Webinar: Consumer Real Estate Appraisal Reviews
June 27, 2023 3:00 pm - 4:30 pm
Appraisals are a key element of any loan decision because they depict the market valuation at the time of the loan.
Both safety and soundness and compliance examiners are carefully scrutinizing appraisal processes – from policies, to procedures, to independent ordering, to appraisal reviews, and more. Are your policies and procedures up to date? How will they stack up to the examiners’ expectations?
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Understand the appraisal rule and USPAP requirements
- Determine examiners’ 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
- Identify potential fair lending issues and bias in appraisals and AVMs
- Utilize provided tools to thoroughly review a real estate appraisal
WEBINAR DETAILS
In recent months, the regulatory agencies have shined a spotlight on discriminatory appraisals. Accepting a discriminatory appraisal would increase your liability under FHA and ECOA, and cause consumer harm by limiting access to credit or increasing the costs of credit. To mitigate these risks, your institution should have a thorough appraisal review process in which each appraisal is independently assessed to ensure the quality is commensurate with the complexity of the subject property and transaction risk and is free of appraiser bias.
It is essential that financial institutions employ effective, independent appraisal and evaluation processes. Appraisers engaged to conduct appraisals and evaluations should have the knowledge and expertise to perform reviews in accordance with regulatory guidance and sound banking standards. This session will review a sample residential loan appraisal and identify what to look for and what may cause concern. It will guide you through a sample written policy, procedures, and sample checklists, and discuss how to identify and correct common mistakes made during the review process.
WHO SHOULD ATTEND?
This informative session will benefit loan officers, loan operations staff, compliance officers, and anyone responsible for ordering and reviewing appraisals.
TAKE-AWAY TOOLKIT
- Real estate appraisal checklist
- Real estate appraisal review checklist
- Sample real estate evaluation
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
Speaker: Dawn Kincaid, Brode Consulting Services, Inc.
Dawn Kincaid began her banking career while attending The Ohio State University. She has over 20 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized the implementation of new products and services.
Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.
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Brode Consulting Services has been providing exceptional consulting services to community banks since 1998. Their consultants have extensive experience in the industry and understand the needs and challenges of community banks. Founder, Bill Brode, started in banking in 1973 and transitioned to consulting in 1989. He started his own consulting firm in 1998 to continue providing community banks with top-notch consulting services, including strategic planning, lending, compliance, and marketing. Brode Consulting Services is dedicated to exceeding client expectations and has worked with community banks and associations across the country.