|Event Date||Mon Mar 15 EDT (8 months ago)|
Obtaining and reviewing appraisals is an integral part of the lending process. Although there are several rules that regulate appraisals, of fundamental and primary importance are the Appraisal Regulations, and corresponding Interagency Guidance on Appraisals and Evaluations. These rules provide a foundation that should establish: (1) the independence of the appraiser; and (2) when an appraisal is required.
The webinar will also review revisions that have been made within the past couple of years that affect threshold exemptions and provide a certain exemption due to COVID issues.
A comprehensive internal program must be established to ensure appropriate lending staff understand and comply with this important regulation. In addition, the webinar will briefly review other matters impacting appraisal programs, including Regulation Z and ECOA/Regulation B.
This two-hour webinar will review compliance requirements in the Interagency Appraisal and Evaluation Guidelines, which discusses expanded standards for selecting appraisers, ordering appraisals, accepting transferred appraisals, content of evaluations and other related topics.
HERE IS WHAT YOU WILL LEARN:
• Provide an in-depth review of the Appraisal Regulations and Interagency Guidance
• The importance of an appraisal management program
• When an appraisal is required, when it is not (a review of the exemptions, including the new ones), and when an evaluation is required instead
• Quick review other appraisal rules, including:
- The Valuation independence rule under the Truth-in-Lending Act; and
- Notice and provision of copies of appraisals and valuations under the Equal Credit Opportunity Act and the Truth-in-Lending Act.
• Other agency bulletins and statements