Fannie Mae is mandating new comprehensive requirements that will impact the lending industry, the appraisal business, and appraisal software vendors. The Uniform Mortgage Data Program (UMDP) implementation begins September 1, 2011. It includes the Uniform Appraisal Dataset (UAD) that mandates standardized appraisal data for new loan applications. All appraisers must complete the appropriate appraisal forms as required by the Uniform Appraisal Dataset (UAD) to satisfy the new GSE requirements beginning September 1st. The course will address the new requirements and how they affect appraisers.

The course will also provide an update on issues related to appraiser independence and "reasonable and customary fees". Additionally, examples will be provided of appropriate report comments for regulatory compliance.