Francis P.

Santana
Daily Report

FILE SETUP
This course tackles about some other tools used in doing appraisal, such us
Salesforce, Amazon Workspace and other advance set up applications. Though I find
these tools not that really important cos I think everything is already integrated in
Redstone, this also helps me to know the traditional way perhaps in doing the appraisal
and some good to know information. In my opinion these methods might be obsolete
already but I do believe that in some way, this can still be applied. This course includes
the topics: Set up work file in Dropbox, Set up total fine and Advance set-up application.
Moreover, I will be giving my insights, takeaways and struggles on taking this training
course.

Set up work file in Dropbox

In this topic, I learned about how to set up the initial work file that will be stored in
Dropbox through the help of Salesforce tool. It talks about converting a quote into a new
order.
In doing an appraisal, sometimes lenders are going to have an order send to you
through email. However, the most important thing is you need to have the order and
instruction inside the appraisal report. If you don’t have that, you need to fill up the order
from inside the salesforce.

These are the key points to remember in creating order:

*Order name is client's order number / the property address
*Put the due date as well
*Intended Unit: Tax appeal, or allegation, intended use for the appraisal
*Ask for the update they want it to be done- speak to them on phone and get the details
on the updates and the year it was done.
* For Instructions, that’s what they want to have in the report.
*Save it after
How to Create a work file for the report:
*Go to Appraisal services - Orders - Template (work file structures for workflow for the
appraisals)
*Get a copy of it inside the work file
*If not scheduled put it on the opportunities
*If scheduled set up a file for it
*If the order is from a management company and not scheduled yet - save the work file
*Depending on the client on how they gave you an order form, sometime through email,
send it as an attachment or log in to client’s website and download the client’s
information.
*The main thing to know and understand is you need an order form on file and the
instructions on the client
*If it’s a purchase you need to have a copy of the contract
*In saving there are 2 names to remember: the order or client’s instructions. They are
separate but if it's combined then put both.
*Change it to close once done and save it.

Set up total file

In this section, I learned about the of process of setting up the Total appraisal file. The
tool used this time is Amazon Workspace.

Key points to remember

Steps
*Create an order- need to have an order form from the lender.
* Go to Tools- configure settings -check
*Hit new
*Put the property address
*Select merge screen and hit okay
*Choose on Templates and merge into bring a new appraisal report
*Fill in the information
*Client is the company
*Lender is not the client on the order form
*Refer all details in filling up the form from the order form
*Once done save it.

ADVANCE SET UP APPLICATION

CO Borrowers

Borrowers Transfer option

Borrower
Co-borrower
Make sure to put the name correctly and click transfer - combines borrows & co
borrower into form.

FHA Upgrade

FHA inspection - thorough inspection - like the storage, or shed or attic- has a lot of
work

Recertification

The cycle of getting an appraisal report

Example: Mary Doe- ABC mortgage- ABC AMC - ROI - Appraisal report - ABC AMC -
ABC Mortgage - Mary Doe
Say Mary doesn’t want the appraisal report from ABC mortgage and gets another
company
Example- XYZ mortgage, XYZ AMC - ROI - Appraisal report - XYZ AMC - XYZ
mortgage
If they want to rename the appraisal report from ABC mortgage to another company,
that needs recertification

Appraisal report
*Effective date - Inspection date
*date of report - Delivered

SFR v Condo

Condo vs Single Family

Single Family property

*Legal Description - If it has lot or block - it is a property - Single family home

Condo cannot have a lot. It does not own the land. It has a unit number

Challenges

As I move forward with the training videos, other tools are being introduced and new
words arise. Though I can say that I’m quite overwhelmed still with the information of
the previous courses, I somehow able to manage and understand those things like the
processes which I believe is the most important factor to learn. This can be well-learned
by a visual representation or the tool navigation. Hopefully, I could be able to familiarize
these tools in a practical activity learning. Furthermore, I’m more eager to know more
about research and getting excited to apply what I learned with the courses I took in the
actual field of research.