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Baton Rouge Home Appraiser Attends Appraisal Institute UAD Aftereffects Class

Baton Rouge Home Appraiser Attends Appraisal Institute UAD Aftereffects Class

Published by Bill Cobb, Greater Baton Rouge's Home Appraiser
225-293-1500
http://www.homeappraisalsbatonrouge.com

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Baton Rouge Home Appraiser Attends Appraisal Institute UAD Aftereffects Class

  1. 1. activerain.trulia.com http://activerain.trulia.com/blogsview/3562343/louisiana-appraisers-attend-appraisal-institute-uad-aftereffects-class Louisiana Appraisers Attend Appraisal Institute UAD Aftereffects Class Bill Cobb Louisiana Home Appraisers Attend Appraisal Institute Seminar - UAD Aftereffects: Efficiency vs. Obligation On December 19, I was fortunate to have attended Appraisal Institute Seminar, "Uniform Appraisal Dataset Aftereffects: Efficiency vs. Obligation", taught by incoming President Elect, Rick Borges, II, MAI, SRA. Read the complete seminar description below. First, my compliments to Dee Fazzio for hosting / meeting / greeting and choosing such an outstanding location for the seminar. The location and hospitality of the day was absolutely perfect, as was the company of fellow Appraisers. Special, Special Thanks To Dee and The Louisiana Chapter of the Appraisal Institute for a day CE like I've never experienced before! Appraisal Institute President Elect Rick Borges, II, MAI, SRA All I can say about "Rick", as we instructed to call him, is that he's just cool and so funny. He made learning so much fun during the experience and fielded lots of our questions, with respectful, thoughtful answers! At 59 years old and over 30 years as an Appraiser in the field, primarily a VA Appraiser and RE Agent, The Appraisal Institute will be a better organization in 2013 with he at the helm!
  2. 2. Appraisal Institute UAD Class Adapting To New Conditions and Rating System Has Been Challenging The day was invested in going through the 208 page manual along with 49 page solutions booklet for future reference, mainly covering the highlights, what Fannie Mae is looking for in reviews and their data collection from Appraisers. We learned that to date, Fannie Mae has already uploaded 3,000,000 appraisal reports to their UCDP computers and that January 13, 2013 is the day when Fannie Mae begins holding Appraisers accountable for the report data they enter. For example, if you state that comp. #1 at 12345 Main Street has a Q or quality rating of Q3 and C or condition rating of C4, then those Q3 and C4 need to be used for that comp into the future unless there is verfiable evidence to alter. Fannie Mae is monitoring what Appraisers state in reports for future consistency. One Appraiser in Indiana has already been temporary disciplined for 90 days over an inconsistency, which was later rescinded when that Appraiser provided documentation from RE Agent backing his C rating. It was eye-opening day for Appraisers and reminder that we must take our profession very, very serious into the future. QUICK AI LOUISIANA CHAPTER MEETING!
  3. 3. Cheryl Bella MAI Addressing Louisiana Appraisal Institute Chapter Louisiana Appraisal Institute Chapter Leadership Being Sworn In. From Left To Right: Cheryl B. Bella, MAI, Zachary J. Derbes, MAI and Joseph A. Mier, SRA. Past La Chapter AI President, Kelly Johnson, SRA,
  4. 4. photographing. Appraisal Institute Class Metairie Country Club December 2012 Appraisal Institute Class Metairie Country Club December 2012 - Rear View of Country Club...yes we were in New Orleans...and there were ghost present! Appraisal Institute Class Metairie Country Club December 2012 Looking Towards Northline Blvd Appraisal Institute Class Break Time Metairie Country Club December 2012 Louisiana... yes we were in New Orleans...and there were ghost present! Appraisal Institute Class Luncheon Metairie Country Club December 2012 Appraisal Institute Class Luncheon Metairie Country Club December 2012 Bread Pudding With Rum Sauce A Special Treat was being able to walk down Northline Boulevard and view the rows of million dollar homes near the class location. Aerial View showing Northline Blvd location near Metairie Country Club
  5. 5. Northline Blvd Million Dollar Homes Near Metairie Country Club Louisiana Northline Blvd Tree Lined Streets Near Metairie Country Club Northline Blvd Million Dollar Homes Near Metairie Country Club Louisiana Northline Blvd Million Dollar Homes Near Metairie Country Club Louisiana Northline Blvd Million Dollar Home Under Construction Near Metairie Country Club Louisiana Seminar Description: "The Louisiana Chapter of the Appraisal
  6. 6. Institute will be offering the 7-hour "Uniform Appraisal Dataset Aftereffects: Efficiency vs. Obligation" seminar on December 19, 2012 in Metairie, LA. Richard L. Borges II, MAI, SRA, President- Elect of the Appraisal Institute for 2012, will be instructing the seminar and guest speaker, Bruce Unangst, Executive Director of the Louisiana Real Estate Commission, will update attendees on what LREAB has been doing in reference to the AMC enforcement rules. Register now online to guarantee a seat - seating is limited! Most residential appraisers recognize their new obligations under the Uniform Appraisal Dataset and the associated Uniform Collateral Data Portal; however, remaining efficient in the context of fulfilling such obligations has become a new
  7. 7. challenge. Appraisers, lenders, underwriters, and appraisal management companies all seem to assert their own ideas on the issue of UAD compliance as they navigate through the adjustment process of both the UAD and UCDP. Consequently, many appraisers misapply intended requirements and waste time on unnecessary details. Designed to help students efficiently distinguish required from non-required data for UAD compliance, this seminar educates participants on how to: reconcile conflicting UAD requests from different clients; recognize how UAD data is collected and analyzed; and stay informed of ongoing UAD changes from
  8. 8. Fannie Mae and Freddie Mac. Upon completion of the seminar, participants will be able to: Understand how the UCDP acts as a gate-keeper by checking appraisal reports for UAD compliance, thus avoiding non-compliance and increasing efficiency. Recognize how UAD data input is being collected, monitored and analyzed on individual and aggregate levels by Fannie Mae and Freddie Mac. Know how such UAD monitoring may affect and influence future appraisal reporting. Recognize commonly misinterpreted UAD data fields and nuances by reviewing extensive and varied "real-world" illustrations collected from appraisers. Identify UAD-specific
  9. 9. guideline changes and guidance from Fannie Mae and Freddie Mac. Search Fannie Mae and Freddie Mac web sites from an appraiser's perspective to stay abreast of appraisal- and UAD-related changes. Understand the lender's obligations when using third-party vendors to manage and control the appraisal process under the UAD. Recognize a lender's obligations when selecting an appraiser under the UAD requirements." SPECIAL THANK YOU to the Louisiana Chapter for the cool red laser pointer pens. Shared By Bill Cobb Appraiser in Baton Rouge (Photo taken by Dee Fazzio, Thank You Dee!). And, actually, no "Ghosts" were
  10. 10. spotted. That was the "Pro HDR" app on my Samsung Galaxy Note 2 phone taking enhanced color photos for the event and some people just happened to be moving during the photos. Special Thanks To Denham Springs Appraiser, Roger Carter, for making the drive with me and keeping me awake on the way there and back. For More Information On The Louisiana Chapter of The Appraisal Institute, visit Louisiana Chapter of the Appraisal Institute Disclaimer: Trulia, Inc. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when
  11. 11. buying or selling a house. Trulia, Inc. takes no responsibility for the content in these profiles, that are written by the members of this community. © 2014 Trulia, Inc. All Rights Reserved Fair Housing: Fair Housing and Equal Opportunity

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