Persistent Appraisal Failures: Dealing with CU

Persistent Appraisal Failures: Dealing with CU
Presented By: Richard Hagar, SRA

CU Version 3.1 and 3.2 are here and 4.1, 4.2, and more are due in the immediate future, all of which will be enforcing NEW and ever growing number of red flags and warning messages appraisers need to be prepared for. Plus, Hagar shows you the new warning letters that Fannie is sending to appraisers.

Purchase | Members Purchase
Description CU is increasingly introducing new red flags and warning messages related to adjustments, view and location data, accessory units, condo data, and much more! Hagar takes appraisers step-by-step through the new warning letters appraisers have been receiving due to CU’s new changes.

With Fannie Mae providing feedback almost immediately after an appraisal is submitted, it’s now more important than ever for appraisers to understand the most common appraiser warnings and failures so they can avoid the headaches that come with being flagged by CU.

In this webinar, Hagar shows how to navigate the new CU update and how to avoid problems in the most common areas, including:

• Relative Comparison vs. Fixed Definitions
• Condition vs. Updates
• Quality vs. Updates
• Actual Age vs. Effective Age
• Location Adjustments vs. Site Adjustments
• Support for Adjustments
• Use of MLS Photographs
• Comparables vs. Sales

This webinar untangles the rules, shows how the system operates, what is reported to lenders and what it takes to stay out of trouble as an appraiser.