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This two hour webinar recording focuses on the key points that banks need to be aware of relating to writing their own real estate evaluations to ensure they are written in compliance with the Interagency Appraisal and Evaluation Guidelines.
This recording focuses on the development, support and reporting process for real estate evaluations and contains information relevant to those who manage or are involved with the real estate valuation process within a bank. An in-depth discussion of the development of an evaluation will be presented as well as a focus on how to support the estimated market value given. A reference manual will be included.
- Selecting a Qualified Evaluator – Discussion of items to consider when selecting the person to perform the evaluation and how to document their qualifications
- When is an Evaluation Report Acceptable? – Discussion of when the use of an evaluation report is appropriate; this includes discussion of the new thresholds
- Minimum Evaluation Content – In-depth discussion of the minimum requirements of an evaluation report
- Comparable Selection – A discussion of resources available and how to document the results of your comparable search
- Supporting the value – Analyzing and reporting the Sales Comparison, Income and Cost Approaches with suggestions for using each approach
- Qualitative Analysis – Suggestions for supporting the value indicated through qualitative analysis and documenting the results properly for compliance purposes
- Reconciling the Sales Used and the Approaches Completed – Notes for reconciling the sales used for proper support of the Sales Comparison Approach and proper reconciliation of all approaches used
- Validating an Existing Report – Discussion of items that could impact the current report’s validity and how to support the use of an existing report or when to complete a new report.
Members of the bank who are involved with the valuation program, as well as other members that will rely on evaluations 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.