Appraisal List and the Engagement Process

Duration: 60 Minutes
This webinar focuses on the importance of approved appraiser list stratification to enhance appraisal quality and regulatory compliance within the engagement process. One of the primary ways to speed up the review process is to improve appraisal quality. Cost and risk to the institution can also be impacted by the scope of appraisal assignments: matching quality level to transaction risk.
Appraiser Engaging Process
Instructor: Heidi Lee
Product ID: 508161
Objectives of the Presentation
  • Understand federal law and bank regulatory requirements for appraisal interaction and engagement
  • Learn the importance of vetting appraisers for general qualifications and specific competency
  • Learn alternatives options for vetting appraisers
  • Learn the importance of appraisal procedures for standardizing the bidding and engaging process
  • Learn the importance of approved list stratification
Why Should you Attend
  • The Interagency Appraisal and Evaluation Guidelines require banks to ensure appraisal quality
  • How does that regulatory mandate translate into practice?
  • How can appraisal quality vary with risk?
  • How do the approved appraiser list and the engagement process impact appraisal quality?
  • The webinar will answer these and other engagement process questions
Areas Covered
  • Pertinent financial institution regulations and federal banking law that apply
  • Best practices for approved appraiser list monitoring
  • Importance of establishing a process to critique and improve approved list appraiser quality
  • Identify legitimate and illegitimate reasons to engage an appraiser who is not on the bank's approved list
  • Examine how high risk transactions and construction loans should be differently handled in the engagement process
  • Comparison of how residential and commercial engagement practices may differ and problem areas for banks
Who will Benefit
  • CEOs and presidents of community banks
  • Credit administration officers
  • Chief appraisers/appraisal function managers
  • Credit officers involved in the appraisal function
  • Credit reviewers and other credit side personnel
  • Lending group managers
  • Employees tasked with elements of the appraisal function
Topic Background
Financial institutions (banks and credit unions) make loans of all sizes. Collateral is obtained to provide the institution with some form of repayment in the event of borrower default. As such, collateralized loans are considered to have lower risk than unsecured loans and longer amortization periods are made available when long-lasting real estate collateral is provided. But just having collateral does not necessarily ensure lower risk for the institution. Real estate values shift, due to market forces and specific property issues. Thus, bank regulators have embedded the valuation process within all real estate loan production. Further, institutions are mandated to install processes and personnel that can identify risk levels and effectively manage the appraisal program with greater due diligence when risk is higher. But real estate appraising is a different industry than banking, so institutions often face a steep learning curve in efforts to comply with appraisal regulations. This webinar provides introductory information for banks and credit unions to work toward meeting the regulator's appraisal program requirements.
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Live Session - How it works
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  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
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  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
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.
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