Learning Objectives:
- Available Report Options and When Each is Needed - A discussion of the various types of appraisal or evaluations reports and when their use is appropriate
- Appraisers and evaluators - A discussion of who can perform each valuation type and the steps necessary to qualify the individual
- Keeping it Independent - Discussion of the steps necessary to ensure the appraiser's, evaluator's and reviewer's independence is maintained; Also includes a discussion of who is considered appropriately qualified to review appraisals is presented, as well as how to document their qualifications
- Minimum Appraisal Standards - Discussion of minimum appraisal standards, the appraisal development process, and transactions that will require an appraisal
- USPAP's Role in Ordering Appraisals - Includes a discussion of USPAP and what portions should be considered in ordering an appraisal
- Understanding the Scope of Work - The three approaches to value and the reconciliation section of the appraisal will be discussed, including discussion on the regulatory opinion of the Scope of Work
- Minimum Evaluation Standards - A discussion of when the use of an evaluation is acceptable as well as minimum evaluation requirements necessary for an acceptable evaluation
- Understanding the Various Types of Reviews - The differences between an Appraisal Compliance Review and a USPAP Standard 3 Review will be discussed along with outsourcing reviews; also includes discussion of the Evaluation Compliance Review
- Developing an Acceptable Review Form - Discussion on the minimum review standards in order to meet regulatory guidelines and how to document them in a form style or narrative review
This program focuses on current issues involving ordering & reviewing appraisals and contains information relevant to those who manage or are involved with the appraisal and evaluation process within a bank. A reference manual will be included with resources with sample engagement letters and appraisal & evaluation review checklists. The instructor is a certified residential appraiser with extensive experience in ordering and reviewing appraisals.
Webinar Reviews:
Great presenter - have done several appraisal seminars and this one was the most informative - pmclaughlin
Very good webinar - kaybrown