2024 Val Expo Day 1

Course overview

Appraisers are essential in navigating change and embracing new technology in their profession. In this course, we will explore how emerging technologies can enhance an appraiser's efficiency and proficiency. We will delve into the intricacies of dream analysis and its relevance to the field. Understanding the key information sought by lenders in an appraisal is crucial, as is knowing how to address unanswered questions about a property. A central topic for discussion will be the ongoing debate between man and machine in the appraisal process. Can technology truly replace the human element? We will examine this question from various perspectives. Looking ahead, we will analyze the economic landscape for 2024 and beyond, based on current economic indicators and projections. Representatives from Fannie Mae and Freddie Mac will provide insights into the latest policy updates related to appraisals, focusing on valuation modernization and Appraiser Independence Requirements. Additionally, there will be a joint presentation from Fannie Mae and Freddie Mac on the new UAD Redesign. The Uniform Appraisal Dataset (UAD) and Forms Redesign aim to establish a more adaptable and dynamic structure for appraisal reporting. The new Uniform Residential Appraisal Report (URAR) will replace individual appraisal report forms and be supported by the updated UAD. This updated dataset, informed by stakeholder input, is designed to reflect changes in the appraisal industry since 2010 and facilitate ongoing digitization in the appraisal and mortgage industries. Ultimately, this course underscores the importance of embracing change and evolving with it in the field of appraisals.