This is a 90-minute webinar.
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
Time for a residential appraisal compliance check-up! Gain a solid understanding of the rules surrounding residential real estate appraisals, including examples of compliance red flags that can lead to violations.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Identify red flags in residential appraisal compliance which could lead to citations
- Confidently discuss requirements of Regulation B and the provision of appraisal for both consumer and commercial purpose transactions
- Understand independence requirements pertaining to the appraisal management process, including specific requirements of Regulation Z
- Clearly understand content requirements for evaluations including considerations for automated valuation models and tax assessment valuations
The appraisal of residential real estate is a critical component of the underwriting process for both consumer and commercial transactions. Conceptually this should be a relatively simple process: we order an appraisal or develop an in-house evaluation, derive market value from the valuation document and then utilize that market value as part of our decision to originate a loan. However, this seemingly easy process can elevate compliance risk when an understanding of the multiple rules surrounding the appraisal of residential real estate are not understood by the institution.
This presentation will bring focus to the various regulatory requirements surrounding residential real estate appraisals and evaluations. We will discuss components of Regulation B (Equal Credit Opportunity Act) and Regulation Z (Truth in Lending Act) regarding the valuation of residential real estate. Additionally, the December 2010 Interagency Appraisal and Evaluation Guidelines and subsequent Agency statements will be discussed. Topics such as appraisal disclosure requirements, independence, USPAP, evaluation content, and the use of technological tools such as automated valuation models will be included in the presentation. Attend this session to gain a better understanding of the rules surrounding residential real estate appraisals, including examples of compliance red flags that can lead to violations.
Attendance certificate provided to self-report CE credits.
WHO SHOULD ATTEND?
This informative session is designed for those with appraisal compliance responsibility such as frontline loan officers and processors. Additionally, those responsible for monitoring compliance, such as the compliance officer and internal auditor, will benefit from this presentation.
- Appraisal compliance checklist (Please note this is not an appraisal review checklist)
- Employee training log
- Interactive quiz
DON'T MISS THIS RELATED WEBINAR!
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Tuesday, September 28, 2021
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.