Join us on Tuesday, August 13th from 10AM to 11AM Central Time for another episode of The Real Estate Update, a free monthly webinar series brought to you by Agent eLearning.
In this episode, co-hosts Meagan Campion and Sterling Fryar are joined by Craig Morley and Marty Wagar, for an insightful discussion on Reconsiderations of Value (ROVs).
ROVs are a hot topic in the lending community. Agents, Appraisers, and Lenders need to be well-prepared for the new policy guidelines that are coming soon. These guidelines, initially set to go into effect on August 29th, 2024, have now been extended to October 31st, 2024, according to announcements from Fannie Mae, Freddie Mac, and a new Mortgagee Letter (ML) published by the Federal Housing Administration (FHA).
Webinar Topics:
• Understanding ROVs: What they are, how they work, and who can perform them.
• New Policy Guidelines: Discover the new recertification of value guidelines from FHFA.
• Best Practices for ROVs: Learn how agents should respond and what to expect.
• Impact of the New UAD: How will the Uniform Appraisal Dataset (UAD) changes affect ROVs?
• Desktops and Hybrids: Understand the differences, value acceptance, and their significance for agents.
• Communication Strategies: Ways for agents to communicate with appraisers and provide relevant information.
• Borrower Acknowledgment: Implications of borrowers acknowledging they’ve been informed about ROVs.
• Tidewater Initiative: Insights into the Tidewater discussion and PAVE task force initiatives.
• Dodd-Frank Act: A brief history and its relevance to current practices.
• Comparable Sales: Ensuring comps are valid comps.
What You’ll Walk Away With:
• Educational Insights: Gain a comprehensive understanding of the ROV process from an appraiser’s standpoint.
• Practical Knowledge: Learn actionable tips for dealing with ROVs effectively.
• New Agent Guidance: Essential information for new agents who have never dealt with ROVs before.
Save the Date:
Tuesday, August 13th – Learn the knowledge and tools needed to navigate Reconsiderations of Value. Register to secure your spot!
Presenters
Meagan Campion
Meagan Campion has been in the real estate industry since 2007, after graduating from Texas A&M University, and is now an Associate Broker focused on residential and farm and ranch real estate in Central Texas. Her work as a landman in Texas since 2010 gives her a unique perspective on the real estate industry. Meagan believes in giving back to the industry and has served on multiple committees thru REBI since 2019 and the Texas Realtors Professional Development committee 2023-present. Her passion for education and knowledge and her 15+ years of real world experience has given her a plethora of information to share with anyone who takes her classes.
Sterling D. Fryar, MAI
Sterling D. Fryar, MAI, is a Real Estate Broker and Appraiser based in San Angelo, TX, with over 15 years of experience in the industry. He has gained a deep understanding of the various market trends and what makes San Angelo a unique and wonderful place to call home.
Sterling holds a Bachelor’s Degree in Agricultural Economics from Texas A&M University, providing him with the technical know-how to navigate the complex landscape of real estate transactions. He went through the rigorous process of obtaining his MAI designation, which is one of the most recognized and respected designations in the appraisal field. In addition to that, Sterling continuously attends training sessions and seminars to stay up-to-date with the latest industry innovations and regulatory changes.
He is a member and supporter of multiple non-profit organizations in the Concho Valley, including West Texas Rehabilitation Center, West Texas Boys Ranch, Autism Alliance of the Concho Valley, and Laura W. Bush Institute at San Angelo. Philanthropy has always been a passion of his, which was handed down by his grandmother, who was heavily involved in getting a West Texas Rehab Center to Ozona, TX.
Marty Wagar, IFA-S – ASA- RAA - MNAA
Martin J. Wagar has been a real estate appraisal professional since 1974. He’s certified in Michigan & Florida, holds a Michigan real estate broker’s license, and is a REALTOR® emeritus. Martin has an IFA-s designation through the National Association of Independent Fee Appraisers and an RAA designation through the National Association of Realtors®.
In 2009, Martin founded the AMC Midwest Appraisal Management Group. After retiring in 2014, he helped bring the entire appraisal process “in house” for a large mortgage company overseeing appraisal quality control and regulatory compliance in 14 states. As president of Wagar & Associates, Martin provides consulting service and is a nationally recognized expert on appraising, appraisal regulations, and compliance.
Craig Morley
Craig Morley is a Certified General appraiser licensed in Arizona, Nevada, and Utah. His professional associations include: National Association of Appraisers (NAA), National Association of Realtors (NAR), Appraisal Institute (AI), Coalition of Appraisers of Nevada (CAN), and Utah Association of Appraisers (UAA). With designations from NAA and NAR.
Craig was appointed to the Utah Appraiser Licensing and Appraisal Board by the Governor of Utah in 2004 to 2012, having chaired the board for 4 of those years. Craig is the past president of the Washington County Board of Realtors, past president of the Utah Association of Realtors, and is currently a Director with the National Association of Appraisers. He is also currently serving in the NAR Real Property Valuation Committee. Craig is a licensed education instructor for Real Estate and Appraisal as well as for Accurity Valuation Corporate Commercial Appraisal Development.
Craig has been a full time real estate appraiser since 1984, with his appraisal experience in appraising most types of commercial property, residential property, easements, water rights. He also has experience in litigation valuation together with residential and commercial development. Craig has been qualified as an expert witness in district court in Utah and Nevada as well as providing testimony in Georgia, US District court and federal bankruptcy courts.
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