Appraisals and Evaluations: Performing Internal Compliance Revie

With Eric Collinsworth

Appraisals and Evaluations: Performing Internal Compliance Revie

With Eric Collinsworth
  • 1 Video
  • 3 PDFs
  • 2.0 hrs
Course description

This webinar will focus on the key points that banks need to be aware of relating to reviewing appraisals and evaluations for minimum compliance with the regulatory guidelines as well as the most recent revisions to USPAP. This will include an in-depth analysis and discussion of the requirements of USPAP Rules and Standards 1 & 2, as well as what to look for in any valuation report for compliance with the Interagency Guidelines for Appraisals and Evaluations.



Learning Objectives:

  • Qualified Review Personnel and Reviewer Independence - A discussion of who is considered appropriately qualified to review appraisals, as well as how to document their qualifications and the steps necessary to ensure reviewer independence is maintained
  • Minimum Expectations of the Compliance Review - A discussion of when compliance reviews are required and why they are an important part of the overall valuation process
  • Minimum Regulatory Requirements for Appraisals - A discussion of the minimum appraisal and evaluation requirements of the Interagency Guidelines for Appraisals and Evaluations
  • Understanding USPAP and Applying it to the Compliance Review - A thorough discussion of the various parts of USPAP and what reviewers should be looking for in the appraisal report for minimum compliance with USPAP requirements
  • Understanding the Various Types of Reviews - The differences between a USPAP Compliance Review and a USPAP Standard 3 Review will be discussed along with outsourcing reviews to qualified personnel
  • Evaluation Compliance Reviews - A discussion of the minimum requirements for an acceptable evaluation report based on the Interagency Guidelines for Appraisals and Evaluations
  • Handling Deficiencies in the Report - How to handle items of concern with the appraiser or evaluator and stay within the regulatory guidelines and what to do with a rejected report

This program focuses on current issues involving the appraisal and evaluation compliance review process and contains information relevant to those who manage or are involved with the appraisal and evaluation review process within a bank. A reference manual will be included with resources and sample appraisal & evaluation review checklists. The instructor is a certified appraiser with extensive experience in ordering and reviewing appraisals and has completed over 12,000 compliance reviews since 2008.



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

Course Curriculum

Video
120:36
Appraisals and Evaluations: Performing Internal Compliance Review
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Materials
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Instructor

Eric Collinsworth
Eric Collinsworth

Eric Collinsworth, owner of Appraisal Advisory Associates, has been actively involved in the appraisal industry since 2004. He received the Certified Residential Appraiser designation in 2006. For the first 4 years of his appraisal career, he worked exclusively on residential property appraisal in the Middle Tennessee area, with a focus on OREO and high end properties. Since 2008, he has worked for and with community banks in Tennessee. He served in a supervisory role for a multi billion dollar financial institution headquartered in Middle Tennessee and was responsible for developing compliance forms, appraisal policies, appraisal reviews, appraisal training, and market analysis, as well as the management of the day to day operations of the appraisal department. In October 2011, Eric formed Appraisal Advisory Associates, LLC in order to share his growing knowledge and expertise and to fill a need he recognized within smaller community banks for sound advice relating to the regulatory changes in the appraisal industry.

In addition to his appraisal review and regulatory compliance work, Eric also holds an Affiliate Broker's license with a Middle Tennessee real estate firm. His company, Appraisal Advisory Associates, LLC has partnered with a Nashville based appraisal management company to provide full appraisal management services to community banks.

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