Book Description

Publisher marketing: The 5th Edition incorporates the most recent Fannie Mae appraisal form (1004) dated 2006. This is a well-organized and readable guide, possibly the best in the market. It is an excellent reference book for appraisal office staff, the appraiser, loan officer, in-house reviewer or DE underwriter. This 357-page reference and training manual is currently used by several national mortgage companies to train underwriters, reviewers and appraisers. IndyMac Bank, Option One Mortgage and GE Capital are a few of the mortgage companies that use this manual for training. The manual has received good reviews from all users and trainers. It is a valuable desktop guide for appraisers, reviewers and mortgage underwriters. Guidance for isolating the typical errors in a residential appraisal report as well as the identification of violations of the USPAP, FNMA Guidelines and FIRREA regulations is outlined in the manual. A unique approach to the standardization and segregation of the adjustments within the sales comparison approach is introduced. The manual includes activities with solutions to demonstrate the procedure of developing, underwriting and reviewing a residential appraisal report Features: The manual is shipped in a perfect bind 8.5" x 11" softback. The 5th Edition (March 2007) has more than 350 pages, almost double the size of the previous version. Benefits: * This manual will provide the tools and reasoning to determine the quality of a residential appraisal report and the validity of the value estimate, * This manual will also act as guide for the completion of a residential appraisal report. * This guide can be used to train appraisal, underwriting and review staff. * It is an excellent distance learning and training tool.