Description
As an underwriter or compliance professional, when you are asked to formally review the Uniform Residential Appraisal Report (URAR) Form, it will be necessary to reference USPAP standards, industry standards (Fannie Mae, Freddie Mac, FHA, VA) or even your company’s own lending standards. You’ll also need to identify if the appraisal meets standards for special loan programs such as the Rural Housing Service or some sort of assisted housing during your review. Immerse yourself in this succinct learner-driven course focusing on the Uniform Residential Appraisal Report (URAR) for single family properties. This course will help clarify general standards and help you recognize key aspects of the URAR as they relate to the mortgage loan file. The course explains how approaches to value are applied to help the appraiser and report reader come to reconcile the value of a property.
Audience: QC personnel, Underwriters
Common areas of weakness will be illustrated, and hints and tips will be dispensed, section by section of the form. You will learn what to look for and how to judge the adequacy and accuracy of the report.
After completing this course, students will be able to:
• Recognize unacceptable appraisal practices
• Be familiar with requirements for completing the URAR
• Identify common appraisal deficiencies
• Understand what Fannie Mae determines to be “unacceptable appraisal practices”
• Know how to complete the various parts of the URAR
• Identify danger areas in the URAR that may indicate fraudulent activities