This webinar will focus on the key points that financial institutions need to be aware of relating to their real estate valuation program and portfolio to ensure they are operating in compliance with regulatory requirements. Discussions will include several suggestions to consider in preparation of regulatory safety and soundness examinations.
Written Policies and Procedures – Are your current documents up to date? A discussion of things to look for and add or revise in your current Appraisal Policy
Appraisal Bias – A discussion of items to look for in the valuation report and suggestions for institutions to consider implementing as part of their fair lending requirements
Reconsiderations – How to handle and document appraisal reconsiderations as well as what to do if a second appraisal is ordered
Minimum Appraisal and Evaluation Standards – A discussion of the minimum requirements of appraisal and evaluation reports for compliance with Interagency Appraisal and Evaluation Guidelines (the Guidelines)
1-4 Family RE Valuation – A discussion of items to consider when engaging the appraiser and what to look for in the final report for safe and sound practices
Commercial RE Valuation – A discussion of items to consider when engaging the appraiser and what to look for in the final report for safe and sound practices; this includes different property and occupancy types
Using Third-Party Vendors – How to document vendor lists and qualifications
Ongoing Collateral Monitoring – A discussion of what the Guidelines say about the lending institution’s responsibilities behind collateral monitoring and suggestions on how to document support
Out-of-Area Transactions and Appraisal From Other Financial Services Institutions – A discussion of additional considerations that should be given to these transactions
Program Content and Delivery:
This program focuses on real estate valuation and portfolio monitoring and contains information relevant to those who manage or are involved with real estate valuation. A reference manual will be included. The instructor is a certified appraiser with extensive experience in ordering and reviewing appraisals, preparing real estate policies and procedures, and very broad knowledge of regulatory guidelines.
Who Should Attend?
Members of the institution who are involved with real estate valuation policies and procedures/compliance, 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.
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.