Program Description:

The valuation process in real estate loans is one of the areas targeted as partly responsible for the “mortgage meltdown.” As a result, there have been critical developments in the regulatory process that lenders must be aware of. Independence of the appraisal process is essential, and Fannie Mae and Freddie Mac have entered into revised agreements with the New York AG’s Office, putting new wrinkles into conforming loans.

Do you know the requirements? We’ll go in-depth on the details of the appraisal and valuation process, from both the lender and appraiser side of the game, to provide a thorough understanding of what is required and what you have to have.

This 2-Hour Webinar Covers:

• Appraisal regulations and requirements on the lender side
• The many forms of appraisals and evaluations – what can you use and when?
• Interagency Appraisal and Evaluation Guidelines: increasing attention from examiners, plus proposed changes
• Can we accept a previous appraisal? Dealing with the “readdressed appraisal”
• USPAP rules and standards, including Scope of Work and Advisory Opinions – how do appraiser rules influence what lenders must do?
• Potential developments – “Appraisal Fairness” standards
• How to achieve appraiser independence – you’ve got to prove it
• The revised NY AG agreements – how these will impact your operations (more than you think)

Who Should Attend:

Real estate lenders, compliance officers, auditors, underwriters, appraisers (in-house or external), closing agents, management, and anyone else involved in the real estate or residential lending process with a need to understand the current state of appraisal regulation and requirements.

Presenter:

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Vice President and Compliance Manager for a large financial institution in Ohio. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at dozens of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.