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	“Real-Time” Valuation vs. FAS 157 Fair Value The Key to the Real Estate & Financial Market's Stabilization Course: #06-00-121-8808 This course contrasts Fair Market Value (FMV) established in the Financial Institutions Reform, Recovery & Enforcement Act of 1989 (FIRREA), legislation with the Fair Value definition implemented in 2007 under the Financial Accounting Standards Board's Pronouncement (FAS) 157 for Generally Accepted Accounting Principles, GAAP. Although FAS 157 has been temporarily suspended the course covers the past, current and future impact of FAS 157 on the real estate and financial markets. The course explains why “Real-Time” Valuation is a more accurate and up-to-date market valuation which should replace FAS 157. Attendees will better understand asset values in today's market after learning the difference between Fair Market Value (FMV) rendered by appraisers, the Fair Value (FV) assessment of real estate assets and loans by financial institutions and regulators and “Real-Time” Value (RTV), the dynamic value developed with market input from practitioners in the field. This course provides insight as to why the real estate markets may not find a natural floor and why financial institutions continue to increase underwriting guidelines while requiring more investment capital in real estate transaction thereby extending our recovery. At the conclusion the attendee should have improved their ability to better advise and assist their clients in reaching an informed decision for prospective transactions regardless of the class of real estate.
	COURSE HIGHLIGHTS: Definition and distinction of the differences in “Real-Time” Value, Fair Market Value as defined by Title XI of FIRREA and FAS 157's Fair Value and how they impact the Real Estate market Discussion of 17 legislative acts enacted the past 28 years and how they impact the Real Estate & Financial Markets today Impact & effect of the government's failure to address asset and collateral valuation & underwriting issues of the 1980's after the passage of Title XI of FIRREA and its current impact on Real Estate & Banks Explanation of Financial Accounting Standard (FAS) 157, including its “temporary” suspension, on the Financial & Real Estate Markets and ORE/REO single asset & bulk portfolio sales Overview of FAS 166 & FAS 167 and their impact on the Mortgage-Backed-Securities, Real Estate & Financial Markets along with other potential FASB changes in 2010 Comprehension of why “Real-Time” Value is the key to the real estate and financial markets' recovery and why it should replace FAS 157 Fair Value Description of the necessary steps for determining “Real-Time” Value Discussion of Best Standards Practices for use with asset & collateral data collection for determining “Real-Time” Value Defining the data collection process for “Real-Time” Value Impact of the Information Age & State-of-the-Art Technology on the Real Estate & Financial Markets Overview of the automation process including Open Systems Architecture, Arc GIS geocoding and the benefits of practitioner driven collaboration tools Tracking the impact of ORE/REO and other non-performing assets on the Real Estate Market Explanation of the impact of the reclassification of assets from “Toxic” to “Underperforming” or “Exceptional” by banks Overview of the FDIC's Loss/Share Program and its impact on ORE/REO as well as the Real Estate & Financial Markets Identification of why it's difficult to locate and acquire ORE/REO unlike the 1980's Explanation of why the Capital & Equity Markets are going to remain tight NOT YOUR TYPICAL MCE COURSE
	STATE CONTINUING EDUCATION INFORMATION: TREC MCE Provider: John H. McCrocklin Company, Inc. – #0691 TREC MCE Course #: 06–00–121–8808 TREC MCE Course Title: “Real-Time” Valuation vs. FAS 157 Fair Value CE Credit Requirement: Class attendance & Sign TREC roster TREC CE Course Credits: 6 hours, CE Prerequisites: None NEXT AVAILABLE CLASS INFORMATION: No classes are currently available.  Please go to our Contact Us page and send an email to one of our staff members to indicate your interest in a class when one is scheduled.
	AMERICANS WITH DISABILITIES ACT: John H. McCrocklin Company, Inc. will accommodate disabled individuals in compliance with the Americans with Disabilities Act. Students seeking such accommodations must contact the John H. McCrocklin Company, Inc. at (800) 929–8370 Ext. 26 in advance to make arrangements. COURSE CANCELLATION POLICY: John H. McCrocklin Company, Inc. reserves the right to cancel or change any scheduled course at any time. Students enrolled in a course that is cancelled will be notified as far in advance as possible. Students have the option of getting a full refund or transferring into another course. Please note that John H. McCrocklin Company, Inc. is not responsible for any out–of–pocket expenses (lodging, airfare, etc.) students may incur when a course is cancelled. Notification of cancellation will be made to the phone numbers and e-mail address provided on the registration form. Status of courses and course dates will also be published at www.johnhmccrocklin.com. Student course enrollment cancellation must be made at least 48 hours prior to the delivery of the course. No cancellations will be accepted less than 48 hours prior to a course. The cancellation fee is $15.00 to cover processing and credit card charges.