The past few years have seen significant developments in real estate appraisals and evaluation rules and regulations. Revised Interagency Guidelines and new rules under Reg Z have been issued, and we've seen additional requirements finalized recently due to Dodd-Frank. Just in the last year we’ve seen significant proposed and final regulations changing some thresholds and proposing some additional exceptions from the requirement. In some cases (called "flipping transactions"), lenders will even have to obtain two appraisals on the same property for one loan.
Because breakdowns in appraisal practices have been partly blamed for the mortgage crisis, regulators raised their expectations; lenders' appraisal and evaluation programs must include more elements than ever before. Some themes now emphasized by the agencies are independence of the appraiser, and evaluator, reviews, and qualifications.
There are also restrictions against using AVMs (automated valuation models), BPOs (broker price opinions), and tax valuations that have upset many in the industry.
Do you know the requirements? We'll provide in-depth 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 need.
The "Dealing with Appraisals: Regulations and Requirements" webinar has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for Live attendance only. Certification holders must report these credits at https://aba.csod.com.
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.
"Carl is an excellent speaker. If you have additional questions, he always follows up!" - Brenda P., Northampton Cooperative Bank
Continuing Education Credit Information
Dealing with Appraisals: Regulations and Requirements has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for Live attendance only. For questions on certificates, please email email@example.com. Certification holders must report these credits at https://aba.csod.com.