecture. This webinar deals with the reasons and rationale behind buyer motivation and demonstrates how demographic issues and market segmentation are related to what buyers want.

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Webinar: Residential Design Module Two – Structure and Style

Approved for 2 hours C.E. Cost $30. This two-hour webinar provides a historical overview of the evolution of American Residential Architecture from both a structural and stylistic perspective. There are specific events and reasons behind the development of residential design in our country. This webinar explains those events and reasons in a manner that adds depth and meaning to your understanding of why houses look the way they do.

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Webinar: Residential Design Module Three – Floor Plan Analysis

Approved for 3 hours C.E. Cost $45. This three-hour webinar concentrates on interior design. Numerous designs are used to illustrate the relationship between floor plans and today’s lifestyles. A series of class exercises will enable you to better differentiate between functional and dysfunctional floor plans in terms that relate to the expectations of different market segments.

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