Appraisals and Evaluations: Reviewing Them Internally


Presented by:
Eric Collinsworth

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    Interagency Appraisal and Evaluation Guidelines require that your institution review the appraisals and evaluations it receives in connection with real estate-related financial transactions. These reviews should be designed and conducted to ensure that appraisals and evaluations comply with the Agencies' appraisal regulations and are consistent with any supervisory guidance and the institution's internal policies. Regulators consider an effective appraisal and evaluation review process to be a key factor contributing to the safety and soundness of an institution that engages in real estate-related transactions.

This webinar will focus on the key points that banks need to be aware of relating to reviewing appraisals and evaluations to ensure they are written in compliance with the Interagency Appraisal and Evaluation Guidelines as well as the most recent revisions to USPAP for appraisals.

Learning Objectives:
  • Regulatory Overview - Discussion of changes brought about by the regulators and what's needed to ensure compliance using in-house reviewers
  • Qualified Review Personnel - A discussion of who is considered appropriately qualified to review appraisals is presented, as well as how to document their qualifications
  • Reviewer Independence - Discussion of the steps necessary to ensure the reviewer's independence is maintained
  • Appraisal Validation - Discussion of the appraisal validation process, when its use is appropriate, and who can perform the validations
  • The Basics of USPAP - Discussion of the history and various parts of USPAP and how each applies to the appraisal report writing process
  • How USPAP Applies to the Reviewer - In-depth discussion of what reviewers should be looking for in the appraisal report to ensure compliance with USPAP
  • Understanding the Various Types of Appraisal Reviews - The differences between a USPAP Compliance Review and a USPAP Standard 3 Review will be discussed along with outsourcing reviews to qualified personnel
  • Evaluation Compliance Review - Discussion of the minimum requirements for an acceptable evaluation report based on the Interagency Guidelines
  • Handling Deficiencies in the Report - How to handle items of concern with the appraiser or evaluator and stay within the regulatory guidelines
  • What to do with a Rejected Report - Discussion of how to handle a rejected appraisal report and the consequences that may follow if not handled properly
  • Developing an Acceptable Review Form - Discussion on how to develop an acceptable review form and properly complete the review to ensure compliance with regulatory guidelines
Program Content and Delivery:
This program focuses on current issues involving the appraisal and evaluation compliance review process and contains information relevant to those who manage or are involved with the appraisal and evaluation review process within a bank. Discussion of the appraisal validation process is presented as this could be considered part of the overall appraisal review. Sample appraisal & evaluation review checklists will be offered. The instructor is a certified appraiser with extensive experience in ordering and reviewing appraisals. He has personally reviewed thousands of appraisals.

Who Should Attend?
Members of the bank who are involved with the writing or review of appraisals and evaluations, as well as other members 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.

About the Speaker: Eric Collinsworth, owner of Appraisal Advisory Associates, has been actively involved in the appraisal industry since 2004. He received the Certified Residential Appraiser designation in 2006. For the first 4 years of his appraisal career, he worked exclusively on residential property appraisal in the Middle Tennessee area, with a focus on OREO and high-end properties. Since 2008, he has worked for and with community banks in Tennessee. 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 analysis, 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 appraisal industry.

In addition to his appraisal review and regulatory compliance work, Eric also holds an Affiliate Broker’s license with a Middle Tennessee real estate firm. His company, Appraisal Advisory Associates, LLC has partnered with a Nashville based appraisal management company to provide full appraisal management services to community banks

You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

This program was recorded in its entirety in September 2013. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_appraisal0913
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Thursday 25 July, 2013.

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