Real Estate Valuation Compliance Seminar 2022 | Kentucky Bankers Association (KBA) | 26 May 2022 | Indiana Wesleyan University - Louisville Education and Conference Center, 1500 Alliant Ave, Louisville, KY 40299, USA

Are your real estate valuation policies and procedures compliant? Are you using appraisals and evaluations to their full potential? Do you continue to see higher fees and longer turn-times? This program will focus on the key points that banks need to be aware of relating to the policies and procedures for their real estate valuation program to ensure they are operating in compliance with the regulatory requirements. Discussion will include regulatory requirements for policies and procedures and items that could be considered in your program when deciding what product to order for real estate transactions.

Learning Objectives:
• Documenting Policies and Procedures - A discussion of items to consider when developing written policies and procedures for your real estate valuation program
• Keeping It Independent - Discussion of who can perform each valuation type and the steps necessary to ensure the appraiser's, evaluator's and reviewer's independence is maintained
• Types of Reports and When They Can Be Used - A brief discussion of the different types of appraisals and/or evaluation reports and when their use is appropriate; this includes different options that can be considered for 1-4 family and commercial property types
• Minimum Appraisal Standards - Discussion of minimum appraisal standards, the appraisal development process, and transactions that will require an appraisal for lending institutions
• What is USPAP? - Includes a discussion of USPAP (Uniform Standards of Professional Appraisal Practice) and what portions apply to real estate transactions o Understanding the Scope of Work - The three approaches to value and the reconciliation section of the appraisal will be discussed, including discussion on the regulatory opinion of the Scope of Work
• Using Appraisals from Another Institution and "Readdressed" appraisals - Are these appropriate and how should they be handled to be compliant
• Minimum Evaluation Standards - A discussion of when the use of an evaluation is acceptable as well as minimum evaluation requirements necessary for an acceptable evaluation
• Understanding Compliance Reviews - The differences between a USPAP Compliance Review and a USPAP Standard 3 Review will be discussed along with responsibilities for outsourcing reviews; this also includes discussion of the evaluation compliance review
• Qualified Review Personnel - A discussion of who is considered appropriately qualified to review appraisals is presented, as well as how to document their qualifications
• Developing an Acceptable Review Form - Discussion on the minimum review standards in order to meet regulatory guidelines and how to document them in a form style or narrative review
• Completing Compliance Reviews Internally - Discussion of what to look for when completing a compliance review internally; this also includes discussion of how to request and log revisions

Program Content and Delivery
This program focuses on current issues involving real estate valuation and contains information relevant to those who manage or are involved with the appraisal and evaluation process within a bank. A reference manual will be included. Sample engagement letter and appraisal & evaluation review checklists are available upon request. The instructor is a certified appraiser with extensive experience in ordering and reviewing appraisals.

Who Should Attend
Members of the bank who are involved with the ordering and review of appraisals, as well as other members that will rely on appraisals will be interested in attending this program. In addition to any appraisal department member, this may include credit officers, loan officers, credit analysts, loan review officers, credit administration supervisors, and loan assistants.

2022 Speaker

Eric Collinsworth
Owner, Appraisal Advisory Associates, LLC