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Certain states require AMC staff to receive training to ensure they understand valuation independence regulations as well as other statutory requirements. Our free webinar, “ Components of AMC Training ” will be held on June 10th at 2 pm with Josh Walitt as the host. Buzz : Why do AMCs need the training?
The White House also says that it is aiming to change the nature of the appraisal profession itself, “taking steps to remove unnecessary educational and experience requirements that make it difficult for underrepresented groups to access the profession and to strengthen anti-bias, fair housing, and fair lending training of existing appraisers.”
There are several ways we can do that from how we allocate orders, set fee schedules, and handle reconsiderations of values. It’s important to make sure that your appraisal department and vendors are trained and understand all the criteria around each option. Consolidation and lower volumes. B) Property intelligence.
While agents and appraisers cannot discuss value we can talk about the property and why they may have priced it at what they did. One tool the agent uses to price the property is the Comparative Market Analysis or CMA, and by sharing this with the appraiser they can better understand what went into the agent’s pricing strategy.
By encouraging “pre-purchase” interviews, originators can help customers by exploring homebuyer assistance in any geographic location using tools such as Freddie Mac DPA One. Trained counselors can bring much-needed clarity to a complex process, even when customers are dealing with a highly competent realtor or loan officer.
While the basic approach involves the valuation of properties using comparable sales, the proper use of statistical tools, such as a correlation matrix, can significantly enhance the quality and objectivity of the appraisal process.
So one main difference between traditional lender appraisals and relocation appraisals is the forecasting aspect: whereas lender appraisals determine a current market value, relocation appraisals try to project what the sales price WILL be. a.iii(B)(9)) (a) Second Appraisal by Original Mortgagee Property Acceptability Criteria (II.A.3.a)
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