This webinar will focus on the common mistakes that banks need to be aware of relating to reviewing appraisal reports for minimum compliance with the Interagency Appraisal and Evaluation Guidelines as well as the most recent revisions to USPAP.
This 2-hour program focuses on current issues involving the appraisal compliance review process and contains information relevant to those who manage or are involved with the appraisal review process within a bank. The instructor is a certified appraiser with extensive experience in ordering and reviewing appraisals and has completed thousands of compliance reviews since 2008.
- Qualified Review Personnel and Reviewer Independence - A discussion of the qualifications of the reviewer and the steps necessary to ensure reviewer independence is maintained
- Minimum Expectations of the Compliance Review - A discussion of when compliance reviews are required and why they are an important part of the overall valuation process
- Minimum Regulatory Guidelines - A discussion of the minimum appraisal requirements of the Interagency Guidelines for Appraisals and Evaluations
- USPAP Requirements - A thorough discussion of USPAP and what reviewers should be looking for in the appraisal report to ensure compliance with USPAP
- 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 to qualified personnel
- Analysis of the Approaches to Value - A discussion of each approach to value and how to identify errors within the approaches
- Identifying and Correcting the Most Common Mistakes - Other than errors found within the approaches to value, these most common mistakes will be identified, discussed and analyzed, as well as how to present them to the appraiser for correction
- Handling Serious Deficiencies in the Report – How to handle items of concern with the appraiser and stay within the regulatory guidelines and what to do with a rejected report
Members of the bank who are involved with writing or reviewing appraisal reports, as well as other employees 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.
Eric Collinsworth has been actively involved in the real estate industry since 2004. He became and affiliate broker in 2005 and received the TN Certified Residential Appraiser designation in 2006. Eric is a compliance expert familiar with valuation related regulations. He also teaches regulatory compliance to community bankers and other associations throughout the United States.
Eric has worked for and with community banks in Tennessee and throughout the United States. 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 analyses, 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 real estate valuation portion of the industry. Since then, he has partnered with others to form three other companies in the real estate valuation industry.
Eric enjoys spending time with his family during his spare time in Arrington, TN. He loves being outdoors year round.
*This program will start at 11:00 AM EDT, 10:00 AM CDT, 9:00 AM MDT, or 8:00 AM PDT
**This webinar will be recorded and sent to all registrants. You will receive links to the recording following the program. These recordings have unlimited viewings and are available for up to one year.