New Interagency Guidance on Reconsiderations of Value
February 12, 2025
Live Webinar
DateFeb 12, 2025Duration90 minutes
08:00 AM PST09:00 AM MST
10:00 AM CST11:00 AM EST
- Unlimited connections for your institution
- Available on desktop, mobile & tablet
- Take-away toolkit
- Presenter’s contact info for questions
On-Demand Webinar
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
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
NOTE: All materials are subject to copyright. Transmission, retransmission,
or republishing of any webinar to other institutions or those not employed by
your institution is prohibited. Print materials may be copied for eligible
participants only.
Presented By
Brode Consulting Services, Inc.
© 2024 FINANCIAL EDUCATION & DEVELOPMENT, INC
