This class explains the appraisal process as required by the various Federal Regulatory Agencies, laws, guidelines and Fannie Mae's internal requirements. Review appraiser Graham Albertini describes and discusses the laws and provides examples of how the laws were not followed by WAMU, which lead to their take over by the FDIC. This is an inside look at review appraising by someone who knows how it should be done and watched what happened when the rules were not followed.

The class will help explain how banks can perform 15 minute reviews and when its necessary to order full reviews. Knowing how to spot good appraisals, as well as bad, will help the lender save money and avoid compliance issues with the various regulatory agencies.