1,000 Appraisals a Year: Realities of Appraiser Liability
Every month, Fannie Mae and Freddie Mac are recovering upwards of $1.5 Billion from lenders, mortgage brokers, borrowers and appraisers. Appraisers are under enormous pressure to perform appraisals faster and cheaper, all the while facing increasing liability and risk of being sued out of business. Do you know all you need to in order to avoid being the next statistic?
In this Webinar series, Richard Hagar, SRA, will help appraisers understand the risks and dangers involved when clients demand appraisals faster, cheaper. There are many issues that come into play in addition to USPAP; Fannie Mae requirements, Interagency Guidelines, state and federal laws and the Certification appraisers include in every report. If you’re only focusing on USPAP, you could easily wind up in trouble.
Hagar showcases the story of one appraiser who took short-cuts that allowed him to complete 3 to 4 appraisals a day, an “accomplishment” that ultimately led to a lawsuit costing over a million dollars.
Appraisers are facing serious legal dangers. Are your appraisals really compliant with USPAP and Fannie Mae standards?
This is the first of a series of Webinars that will explain the issues and help appraisers avoid costly mistakes, understand their liability, and protect themselves. To read more about Richard Hagar, click here.
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