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Overview:
This 7 hour continuing education class is designed to help you
understand the Uniform Mortgage Data Program (UMDP) initiative by
FannieMae.
Additionally, we will examine the recently released Interagency
Appraisal and Evaluation Guidelines.
The Uniform Appraisal Dataset (UAD) standardizes key appraisal
data elements to enhance data quality and promote consistency.
Appraisal reports were initially required to use the dataset by
January 1, 2011, but this effective date has been extended to
September 1, 2011. Although not required, the UAD may be used for
appraisals with effective dates prior to September 1, 2011.
The Uniform Collateral Data Portal is being developed “for the
electronic collection of appraisal data to minimize impact on
lenders.” While standardization will occur, the GSEs will each
have additional requirements for their appraisal data. Originally,
the GSEs indicated appraisal report forms must be delivered
through the UCDP after January 1, 2011. The effective date for
this requirement has been extended to December 1, 2011.
In this seminar you will learn:
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The standardized definitions and responses of the Uniform
Appraisal Dataset for a complete appraisal submission
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Allowable values from a list of choices provided for certain
fields
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Standardized abbreviations to allow more information to fit on
the printed forms
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Which agencies have adopted the Interagency Appraisal and
Evaluation Guidelines and the purpose of the guidelines
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Minimum appraisal development and reporting requirements
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Minimum review and validation requirements for appraisals and
evaluations
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The importance of identifying and complying with assignment
conditions
Length:
One day, 7-hour continuing education seminar.
Registration begins at
8:00 a.m.
and the seminar
begins promptly at
8:30
a.m.
and
ends at
4:30
p.m.
Suggested
Materials: None
Recording:
No audio recording or videotaping permitted.
Course
Fee: $125 if payment
received prior to course; $150 if payment is
received at the door.
Seating is usually limited.
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