Understanding Appraisals and Appraisal Review Concepts for Lenders
- Speaker:Heidi Lee
- Product Code:GRC-90522
- NASBA CPE: 1.8
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This webinar training will break down common terms used in the appraisal industry as well as cover the economics of real estate markets: the impact of the principles of value, the forces of value, and real estate market life cycles.
Why Should You Attend:
The Interagency Appraisal and Evaluation Guidelines have put appraisals and their review front-and-center for financial institutions and examiners. Initially, the regulators focused on appraisal function compliance within larger banks. In recent years, however, examiners have shifted their focus to smaller institutions. As a result, appraisal function compliance has become a larger issue for community banks. This webinar lays the groundwork for better appraisal review compliance.
- Gain insight into the appraisal process: a general understanding of what appraisers can and cannot do
- Learn how the regulators view the appraisal selection process and the review process
- Learn what the regulators expect of appraisal reviewers
- Learn basic review mechanics and the dos and don’ts of reviewing
- Get tips for dealing with appraisers when the review identifies issues of concern
- Learn methods to improve the quality of appraisal reports submitted to your financial institution
Areas Covered in the Webinar:
- The defined terms and a specific process in the appraisal industry that appraisers must follow
- Economics of real estate markets: the impact of the principles of value, the forces of value, and real estate market life cycles
- Regulatory requirements for reviewer independence and reviewer qualifications
- Scaling the review assignment with the appraisal assignment and the transaction risk
- Best practices for reviewers
- Acceptable and unacceptable reviewer communication methods
Who Will Benefit:
- Chief appraisers and appraisal managers
- CEOs and presidents of community banks
- Credit administration officers
- Credit officers involved in the appraisal function
- Credit reviewers and other credit side personnel
- CRE lending group managers
- Employees who bid and engage appraisers for the bank
- Employees who review commercial appraisal
Bank Consultant and Review Appraiser, Appraisal Review and Consultation
Heidi Lee is a commercial review appraiser with 18 years’ experience at Whitney National Bank, a mid-sized financial institution. Since retiring from Whitney Bank in 2011, Ms. Lee has founded Appraisal Review & Consultation to share her skills and appraisal regulatory knowledge base with other financial institutions. Her firm offers commercial review services and appraisal policy/procedures assistance to small- and medium-sized banks across the country.
Ms. Lee has earned the MAI and the AI-GRS designations issued by the Appraisal Institute and the MRICS designation issued by the Royal Institution of Chartered Surveyors. She holds a general appraiser certification in Louisiana and Texas and was appointed by two governors to serve on the Louisiana Real Estate Appraisers Board. Additionally, she is a member of RMA (Risk Management Associates), with special interest in credit risk and operational risk.