Course: Review Theory – Residential
February 1, 2024 - February 2, 2024
This course is still under construction as we work out the logistics to bring this “LIVE” 2-day offering to the Bay Area in February 2024.
This course may be applied toward earning the AI-RRS Designation.
All reviewers of residential appraisals should take this fundamental course. You will explore the seven steps in the process as they apply to reviews of residential work including, but not limited to, those subject to GSE requirements. To be a reviewer, an appraiser must learn how to develop opinions of completeness, accuracy, adequacy, relevance, and reasonableness relative to the work under review. These opinions must be refined through tests of reasonableness to develop reconciled opinions of appropriateness and credibility. You’ll see how requirements of the review process compare with those of the Fannie Mae Form 2000/Freddie Mac Form 1032, One-Unit Residential Review Form as well as other GSE documents such as the Fannie Mae Selling Guide. You’ll also review complex or challenging residential review assignments such as those involving limited data, nonconforming properties, less common ownership types, or unusual properties such as geodesic domes and hobby farms. By taking this course, you’ll gain invaluable confidence in the fundamentals of review.
– Define review
– Distinguish between appraisal and review
– Evaluate the necessary knowledge and skills required to complete reviews
– Distinguish between trivial and material errors
– Identify types of review assignments and the process employed in the reviewer’s scope of work
– Recognize regulatory compliance issues for review appraisers
– Identify the steps necessary to communicate the review effectively
Watch for more details to be posted; exact dates are not yet available.