Appraisal Course Descriptions

COURSE DESCRIPTIONS
Current Approved Courses

CLASSROOM

National 7-hour USPAP (#01700901): Approved for 7 hours C.E.  Mandatory 7 hours C.E. every license cycle. This is the 2016-2017 version of the 7-hour, National USPAP update published by the Appraisal Foundation.  The course is taught by an AQB Certified USPAP instructor and will fulfill your obligation to take the National USPAP update course once per continuing education cycle.  In addition to highlighting the changes to the 2016-2017 edition of USPAP, the course clarifies a number of commonly misunderstood USPAP issues and provides practical, real-world illustrations to help you in your daily practice. Cost: $150 MAREA members, $200 non-MAREA members, workbook is included. Textbook will be available for classroom use and may be purchased with advance notice for $85.

Michigan Licensing Law Review (#01700900): Mandatory 2 hours C.E. every license cycle. This two-hour course will discuss licensing laws at every level, the occupational code, and the governing boards, Michigan Consumer & Industry Services’ Board of Appraisers and the National Appraisal Foundation. Cost: Free for MAREA members, $60 non-MAREA members.

Appraising vs. Assessing (#1857): Approved for 7 hours C.E. in MI. This course seeks to discuss and understand the commonalities and differences in the systematic processes used in professional appraising and assessing.  We will compare and contrast the viewpoints of appraising for property taxation purposes and that of appraising for a client.

Additionally, this course will give appraisers a better understanding of those appraisals completed by assessors and will provide the student with a set of best practices tools and insights for dealing with property tax appeals.

Cost: $150 MAREA members, $200 non-MAREA members.


Common Questions asked by Residential Appraisers: Part I (#1761): Approved for 7 hours C.E. in IN, MI & WI. This seminar is the first of a series on questions commonly asked by Residential Appraisers.  The seminar includes an abundance of practical information that can be immediately applied to a residential appraiser’s daily practice.  For example, your client calls and “reminds” you that Fannie Mae requires comparable properties that have sold in the last six months.  You respond with a quotation from the new selling guide stating that is no longer the case.  Or your client calls with a request to change some items on your report.  Is it a new assignment or simply a new report?  This seminar will enable you to deal with such situations and many others in an efficient and cost-effective manner.

The questions answered in this seminar are:

  • What are the most significant changes to the new Selling Guide from Fannie Mae?
  • What parts of the 1004MC need to match up with pages one and two of the URAR?
  • What’s the latest on the Appraiser Quality Monitoring program from Fannie Mae?
  • How can I better understand the UAD condition and quality ratings?How do I properly identify the intended use and intended user(s) in non-lending assignments?
  • How do I know if a hypothetical condition or extraordinary assumption is needed and what’s the difference?
  • What is an "arms-length" transaction and are REO and Short Sales considered “arms-length?”
  • When can I change a report and at what point does it become a new assignment?

Cost: $150 MAREA members, $200 non-MAREA members.


FHA/HUD Update 2015 (#1864): Approved for 7 hours C.E. in MI. This course is designed to familiarize Appraisers with current FHA/HUD appraisal requirements. Special attention will be given to the adoption of the requirements outlined in the new comprehensive Single Family Housing Policy Handbook 4000.1 that are required for all FHA appraisal assignments completed after September 14, 2015. There will also be a review of appraisal related reference materials including Minimum Property Requirements (MPR) and Minimum Property Standards (MPS).

Discussions will include an overview of HUD appraisal guidelines as outlined in HUD Handbook 4000.1. Segments of the class will focus on HUD guidelines as they pertain to property inspections, required documentation, general reporting requirements and the 203K program. Each participant will receive a CD library containing copies of SF Handbook 4000.1, along with other essential reference materials that every FHA approved appraisers should have at their fingertips.
Cost: $150 MAREA members, $200 non-MAREA members.


FNMA’s Collateral Underwriter: WHAT IS IT LOOKING FOR?: (#1884) Approved for 7 hours C.E. in MI. After all segments, the student will be exposed to the Collateral Underwriting program and be able to better understand the origin, history and basic concepts of the Fannie Mae Collateral  underwriting (CU) program and process. In varying segments,  the CU process and system of automated review will be examined.  This will lead the appraiser to be better prepared when completing the FNMA URAR 1004 mortgage appraisal and process.  A better understanding of guidelines, explanations and rationale’s will result in a more comprehensive and a higher review score is hoped as the result. 
Cost: $150 MAREA members, $200 non-MAREA members.


Functioning in the Role of: Supervisory/Trainee Appraiser (#1760): Approved for 5 hours C.E. in MI. The overall course objectives are to familiarize the student to the proper role of the Supervisory and Trainee Appraiser.  Specifically providing adequate information to ensure both the Supervisory Appraiser and the Trainee Appraiser understands the qualifications and responsibilities of their respective roles. Cost: $105 MAREA members, $135 non-MAREA members.


Identifying Comparable Properties and Quantifying Adjustments (#1659): Approved for 7 hours C.E. in MI.  This course is designed to provide guidance in the selection of comparable sales.  The course examines the rationale in the selection of a sale as a comparable and considers:

  1. Conditions of the sale
  2. Market conditions
  3. Location characteristics
  4. Physical characteristics

The ultimate goal is to assist the appraiser in understanding the selection process and being able to defend, if necessary, the selection, or exclusion, of specific comparable sales data.  Additionally, guidance is provided in the analysis of the selected sales data to quantify necessary adjustments.  Cost: $150 MAREA members, $200 non-MAREA members.


Navigating the URAR 2-4 Family FNMA Form 1025 (#1697) Approved for 7 hours of C.E. in MI.  After all segments, the student will be able to better understand the current overall process of both the method of valuation and the mortgage underwriting concepts as they relate to the small income producing 2-4 family (form 1025).  This course is a section by section review of the URAR form 1025 and form 216 Operating Income Statement.  The goal of this course is to decrease the revisions requested by U/W saving both the appraiser and lender time in the mortgage process. 

This class will include additional discussion and updates on the current GSE/lender/appraiser climate to include regulations effecting the appraisal profession to include:

  • The expected role the GSE’s plan to play in the coming year
  • new and existing AMC regulation including the most recent federal oversight of the State AMC regulation
  • FNMA recently released Collateral Underwriting and risk assessment as its impact.
  • Discussion of the direction FNMA has taken in 2015 with regard to support for adjustments and its effect on appraisers
  • Update on current numbers for the FNMA exclusionary list of appraisers

Cost $150 MAREA members, $200 non-MAREA Members.


Persistent Problems with Residential Appraisal Reports (#1927): Approved for 7 hours C.E. in MI. The purpose of this seminar is to ensure that Residential Appraisers fully comply with USPAP in a number of key areas that are often overlooked even by competent, experienced appraisers.  The results of several recent lawsuits against major lenders were influenced by the plaintiffs raising the issue of USPAP non-compliance for items that may have had little effect on value but were nonetheless non-compliant with USPAP.  Consequently, lenders are now questioning and stipulating appraisers with regard to a number of previously ignored areas.

This seminar will assist Residential Appraisers in maintaining overall USPAP compliance in a manner that will have minimal impact on productivity and result in fewer callbacks and stipulations from lenders and Appraisal Management Companies.
Cost: $150 MAREA members, $200 non-MAREA members.


The Appraisal Process (#1092): Approved for 7 hours C.E. in MI & WI.
  The objective of this course is to re-familiarize the student with the basic appraisal principles and procedures as related to residential appraising.  Cost: $150 MAREA members, $200 non-MAREA members.


Underwriting and the URAR Mortgage Appraisal (#1589): Approved for 7 hours C.E.in MI.  This appraisal class is designed for those appraisers involved with lenders preparing the appraisal for in use in the mortgage lending process, with specific attention given to the URAR Mortgage Appraisal form 1004.  The appraisal form is taken section by section discussing traditional problem areas between appraiser and underwriting to better understand myth from fact.  The goal of this course is to decrease the revisions requested by U/W saving both the appraiser and lender time in the mortgage process.  Further, to help underwriters and appraisers this course will enhance their understanding of our respective goals. 

This class will include additional discussion and updates on the current GSE/lender/appraiser climate to include regulations effecting the appraisal profession to include:

  •  The expected role the GSE’s plan to play in the coming year
  •  new and existing AMC regulation including the most recent federal oversight of the State AMC regulation
  •  FNMA recently released Collateral Underwriting and risk assessment as its impact.
  •  Discussion of the direction FNMA has taken in 2015 with regard to support for adjustments and its effect on appraisers.
  •  Update on current numbers for the FNMA exclusionary list of appraisers

Cost: $150 MAREA members, $200 non-MAREA members.


What Appraisers Should Know About Assessing  (#1947): Approved for 7 hours C.E. in MI and 6 hours for Assessors. This course provides an in depth look at the assessing process in Michigan. Major topics covered are property tax law, abatements, exemptions, the equalization process and the calculation of taxable value. The material will provide a frame-work to allow fee appraisers to evaluate and understand the assessing process and how assessed and capped values are calculated. Participants will also be exposed to the methodologies used by assessors and equalization departments to complete annual appraisal studies. The course will conclude with a detailed examination of how Taxable Value is calculated.

Cost: $150 MAREA members, $200 non-MAREA members.

 

 

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