Both safety and soundness examiners and compliance examiners are carefully scrutinizing your appraisal procedures – from policies, to procedures, to independent ordering of appraisals, to appraisal reviews and more. Are your policies and procedures up to date? How will your procedures stack up to the examiners’ expectations?
It is essential that financial institutions 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.
In this session, we will review a sample residential loan appraisal and identify what you need to look for and what may cause you concern. We 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.
What You’ll Learn
- Understand the appraisal rule and USPAP requirements
- Learn examiner 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
Who Should Attend
This informative session is designed for Mortgage Loan Officers, Loan Operations Staff, Compliance Officers, and anyone responsible for conducting appraisal reviews at your institution.