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Two Part Webinar Series with Richard Hagar, SRA
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“I took the Blacklisting webinar today and was not prepared for that information. I just took 28 hours of education the past 2 months, several of which were courses on the latest issues, the newest UAD developments, etc. None of the courses mentioned any of this. This is going to turn this profession upside down. That webinar on blacklisting this morning is the biggest surprise I’ve had in a long time. It’s very disturbing.” -V. Rose
“Richard did a very good job as usual.” – Jo Ann Meyer Stratton, IFA, SRA
Part 1: Keeping Off Fannie Mae’s New Appraiser “Black List”
Presented by: Richard Hagar, SRA
On-Demand: Available Now
Fannie Mae’s new Appraiser Quality Monitoring system (AQM) will “black list” appraisers who “break the rules.” Hagar starts with an overview of the new AQM system and then dives into the details by answering your most often asked questions on what the system is looking for, how it will work and, how appraisers will know if they are on the “Watch” or “Black List.”
Today’s AQM system, with its “Fatal Warnings” and “Critical Messages” takes a step beyond simple reporting by notifying lenders that reports from certain appraisers can no longer be submitted to the GSEs (the black list). For the most part, once you are on the list, you can no longer perform work for the Nation’s 15,000-20,000 lenders; you are out of business.
This Webinar untangles the new rules, shows how the system operates, what is reported to lenders and what it takes to get an appraiser on the “do not use” list. Hagar provides an easy-to-understand checklist of “dos” and “don’ts” and discusses the very latest intel on the specific mistakes Fannie is most concerned about and how to avoid them.
This 90 minute class will answer:
- What sort of problems are the GSEs looking for?
- How will I know if I’m on the black list?
- Will the appraiser be notified of problems with their appraisals?
- What will get me on the list and how do I avoid it?
- How will lenders know if an appraiser is banned from supplying appraisals?
- How do I get off the list once I’m on it?
Part 2: Fannie Mae’s AQM: Understanding Quality and Control Ratings
Presented by: Richard Hagar, SRA
On-Demand: Available Now
Fannie Mae is ramping up AQM which means increasing numbers of warning letters are being sent to appraisers for incorrectly or inconsistently applying Quality and Condition (Q&C) ratings across their appraisal reports.
Reviews indicate that appraisers are failing to consistently apply the right Quality Rating to subjects and comparables. As a result appraisers are subject to “gray” or “blacklisting” by Fannie Mae’s new AQM system. State boards are also beginning to file complaints against appraisers alleging incorrect Q&C ratings, making it more important than ever for appraisers to have a clear understanding of how to determine and apply Q&C ratings.
Richard Hagar shows appraisers how to navigate Fannie’s Q&C rating system and stay out of trouble with state boards and Fannie Mae.
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