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Exam (elaborations)

BARBARAY VA SAR 1 QUESTIONS WITH CORRECT ANSWERS 2025

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BARBARAY VA SAR 1 QUESTIONS WITH CORRECT ANSWERS 2025

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Uploaded on
April 20, 2025
Number of pages
6
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

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  • barbaray va sar 1 questions with correct answers 2

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BARBARAY VA SAR 1 QUESTIONS WITH
CORRECT ANSWERS 2025
VAN-NCORRECTNANSWERN-VeteransNAdministration



SARN-NCORRECTNANSWERN-StaffNAppraisalNReviewer



USPAPN-NCORRECTNANSWERN-UniformedNStandardsNofNProfessionalNAppraisalNPractice



LAPPN-NCORRECTNANSWERN-LendersNAppraisalNProcessingNProgram



VANrequirementsN-NCORRECTNANSWERN-MeetNallNcreditN&NincomeNstandardsNandNENSURE:N

1.NLoanNApp.

2.NVANappraisal

3.NVANCOE

4.NCollectNAppraisalNfee

5.NProcessNDeterminationNforNReasonableNValue



VANFormN26-1805N-NCORRECTNANSWERN-
RequestNforN"DeterminationNforNReasonableNValue"NinNWebLGY



FeeNAppraiserNdutiesN-NCORRECTNANSWERN-AssignedNthroughNWebLGYNwillNpersonally:

1.NInspectNinterior/exterior

2.NExamineNexteriorNorNComparables

3.NAnalyzeNComparableNsales

4.NProvideNmarketNopinionNofNvalue

, 5.NSignNappraisalNreportNasNappraiser

6.NUploadNappraisalNreportNintoNWebLGY



WhyNisNappraisalNrequired?N-NCORRECTNANSWERN-
1.NProvideNindicationNofNmarketNvalueNinNorderNtoNdetermineNmaximumNloanNamountNVANcanNgua
rantee.

2.NDetermineNwhetherNorNnotNpropertyNmeetsNcertainNminimumNpropertyNrequirementsN(MPRS)

3.NEnsureNpropertyNisNinNanNacceptableNconditionNforNtheNVA



ReasonableNValueN-NCORRECTNANSWERN-SameNasNMarketNValue



TimelinessNStandardsN-NCORRECTNANSWERN-UponNopeningNAppraisalNreport:

1.NEnsureNneededNdocumentationNhasNbeenNprovided

2.NCheckNinformationNforNaccuracy

3.NCreateNlistNofNmissingNdocs/inaccurateNinfo.

4.NContactNfeeNappraiserNforNmissingNdocs/inaccurateNinfo.



VANTimelinessNStandardsNNOTNMETN-NCORRECTNANSWERN-IfNfeeNappraiserNfailedNtoNexplainNwhy:

1.NContactNfeeNappraiser

2.NRequestNcorrectedNappraisalNreportNcontainingNexplanationNforNdelay.



NoticeNofNValueN(NOV)N-NCORRECTNANSWERN-
EstablishesNreasonableNvalueNofNsubjectNpropertyNforNVA.



TimelinessNStandardsN-NUnderwriterNReviewNandNIssueNofNNOVN-NCORRECTNANSWERN-
MustNbeNreviewedNWITHINN5NBusinessNdays:

*IfNnot,NmustNenterNvalidNexplanationNinNWebLGY
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