The COVID-19 pandemic represents an unprecedented challenge to the real estate appraisal profession. Consequently, it is imperative that real estate appraisers have access to timely and relevant appraisal information for navigating this crisis. Therefore, McKissock Learning is offering a free PDF download: Appraisal Form Reference Guide–COVID 19. We’ve also put together the following resource guide to help you locate the latest information available that impacts appraising.
FREE WEBINAR: Join us Wednesday, April 29 (11:00–12:00 EST) for a free Pro-Series Webinar: Appraising in a Pandemic. Register here.
Fannie Mae and Freddie Mac
- Appraisers Page: Fannie Mae’s appraisal updates, requirements, and guidance
- Lender Letter (LL-2020-04): Impact of COVID-19 on Appraisals, including temporary flexibilities (last updated April 14, 2020)
- Bulletin 2020-5 Freddie Mac’s Selling Guidance related to COVID-19, including temporary appraisal flexibilities (last updated April 14, 2020)
- COVID-19 Frequently Asked Questions: Fannie Mae and Freddie Mac’s FAQs that provide additional information on the temporary appraisal policies.
- Modified Set of Instructions, Scope of Work, Statement of Assumptions, Limiting Conditions, and Certification for:
- Video: Fannie Appraisal Report Instructions for COVID-19 Flexibilities (To watch, click here.)
- Video: Top 6 Tips for Appraisers on Using COVID-19 Flexibilities (To watch, click here.)
FHA
- Mortgagee Letter 2020-05: Temporary appraisal policies due to the Presidentially-Declared COVID-19 National Emergency Declaration (issued March 27, 2020)
- Model certifications for:
- HUD COVID-19 Resources & Fact Sheets: Resources for Forward, Reverse, HECM, 203K, Servicing, and more mortgage guidance.
- COVID-19 Q&A: Federal Housing Administration’s COVID-19 Questions and Answers (last updated April 14, 2020)
VA
- Circular 26-20-13: Valuation Practices during COVID-19 (updated April 10, 2020)
- Modified Set of Instructions, Scope of Work, Statement of Assumptions and Limiting Conditions and Certifications for:
USDA
- USDA COVID-19 Bulletin: Temporary exceptions to interior inspection appraisals in relation to COVID-19 Pandemic
McKissock Learning
- McKissock Appraisal Form Reference Guide–COVID 19: Download a PDF of useful tables summarizing Fannie Mae, Freddie Mac, FHA, and VA’s acceptable appraisal forms for property and inspection type. To download this free guide, click here.
- Webinar: Appraising in a Pandemic: A free webinar hosted by McKissock Learning, in which a panel of experts will discuss the challenges appraisers are facing, the creative technology solutions available, and recommended actions that appraisers can implement to address COVID-19’s impact on appraising residential properties. The webinar will take place on Wednesday, April 29, 2020, from 11:00am–12:00pm EST. Sign up here.
The Appraisal Foundation
- Coronavirus and Appraisers: Your Questions Answered: The Appraisal Foundation provides this assistance to help Appraisers respond to the coronavirus’s potential impact on the profession.
- 2020-01: APPRAISAL DEVELOPMENT–INSPECTIONS: Interior Inspections during a National Health Emergency
National Association of Realtors
- Coronavirus: A Guide for REALTORS®: Guidance to help address some of the common transactional issues we are hearing about
Federal Banking Agencies
- Press release: Federal banking agencies to defer appraisals and evaluations for real estate transactions affected by COVID-19
- Coronavirus (COVID-19) Information for Bankers and Consumers: FDIC web page offering numerous resources related to lending, banking, small business, and real estate
CARES Act
- The Small Business Owner’s Guide to the CARES Act: Provides information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA)
Other Coronavirus Resources
- Coronavirus.gov
- Centers for Disease Control (CDC) for Coronavirus
- National Institutes of Health
- Department of Health and Human Services (DHHS)
- Department of Labor Occupational Safety and Health Administration (OSHA)
- World Health Organization (WHO) Coronavirus Outbreak
- U.S. Department of Veterans Affairs (VA)
- Department of Agriculture (USDA)
- Department of State Travel Advisories
- USA.gov Coronavirus web page
For more info about coronavirus and appraising, visit the Appraisal News section of our blog. And don’t forget to register for our FREE webinar on Wednesday, April 29th: Appraising in a Pandemic.
The post Coronavirus and Appraising: A Resource Guide to the Crisis appeared first on McKissock Learning.
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Written by : Jo Traut
Jo Traut holds the position of Appraisal Curriculum and Content Specialist at McKissock Learning. Jo has more than 20 years of experience in appraisal operations, appraisal valuation risk, and appraisal compliance. She holds a CDEI (Certified Distance Education Instructor) designation from the International Distance Education Certification Center (IDECC) and is an AQB-Certified USPAP instructor.