Fair Housing Chapter 5 Flashcards

The RECORD KEEPING RULE states: 'The workfile must include: _______ copies of all written reports.'

A workfile in support of an oral appraisal review report must be sufficient for the appraiser to produce a(n)____________________.

Loans that are too big to conform to Fannie Mae and Freddie Mac limits are known as ________ mortgages.

One of the certifications in SR 2-3 says 'I have no (or the specified) _____________ interest in the property that is the subject of this report...........'

HUD says the appraiser must ________________ any attempt to influence their independence.

The RECORD KEEPING RULE states: 'The workfile must include: the name of the client and the identity, by_______, of any other intended users.'

AO-19 says, in part 'If an appraiser is asked whether a specific property has a value (a point, a range, or a relationship to some benchmark), that request is for a(n) ______________.'

The RECORD KEEPING RULE states: 'A true copy is a replica of the report transmitted to the ______________.'

AO-19 says, in part 'Assignment conditions that compromise an appraiser's impartiality and objectivity in an assignment are _______________.'

One of the certifications in SR 2-3 says 'the reported analyses, opinions, and conclusions are limited only by the reported __________________________......'

Under USPAP STANDARD RULE 2-3, one of the required certifications says 'the statements of fact contained in this report are_____________.

The Comment to Standards Rule 1-1(a) states, in part 'it is not sufficient for appraisers to simply ____________ the skills and knowledge they possess when they become appraisers.'

AO-19 addresses unacceptable conditions. It says, in part 'Specifically, an assignment condition is unacceptable when it limits the scope of work to such a degree that the assignment results are not ______, given the intended use of the assignment.'

Fannie Mae says use of phrases such as 'pride of ownership' or 'poor neighborhood' are examples of ________________ terminology.

AO-19 says, in part 'The ____________ of the assignment results affect whether assignment conditions are acceptable.'

HUD says it is prohibited for mortgagees or AMCs to make _____________ of future business, promotions or increased compensation for an appraiser.

The loans that Fannie Mae and Freddie Mac are willing to purchase and securitize are called _____________ loans.

Fannie Mae is a(n) ___________________.

If an appraiser has a 'current or prospective interest in the subject property', USPAP requires that such an interest be disclosed in the ___________ and ___________ acceptance of an assignment or upon discovery during the assignment.