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#1067728 - 10/21/08 02:18 PM Commercial Appraisal Reviews
Many Hats Offline
Platinum Poster
Joined: May 2008
Posts: 915
Orlando, FL
We need to provide some training to the individuals who will be conducting technical reviews of all the commercial appraisals we have done. Some have more experience than others, but we want to make sure they understand what to look for.

Does anyone have any material they can share or a link to a resource for this kind of training?

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Lending Compliance
#1067823 - 10/21/08 03:35 PM Re: Commercial Appraisal Reviews Many Hats
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,259
Florida
MH, the best class that I was ever in was put on by an appraiser that taught appraisal classes to new appraisers. The bank asked him to put on a training session for 4 hours on a Saturday (and paid him). He brought in examples, and an understanding of what appraisers could do and how appraisals could be manipulated.

The class was awesome, the handouts great and there were lenders, processors, audit, fraud and compliance personnel. The regulators were happy and the internal reviews were a lot better. Appraisers actually stopped giving us second-hand work when the bank knew what questions to ask, and where shortcuts might be taken. Check for an instructor with your local appraisal board.
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Integrity. With it, nothing else matters. Without it, nothing else matters.

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