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The Mortgage Bankers Association (MBA) on Tuesday announced its submission of a letter to the U.S. Clearer guidelines and training programs emerged in the early 2000s for propertyinspectors, and the following decade saw additional technology regularly employed by inspectors to accomplish their tasks.
There are big changes coming to appraisals, and they’ll have a huge impact on how the mortgage industry does business. Access our appraisal training courses here. Here’s a quick list of what you should look for in an AMC: They’re licensed in the state where the mortgagedproperty is located. They’re insured.
There are big changes coming to appraisals, and they’ll have a huge impact on how the mortgage industry does business. Access our appraisal training courses here. Here’s a quick list of what you should look for in an AMC: They’re licensed in the state where the mortgagedproperty is located. They’re insured.
And, with this inspection a traditional appraisal is no longer a requirement for the mortgage loan. Related Posts: Exactly How Are Property Data Collectors Professionally… Somebody explain to me exactly how Property Data Collectors are “professionally trained” per Fannie Mae directives.
Currently, these data collectors have no standardized training or license requirements. The difference I see between this example and the appraisal profession is that the medical assistant requires extensive training and education through an accredited training program while the appraisal data collector for hybrid appraisals does not.
During my presentation, I reviewed with the audience a number of appraisal scenarios that have been common practice for decades – often in spaces outside of first mortgage lending. Nevertheless, it reminds us of the broad spectrum of scopes of work possible in appraisal practice.
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