Credit Hours: 3.75
Alternate types of valuations are more common than ever with the appraisal shortage and changes in the regulatory requirements from the federal agencies. Dodd-Frank eliminated BPOs and AVMs as file documentation for residential lending in many loan packages. Discover when alternate valuations are being used, how to complete them, and how to remain compliant with appraisal reporting requirements. Understand how the Uniform Standards of Appraisal Practice (USPAP) view evaluations under the federal banking guidelines. You will discuss restricted reporting options and view sample report forms.
This course has been approved by the Minnesota Commissioner of Commerce for 3.75 hours of real estate continuing education.