Webinar: Consumer RE Appraisals: Ordering, Controls, Thresholds, USPAP Requirements & Compliance
November 14, 2024 3:00 pm - 4:30 pm
Are your consumer real estate appraisal practices effective and examiner proof?
This session will review a sample residential loan appraisal and identify what to look for and what may cause concern. It will go through a sample written policy, procedures, and sample checklists, and discuss the good, the bad, and the ugly seen in appraisals.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Understand the appraisal rules and USPAP requirements
- Recognize requirements for automated valuation models (AVMs), tax valuations, and broker price opinions
- Anticipate examiner expectations for your appraisal policy and review process
- Distinguish when a full appraisal is required, versus an evaluation
- Implement a strong review process for real estate appraisals
- Identify potential fair lending and bias issues in appraisals and AVMs and develop procedures for reconsiderations of value
- Employ provided tools to thoroughly review a real estate appraisal
WEBINAR DETAILS
A key element of any loan decision is a sound appraisal that truly depicts the market valuation at the time of the loan. Both compliance and safety and soundness examiners carefully scrutinize appraisal procedures – from policies, to procedures, to independent ordering, to appraisal reviews, and more. Are your policies and procedures up to date? How will your procedures stack up to the examiners’ expectations in light of recent new rules for AVMs and fair lending guidance for appraisal and AVM reports?
Financial institutions must employ effective, independent appraisal and evaluation processes within the lending function. 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. Appraisals need to be independently assessed to ensure the quality is commensurate with the complexity of the subject property and risk of the transaction.
WHO SHOULD ATTEND?
This informative session is designed for 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.