Appraisal Program Guidance

Duration: 90 Minutes
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There is no "one size fits all" when it comes to a regulatory compliant appraisal program, but good appraisal programs share some common traits. This webinar examines alternatives and best practices for appraisal programs, all of which balance production enhancement and risk mitigation. Regulatory compliance starts with a reasoned and comprehensive appraisal program, which flows through to policy and procedures into every day practice in the bank.
Appraisal and Evaluation guidelines
Instructor: Heidi Lee
Product ID: 507324
Objectives of the Presentation
  • Learn how the appraisal program differs from the bank's appraisal policy
  • Learn how an appraisal program set the framework for a bank's appraisal function
  • Learn what the Interagency Appraisal and Evaluation guidelines specify about a bank's appraisal program
  • Learn the three key components of any bank's appraisal function
  • Learn what the regulations specify about appraisal policy issues and what items can be addressed in appraisal procedures documents
  • Learn the importance of appraiser monitoring to enhance overall appraisal quality
Why Should you Attend
As per the Interagency Appraisal and Evaluation Guidelines, a financial institution's appraisal program must incorporate eight key components of its appraisal function. A bank must thus have a comprehension of the eight regulatory requirements, plus an understanding of how they can be incorporated into a codified plan and implemented in accordance with that plan on a day-to-day basis. If your bank has not gained that understanding and taken those specific steps, this webinar will be a useful tool in starting that process.

Areas Covered
  • The webinar provides a regulatory background for the appraisal program, as it must be addressed in a bank's appraisal policy
  • Provides an overview of options for operating the bank's appraisal function
  • Addresses appraiser and appraisal function independence, on a policy level and on an operational level
  • Covers bidding and engaging of appraisers, as a component of the appraisal program
  • Learn best practices for tiering the approved appraiser list to improve overall appraisal quality
  • Stresses the importance of timely review of appraisals and evaluations before the final credit decision for full regulatory compliance
  • Addresses use of evaluations and validations in a regulatory compliant appraisal program
Who will Benefit
  • Chief Appraisers and Appraisal Managers
  • Employees who bid and engage appraisals for financial institutions
  • Employees who review appraisal reports
  • Employees who perform evaluations and/or validations for banks
  • CEOs and Presidents of community banks or credit unions
  • Credit Administration Officers
  • Credit Officers involved in the appraisal function
Topic Background
Financial institutions 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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  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
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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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