Appraisal Regulations and Guidelines Update 
7-Hour Course

Overview:

This 7 hour continuing education class is designed to help you understand the Uniform Mortgage Data Program (UMDP) initiative by FannieMae.   Additionally, we will examine the recently released Interagency Appraisal and Evaluation Guidelines. 

The Uniform Appraisal Dataset (UAD) standardizes key appraisal data elements to enhance data quality and promote consistency. Appraisal reports were initially required to use the dataset by January 1, 2011, but this effective date has been extended to September 1, 2011. Although not required, the UAD may be used for appraisals with effective dates prior to September 1, 2011. 

The Uniform Collateral Data Portal is being developed ￿for the electronic collection of appraisal data to minimize impact on lenders.￿ While standardization will occur, the GSEs will each have additional requirements for their appraisal data. Originally, the GSEs indicated appraisal report forms must be delivered through the UCDP after January 1, 2011. The effective date for this requirement has been extended to December 1, 2011.

In this seminar you will learn:

• The standardized definitions and responses of the Uniform Appraisal Dataset for a complete appraisal submission
• Allowable values from a list of choices provided for certain fields
• Standardized abbreviations to allow more information to fit on the printed forms
• Which agencies have adopted the Interagency Appraisal and Evaluation Guidelines and the purpose of the guidelines
• Minimum appraisal development and reporting requirements
• Minimum review and validation requirements for appraisals and evaluations
• The importance of identifying and complying with assignment conditions

Length:  One day, 7-hour continuing education seminar.  Registration begins at 8:00 a.m. and the seminar begins promptly at 8:30 a.m. and ends at 4:30 p.m.

Suggested Materials: None

Recording:  No audio recording or videotaping permitted.

Course Fee:  $125 if payment received prior to course; $150 if payment is received at the door.  Seating is usually limited.