Webinar: New Interagency Guidance on Reconsiderations of Value
February 12, 2025 3:00 pm - 4:30 pm
Join us for a dissection of the new interagency guidance and translate it into action steps to ensure your policies and procedures address the expectations before an ROV is needed.
From receiving, processing, communicating, and documenting the ROV process, this session will cover the critical issues, including additional fair lending steps to consider when the valuation may be the result of appraisal bias.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Develop policies and procedures for the reconsideration of value (ROV) process, including consumer communications
- Understand action steps to resolve an ROV request initiated by the lender or applicant
- Incorporate the ROV process into the institution’s fair lending program
- Train staff on critical components of the process
- Recognize ROV guideline requirements from major investors (Fannie/Freddie)
- Address process risks and challenges
- Monitor and appropriately address consumer complaints for valuation concerns
- Maintain appraiser independence while sharing critical information
WEBINAR DETAILS
A credible valuation is a critical component of all residential real estate loan requests. However, what happens when the valuation is determined to be inaccurate, missing data, or based on a discriminatory basis? What if a borrower disputes the valuation? How can you maintain appraiser independence yet share relevant information?
It’s critical to have developed a game plan to address these situations and more! While not a required playbook, the recently issued interagency guidance provides numerous items to consider as your institution develops policies and procedures to address valuation concerns identified either through the internal review process or borrower communication.
WHO SHOULD ATTEND?
This informative session will benefit those involved in the residential real estate lending process where loans are secured by a single 1-to-4 family residential property. That includes real estate lenders, appraisal reviewers, underwriters, compliance officers, fair lending officers, risk management staff, and auditors.
TAKE-AWAY TOOLKIT
- Sample reconsideration of value request form
- Sample reconsideration of value notice
- Consumer complaint log
- 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: Molly Stull, Brode Consulting Services, Inc.
Molly Stull began her career as a teller while working on her undergraduate degree and has continued working in the financial industry ever since. She has experienced the growth of a hometown bank, branch mergers, charter changes, name changes, etc. Molly has activated business resumption plans, performed secondary market quality control reviews, processed wires, filed SARs, and coordinated reviews with external auditors and examiners. Her favorite role has always been educating staff and strongly believes that if staff understands the reason for a process they will be more compelled to follow the procedures. Molly holds a bachelor’s from the University of Akron and an MBA from Ashland University.