|Event Date||Thu May 20 EDT (5 months ago)|
Are your residential appraisal policies and procedures up to date? Lenders must have an effective, independent appraisal and evaluation process that accurately represents a property’s market value. Examiners are carefully analyzing the entire appraisal process. How will yours stack up to examiners’ expectations?
AFTER THIS YOU’LL BE ABLE TO:
• Understand the appraisal rule requirements and thresholds.
• Anticipate examiner 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.
• Thoroughly review a real estate appraisal using the tools provided.
A sound appraisal that accurately depicts the market valuation at the specified time is a key element of any loan decision. It is essential that lenders employ effective, independent appraisal and evaluation processes. Both safety and soundness examiners and compliance examiners are carefully scrutinizing appraisal processes – from policies, to procedures, to independently ordering appraisals, to appraisal reviews, and more.
Appraisers should have the knowledge and expertise to perform independent appraisals and evaluations in accordance with regulatory guidance and industry standards. Appraisals need to be independently assessed to ensure the quality is commensurate with the subject property’s complexity and transaction risk. This webinar will delve into a sample residential loan appraisal and identify issues and concerns. You will also be guided through sample written policy, procedures, and checklists – invaluable tools for reviewing and improving your processes.
WHO SHOULD ATTEND?
• This informative session will benefit loan officers, loan operations staff, compliance officers, and anyone responsible for ordering and reviewing appraisals.
• Real estate appraisal checklist.
• Real estate appraisal review checklist.
• Sample real estate evaluation.
• Employee training log.
• Interactive quiz.
Brode Consulting Services, Inc.