Identifying Common Mistakes During the Appraisal Compliance Review

With Eric Collinsworth

Identifying Common Mistakes During the Appraisal Compliance Review

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

ICB Credit: 2.5 CRCM

This two hour webinar will focus on the common mistakes that banks need to be aware of relating to reviewing appraisal reports for minimum compliance with the Interagency Appraisal and Evaluation Guidelines as well as the most recent revisions to USPAP.

Learning Objectives: 

Qualified Review Personnel and Reviewer Independence - A discussion of the qualifications of the reviewer 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 Guidelines - A discussion of the minimum appraisal requirements of the Interagency Guidelines for Appraisals and Evaluations USPAP Requirements - A thorough discussion of 

USPAP and what reviewers should be looking for in the appraisal report to ensure compliance with USPAP

 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 

Analysis of the Approaches to Value - A discussion of each approach to value and how to identify errors within the approaches

 Identifying and Correcting the Most Common Mistakes - Other than errors found within the approaches to value, these most common mistakes will be identified, discussed and analyzed, as well as how to present them to the appraiser for correction 

Handling Serious Deficiencies in the Report - How to handle items of concern with the appraiser and stay within the regulatory guidelines and what to do with a rejected report 

 Program Content and Delivery:  

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

 Who Should Attend?  

Members of the bank who are involved with writing or reviewing appraisal reports, 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, loan officers, credit analysts, loan review officers, credit administration supervisors, and loan assistants.

Webinar Reviews: 

very informative -  Andreadid

 a great job - PrimeBank

Course Curriculum

Video
119:36
Identifying Common Mistakes During the Appraisal Compliance Review
Hide Content
Materials
Materials
Slides
Questions and Answers
Hide Content
SUBSCRIBE & SAVE

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.

*