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1:30pm to 3:30pm |
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Fannie Mae and Freddie Mac's Appraisal Requirements
(Presented by Richard Hagar)
What Fannie Mae and Freddie Mac demand in an appraisal.  | WEBINAR TIME:
11:30AM - 1:30PM PT
12:30PM - 2:30PM MT
1:30PM - 3:30PM CT
2:30PM - 4:30PM ET |  |
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Do you want to sell loans to FannieMae? An institution's appraisal process, the appraisal, type of form and the appraiser all impact your institution's ability to sell to FNMA. FNMA has a list of 20 unacceptable appraisal practices. If an appraisal contains, or was created using, these unacceptable practices, FNMA won't buy the loan. This class will outline and explain the issues.
We will also have a brief overview of the important points of the "Sellers Guidelines" as well as the most recent announcements. This class is designed for appraisers, review appraisers, underwriters and bank compliance officers. Loan officers will also gain an understanding into the appraisal issues that can kill or make their loan.
Let an appraiser, who worked for a major lender, guide you through Fannie's requirements and help make your compliance life easier.
Define Appraisal (Verbal vs. Oral)
Appraisal review - who's looking for what
The most common problems that lead to appraisal and loan file rejection
Overview of the Seller's Guidelines
FNMA's most recent Announcements
Who can provide an appraisal
What the appraisals must have
Addenda,
sketches,
cost approach,
source for cost data
Highest and Best Use concerns
Common appraisal failures that can hurt your institution.
The Speaker:
Richard Hagar has more than 30 years experience in real estate, he's the owner of an appraisal company, the owner of many properties, and
the co-author of the Washington Mortgage Brokers Practices Act. He's seen the business from all sides and has authored such works as How
to Spot and Identify Real Estate & Mortgage Fraud. He knows how the business works and what you need to do from your side to ensure the
appraisal is reliable and meets regulatory requirements.
More information...
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