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RC_LP_P_200.4 Property Appraisal for Processors
Member Price: $49.00
Nonmember Price: $79.00
Product Code: DL2-011021-WC-W
Quantity:
Delivery Options: N/A







Description of Product
Description:

This is a single-family/residential course.

The purpose of the appraisal is to establish the current market value of the property and to determine if it is adequate collateral for the loan amount being requested. For this reason, the appraisal is perhaps the most important document in the loan package. It enables the mortgage banker to assess their financial risk in the event of default.

An appraisal is an estimate or an opinion of the fair market value of a property. The appraiser must identify, forecast, and measure the appropriate market and environmental conditions to determine a value estimate. The appraiser also supplies much-needed information about the neighborhood, the condition of the property, and market information about the subject property, as well as other properties that have recently sold in the neighborhood. A valuation tool is frequently a part of the functionality of an automated underwriting engine (also referred to as an automated valuation model or AVM). The degree to which this valuation affects documentation requirements for an individual file varies based on circumstance.

Property Appraisal for Processors will focus on the traditional Uniform Residential Appraisal Report (URAR), the standard appraisal form used in the industry. It begins with a look at the processor's role in ordering, monitoring, and reviewing the appraisal and then examines the components of the appraisal itself. The course will look more in-depth at the property description section of the report including the subject section, the contract, the neighborhood, the site, and the improvements to the property. Next, the course will examine the property valuation section, talking about the sales comparison approach and analysis, the cost approach, the income approach, and reconciling the three methods. Finally, the course will discuss evaluating planned unit developments and condominiums.

Topics:

  • Steps in the Appraisal Process
  • The Appraisal Report
  • Property Description Section
  • Valuation Section
  • Planned Unit Developments

    Seat time approximately one (1) hour.

    Copyright 2017.

     
  •  
    Product Category:
    Self-Study Web-Based Courses 
     
    Notes:
    This is a self-paced, self-study course. Enroll anytime and take up to 12 months to complete the course. 
     
    Contact Info:

    For registration information, call (800) 793-6222 or email education@mba.org.

     
     
    Contact E-mail:
    education@mba.org 
     
    Product:
    DL2-011021-WC-W 
     
    Title:
    RC_LP_P_200.4 Property Appraisal for Processors 
     
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