A three (3) part series on the new Federal Laws that require lenders and appraisers to report certain violations of various laws, rules and guidelines. Increasing number of lenders will be turning appraisers in to Government Agencies when they identify USPAP appraisal failures. Failure to report violations will result in fines of up to $20,000 per day, per person. Each part of the series can be purchased individually.

Part 1:  Fines, Appraiser Independence Laws, and The Agencies That Require “Independence”
This module explains the  extensive new fines and penalties that banks and appraisers will be paying for poor action.  We will provide a list of agencies that require “appraiser independence” and applicable text from their guidelines.  (Lenders, appraisers and attorneys should review this 43 minute webinar)

Part 2:  Appraiser Independence
State and Federal law requires that the appraiser and the appraisal process must be independent from influence, coercion and pressure. Anybody, including a bank, AMC or employee of the institutions, who violate “appraiser independence” is subject to a fine of $10,000 per day. Part of “appraiser independence” is the requirement that the appraiser must be paid a “customary and reasonable” fee for their services. This section will explain the requirement, how easy it is to comply with the law and how an institution can check for compliance. HUD’s policy statements along with excerpts from Title XIV are included in this section. (1 hour webinar)

Part 3:  Mandatory Reporting
Anyone who becomes aware of USPAP violations must turn the appraiser into the Government, or face fines of $10,000 per day. In this module, you will learn what violations must be turned in, where they must be reported, and the form and format used for reporting.  You will also hear real world, every day examples of the types of appraisal situations and violations that will be reported going forward.  As a result of this new reporting requirement, we expect that the number of appraisers will decline and that institutional resources will be heavily burdened for reviewing appraisals and filling out paperwork.  Appraisers beware - this is going to change your profession! (1 hour webinar)

At this time, there is no Continuing Education (CE) credit for online classes.