With constant changes in Federal Housing Administration policy and requirements, the elimination of the FHA exam, and FHA and Fannie Mae, appraisers need to keep abreast of the latest information on the FHA appraisal process. In this seminar, both experienced FHA appraisers and those new to FHA appraising will gain a high level of understanding and knowledge regarding FHA appraisal policy without having to read through myriad documents from the U.S. Department of Housing and Urban Development (HUD). Participants will receive a resource CD-Rom and other course materials containing essential FHA components and detailing the requisite policies and procedures of FHA appraisal. Information presented in this 7-hour seminar applies to ALL areas of residential appraising and will benefit any residential appraiser.
Upon completion of this seminar, participants should be able to:
- Identify HUD's appraiser eligibility requirements for placement on the FHA Appraiser Roster.
- Recognize HUD's guidelines that address unacceptable locations.
- Indentify 12 potential hazards that an appraiser should consider during the neighborhood observation process.
- Recognize property analysis issues for FHA appraisals.
- Identify issues related to FHA's General Acceptability Criteria.
- Recognize HUD's methodology for completing appraisal forms that include specific conditions for repair.
- Recognize essential information covered in Chapters 4, 5, 8, and 9, as well as the four appendices of the 4150.2 HUD Handbook.