Carl Pry
Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Senior 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.
Tuesday, May 11th, 2010
10:00 am
-
12:00 pm CT
The Institute of Certified Bankers (ICB) is dedicated to promoting the highest standards of performance and ethics within the financial services industry. The Are You Accepting Proper Appraisals? New Regulator Attention to the Requirements has been approved for 2.50 CLBB, 2.50 CRCM credits. This statement should not be viewed as an endorsement of this program or its sponsor.
The valuation process in real estate loans is one of the areas targeted as partly responsible for the ''mortgage meltdown.'' Consequently, there have been critical developments in the regulatory process that lenders and compliance personnel must be aware of. There are changes in USPAP for 2010 and for related forms. The regulatory agencies have issued guidelines regarding appraisal and evaluation practices, to take new methodologies, such as drive-bys and AVMs, into account. Independence of the appraisal process is essential, and you have to be able to prove it to your examiners. Fannie Mae and Freddie Mac have entered into agreements with the New York AG's Office, which they say will continue "in spirit" long after the legal requirement has passed.
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.
Covered Topics Include:
- Appraisal regulations and requirements for lenders
- 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" issue
- USPAP rules and standards, including new issues for 2010 - how do appraiser rules influence what lenders must do?
- New legislative developments - "Appraisal Fairness" standards
- How to achieve appraiser independence - you've got to prove it
- The 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.
