RC_LP_U_301.1 Analyzing the Appraisal
MBA Member Price: $49.00
Nonmember Price: $79.00Purchase
This is a single-family/residential course.
Appraisals are integral to the lending process because they ensure that the collateral pledged as security for the loan is adequate to the value of the loan. They ensure the collateral really does secure the mortgage obligation. Since inflated appraisals make it possible to obtain a loan well above the market value of a property, certain precautionary steps can be taken to ensure a reasonable appraised value. These steps include reviewing the appraisal information thoroughly, cross-referencing the consistency of data on the appraisal with the loan application and sales contract, and analyzing the comparable sales data to substantiate the appraised value.
Analyzing the Appraisal explores the appraisal review process and methods of analyzing property appraisals to ensure a reasonable appraised value. The course begins with a discussion of the importance of the appraisal review process and then explains how to determine value. Next, it discusses the different components of the appraisal report and how to review the comparable sales analysis. Lastly, it summarizes how to reconcile the final property value. The course ends with a look at the top 10 appraisal issues that underwriters encounter.
Seat time approximately one (1) hour.