Appraiser Liability 101:
Essential Concepts
COURSE APPROVAL INFORMATION
Education Provider: Appraiser eLearning LLC
Approved States: Certified for 4 hours of continuing education in:
*States with an asterisk will accept CE which is approved in the state where it is being taught.
*Pending approval in many states; please contact us at support@appraiserelearning.com with any specific questions about state approvals*
Appraiser Liability 101 covers current liability issues for real estate appraisers and the best practices to avoid claims. The discussion primarily relates to appraisal work for lending assignments. An emphasis is placed on developing the ability of student appraisers to apply the learned concepts to their real world work.
This course covers current liability trends affecting appraisers and dispels some common myths and misunderstandings. It is focused primarily on appraisals and appraisal reviews for mortgage loans. Actual lawsuits and claims form the foundation of the program.
These are the types of questions answered by the course: Who sues appraisers? What do they sue for? What are the most common errors that lead to lawsuits? How do the USPAP concepts of intended use and user relate to an appraiser’s potential liability? Based on recent case law, how can an appraiser best protect themselves against unwarranted liability? What liability exposures exist for appraisal review work?
The course content consists of seven video lectures by attorney Peter Christensen with quizzes following each video. Each video must be watched in its entirety and the chapter video must be passed before the student can move to the next chapter.
Appraisers who complete this course and who are insured by LIA Administrators & Insurance Services are eligible for a minimum $50 discount on their next E&O policy premium (if the per claim limit of your policy is $500,000 or higher) or a minimum $25 discount (if the claim limit is lower). Higher discounts (up to $70) may apply to policies issued after January 1, 2020 in certain states depending on state insurance department approvals – please check with LIA about your applicable discount.
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Course Author
Peter is the principal attorney of the Christensen Law Firm (www.valuationlegal.com). His legal work is focused on matters concerning valuation (real property, personal property and business) and related services. The clients he serves are valuation firms and professionals; technology and appraisal management companies; and also individual and commercial parties who use or rely on valuation services.
Peter’s book, Risk Management for Real Estate Appraisers and Appraisal Firms, was published by the Appraisal Institute in August 2019. He has also published more than 50 articles relating to appraisal legal issues, many appearing in the Appraisal Institute’s Valuation magazine, and has presented hundreds of seminars to appraisers and appraisal/valuation firms.