Fannie Mae on Thursday will present an appraisal training via digital network in seven states in an effort to help rural real estate appraisers and professionals better address and understand issues related to secondary-market appraisal, manufactured housing, underwriting and eligibility requirements.
Appraisers, Realtors, lenders, underwriters, loan officers and originators from Iowa, Minnesota, Montana, Nebraska, North Dakota, South Dakota and Wyoming will participate. The three-hour course, “Fannie Mae and the Appraisal Process,” will be presented in South Dakota from 2:45 p.m. to 5:45 p.m. CT and transmitted simultaneously via videoconference technology to the other locations.
During the videoconference, instructors will discuss how to use Fannie Mae’s Desktop Underwriter automated underwriting system to streamline the appraisal process. Also, participants will learn about manufactured housing industry changes, and how to understand the secondary mortgage market’s appraisal requirements and identify unacceptable appraiser practices.
The training has been approved for three appraiser continuing education credits and three Realtor continuing education credits.
In recent years, the manufactured housing industry has undergone many changes. Fewer financing options exist today for both new and existing manufactured homes. Additionally, industry sources estimate that the number of repossessed and foreclosed manufactured homes is at record-high levels, according to a press statement.
Fannie Mae operates pursuant to a federal charter and is the nation’s largest source of financing for home mortgages.
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