Red Flags in Residential Appraisal Compliance

Date:

Feb 2, 2021

3:00 pm – 4:30 pm EST
(90-minute webinar – recording also available)

Time for a residential appraisal compliance check-up! Gain a solid understanding of the rules surrounding residential real estate appraisals, including examples of compliance red flags that can lead to violations.

WEBINAR DETAILS

The appraisal of residential real estate is a critical component of the underwriting process for both consumer and commercial transactions. Conceptually this should be a relatively simple process: we order an appraisal or develop an in-house evaluation, derive market value from the valuation document and then utilize that market value as part of our decision to originate a loan. However, this seemingly easy process can elevate compliance risk when an understanding of the multiple rules surrounding the appraisal of residential real estate are not understood by the institution.

This presentation will bring focus to the various regulatory requirements surrounding residential real estate appraisals and evaluations. We will discuss components of Regulation B (Equal Credit Opportunity Act) and Regulation Z (Truth in Lending Act) regarding the valuation of residential real estate. Additionally, the December 2010 Interagency Appraisal and Evaluation Guidelines and subsequent Agency statements will be discussed. Topics such as appraisal disclosure requirements, independence, USPAP, evaluation content, and the use of technological tools such as automated valuation models will be included in the presentation. Attend this session to gain a better understanding of the rules surrounding residential real estate appraisals, including examples of compliance red flags that can lead to violations.