1.5 Residential Analysis for Small Income Property Appraisals (15 Hours) This course is designed as an extension of capitalization and techniques as used by residential appraisers. Students will learn more about income capitalization and the compound interest concepts, including the six functions of a dollar. A review of the appraisal process and the basic principles will focus on the related study of small residential income properties and investor objectives. An exam at the conclusion of the course must be passed to receive qualifying education credit. (OREA # 03748C161)
1.5C Residential Analysis for Small Income Property Appraisals (8 Hours) This course is designed as an extension of capitalization and techniques as used by residential appraisers. Students will learn more about income capitalization and the compound interest concepts, including the six functions of a dollar. A review of the appraisal process and the basic principles will focus on the related study of small residential income.
4.7 FHA Appraisal Protocol Update (8 Hours) This course is designed to give the FHA appraiser a more thorough understanding of the new protocol issued by HUD in mortgagee letters 2005 24 and 2005 48, both of which are included in the text. Also included is the most recent update of Appendix D the focal point of the material. Other available information includes Mortgagee Letter 2005 35 regarding REO properties and 2005 0-02 regarding seller concessions. It is not mandatory that the student have knowledge of FHA protocol prior to the changes effective January 1, 2006, but it may be helpful. (OREA # 06748C200)
5.0a 2006 National USPAP Update (7 Hours) This course is designed to review professional standards, ethics and updates to the Uniform Standards of Professional Appraisal Practice.
5.0f Ethics (2 Hours) - This course is designed to provide attendees with a complete review of the National Association of Independent Fee Appraiser's Code of Ethics. It is designed to provide members with a rich awareness of what it means to be a professional and make a commitment to abide by a Code of Ethics written for practicing appraisers. This Code of Ethics is the ethical basis for the practitioner's professional commitment. These value and standards should be the guiding light for NAIFA designated members at all times.
5.3 Scope of Work (7 hours) - This 7-hour class presents topics relating to scope of work by lecture (with PowerPoint slides), quizzes, and case studies. Classroom interaction between the teacher and students will be encouraged. The class will be helpful in preparation for, or in supplement to, attendance of the mandatory USPAP Update Course developed by the Appraiser Qualifications Board of the Appraisal Foundation. (OREA # 07748C205)
6.7 The Cost Approach to Residential Properties (7 hours) - This 1 day course is a comprehensive overview of the cost approach to value including basic cost approach theory and principles along with all aspects of depreciation. Detailed instruction in the use of the Marshall & Swift Residential Cost Manual includes two actual case studies that are completed by the student in class. (OREA # 06748C202)
9.7 Fannie Mae Updated Property and Appraisal Guidelines (8 Hours) - This course is designed to inform and provide the students with an understanding about the extensive supplemental standard known as the Fannie Mae Appraisal Guidelines, which is very prevalent in appraisal assignments for lenders.
10.3 Understanding Relevant Characteristics of Real Property (7 Hours) This course is designed to provide an understanding of which characteristics of a property are relevant and which characteristics are not. Determining and defending the decision of which characteristics are relevant is a big part of the Scope-of-Work concept. With the Scope-of-Work concept being the hot topic of USPAP, this is a must-have course.
11.8a Calculating Gross Living Area Using ANSI Standards (4 Hours) This seminar describes the methods that will standardize the calculation process and enable the users of this information to obtain accurate and reproducible measurements for the total gross living area of residential properties. The appraiser will learn how to treat the finished areas above and below the grade, finished living areas above the garage, and the unfinished areas within the structure. ANSI Standards will allow appraisers and organizations to agree and cooperate in communicating these square footage quantities to users of this information.
16.2 The Appraisal of Foreclosure Properties (7 Hours) The purpose of this text is to help the appraiser understand and properly prepare for the appraisal of foreclosure properties. Primarily this text considers single-family residential properties, and not larger income producing property. There are two sections to this text. Section I regards the management of non-performing real estate assets owned by financial institutions. It also discusses the probability of the increase in foreclosure properties. Section II speaks to the practical application of the appraisal process of REO properties. (OREA # 05748C199)
19.1 An Appraiser's Guide to Environmental Issues (7 hours) This course will teach the student how to perform a physical inspection with a well-developed eye for recognizing potential environmental problems, to instruct the student on the correct methodology and how to effectively communicate his/her findings on both residential and commercial properties. (OREA # 06748C201)
Institutional Fraud (8 Hours) - This course has been written to stimulate the professional in examining their ethics. Fraud manifests itself in many directions and can occur in various forms and to various persons or entities. The course is a compilation of timely and exhaustive research into the subject of fraud and its possible consequences within the industry. Adjudicated cases from throughout the United States are utilized in the presentation of this course, along with current pending cases. Through these cases, students will be made aware of the extraordinary time involved from the initial investigation through final adjudication. (OREA # 07748C204)
Easements, Profits, and Licenses in Land (8 hours) - This course explains the property rights acquired for various type easements, the difference in transferring property rights versus giving permission to a person to use real estate and how to perfect the taking of profits from land. (OREA # 07748C206)
Manufactured Home Guide (8 hours) - This course is designed to assist the practicing appraiser in the identification of quality from fair to good in manufactured houses. A history of the evolution of manufactured housing will be presented along with the overall basic construction of manufactured houses from the 1960's to current construction techniques. The course is designed to enhance the appraiser's knowledge of current lending guidelines established by Fannie Mae, HUD and Freddie Mac in the valuation of manufactured housing. An overview of the forms utilized in the appraisal of manufactured housing will be presented along with current the newly adopted 1004- C (2005). Included within the appendix of the text is the complete Fannie Mae Announcement 03/06.