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Course Description
Appraisal is an important part of the mortgage process. Understanding the appraiser’s role, responsibilities and processes will help you better serve your customers and help identify and prevent mortgage fraud. In the Appraisal Procedures course, you will first learn what lenders need to know about appraisers. You will learn about the qualifications one must meet to become an appraiser, review best practices of an appraiser in the field and review types of mortgage fraud and current fraud trends. Next, you will take a look at the valuation process, from defining important terms, understanding appraiser responsibilities during the process, explaining the Scope of Work Rule of USPAP and more.
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