Desktop Appraisals (Bifurcated, Hybrid) and Evaluations

NO DOUBT ABOUT IT, DESKTOP APPRAISALS ARE HERE TO STAY. Recently released by Fannie Mae, after March 19, 2022, loan casefiles meeting certain requirements will receive the option to obtain a desktop appraisal reported on Uniform Residential Appraisal Report (Desktop) (Fannie Mae Form 1004 Desktop).

As the world changes, so do processes and methods used in many businesses including the appraisal profession. While alternative appraisal services like bifurcated, hybrid, and desktop appraisals and evaluations aren’t new, they are becoming more popular. Many appraisers are uncertain about the general requirements of each service, how appraisal standards might apply, and how these services might create liability. This seminar will provide more clarity about the different services being requested and help you to decide if these services are for you. It will review the expectations of alternative appraisal services, potential uses, appraisal standard implications, scope of work, and liability concerns as it applies to residential and commercial assignments. And it will review evaluation formats and the business opportunities for them.

Some AI educational programs may not be approved in every state and every delivery format. To see a list of all state approvals across all formats for this course, please use the link below.

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• General and residential appraisers that serve lenders
• Lenders, appraisal management companies, private mortgage companies, mortgage service companies, portfolio lenders, and underwriters who are users of these appraisal services will benefit by gaining a better understanding of why an appraiser may not be willing/able to accept one of these assignments.

• Describe desktop appraisals, such as bifurcated and hybrid, and learn how and when they are used.
• Discover how real estate collateral is used inside federally regulated banks and financial institutions.
• Review the significant Federal and State laws governing all valuations — appraisals and evaluations — used for loan originations, modifications, and other subsequent transactions.
• Identify appraisal standards, Interagency Guidelines, lender requirements, and state law requirements for credentialed appraisers.
• Recognize the development and reporting differences that differentiate appraisals from evaluations and desktop valuation services. 

None

No Exam

Intermediate

Attend: 35 AI Points

7 hours

No

Table of Contents and Overview

None

None specified

Seminar Materials Include:

• Seminar Handbook (187 pp.)

None specified