Course description

This webinar will focus on the key points that financial institutions need to be aware of relating to their real estate valuation program to ensure they are operating in compliance with Interagency Appraisal and Evaluation Guidelines and other regulations.    

 

Learning Objectives:

  • Keeping it Independent – Discussion of the steps necessary to ensure the appraiser’s independence is maintained
  • Types of Valuation Reports and When Each is Needed – A discussion of the various types of appraisal and/or evaluation reports and when their use is appropriate
  • Minimum Appraisal Requirements
  • USPAP’s Role in Ordering Appraisals 
  • 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 
  • Qualified Review Personnel – A discussion of who is considered appropriately qualified to review appraisals is presented, as well as how to document their qualifications
  • 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
  • Spotting a Good or Bad Appraisal – How to discuss items of concern with the appraisers and how to document and create a paper trail when necessary 
  • Evaluation Requirements and Procedures – A discussion of minimum evaluation requirements, composition and handling their reviews

 

Program Content and Delivery:

This program focuses on current issues involving ordering and reviewing valuation reports and contains information relevant to those who manage or are involved with the appraisal and evaluation process within an institution.  A reference manual will be included.  Sample appraisal and evaluation review checklists, Engagement Letters and/or other samples are available upon request.  The instructor is a certified appraiser with extensive experience in ordering and reviewing appraisals.  

 

Who Should Attend?

Members of the institution 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.

 

Instructor(s)

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.

Course curriculum

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