Consumer Real Estate Appraisal Reviews
On-Demand Webinar:
StreamedJun 27, 2023Duration90 minutes
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
Appraisals are a key element of any loan decision because they depict the market valuation at the time of the loan.
Both
safety and soundness and compliance examiners are carefully scrutinizing
appraisal processes – from policies, to procedures, to independent ordering, to
appraisal reviews, and more. Are your policies and procedures up to date? How
will they stack up to the examiners’ expectations?
AFTER
THIS WEBINAR YOU’LL BE ABLE TO:
- Understand the appraisal rule and USPAP requirements
- Determine examiners’ expectations for your appraisal policy and review process
- Distinguish when a full appraisal is required versus an evaluation
- Implement a strong appraisal review process for real estate appraisals
- Identify potential fair lending issues and bias in appraisals and AVMs
- Utilize provided tools to thoroughly review a real estate appraisal
WEBINAR DETAILS
In recent months, the regulatory agencies have
shined a spotlight on discriminatory appraisals. Accepting a discriminatory
appraisal would increase your liability under FHA and ECOA, and cause consumer
harm by limiting access to credit or increasing the costs of credit. To
mitigate these risks, your institution should have a thorough appraisal review
process in which each appraisal is independently assessed to ensure the quality
is commensurate with the complexity of the subject property and transaction risk
and is free of appraiser bias.
It is essential that financial institutions employ
effective, independent appraisal and evaluation processes. Appraisers engaged
to conduct appraisals and evaluations should have the knowledge and expertise
to perform reviews in accordance with regulatory guidance and sound banking
standards. This session will review a sample residential loan appraisal and
identify what to look for and what may cause concern. It will guide you through
a sample written policy, procedures, and sample checklists, and discuss how to
identify and correct common mistakes made during the review process.
WHO SHOULD ATTEND?
This informative session will
benefit loan officers, loan operations staff, compliance officers, and anyone
responsible for ordering and reviewing appraisals.
TAKE-AWAY TOOLKIT
- Real estate appraisal checklist
- Real estate appraisal review checklist
- Sample real estate evaluation
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission,
or republishing of any webinar to other institutions or those not employed by
your institution is prohibited. Print materials may be copied for eligible
participants only.
Presented By
Dawn Kincaid
Brode Consulting Services, Inc.
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