9:00 am – 10:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
The Interagency Appraisal and Evaluation Guidelines of December 2010 clearly outline use of evaluations for both new and subsequent transactions. Financial institutions, however, still struggle with evaluation content and developing a reasonable approach to validate existing valuations. Although it might be cost-effective to use a recent evaluation or validate an existing appraisal, you cannot risk having an inaccurate market value conclusion.
This informative presentation will provide the tools and information to properly complete an internally prepared evaluation. It will provide insight on using previously prepared appraisals or evaluations for subsequent transactions and explain when a new appraisal should be ordered.
Continuing Education: Attendance verification for CE credits upon request
- Evaluation content and supporting information
- Three approaches to value: comparative, income, and cost
- Use of tax assessment value and automated valuation models
- Is a broker’s price opinion ever appropriate?
- Appraisal exemptions
- Documenting and determining validity of previously developed appraisals or evaluations
- What is a subsequent transaction and when should a new appraisal be ordered?
- Independence standards: should different people order, develop, and review evaluations or validations?
- TAKE-AWAY TOOLKIT
- Sample validation worksheet
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
The presentation discusses all aspects of evaluation development and the validation of previously prepared appraisals and evaluations. The webinar should be attended by those individuals responsible for underwriting real estate collateral. Specifically, this presentation will address issues concerning lending officers, loan support personnel, credit administrative staff, auditors, and loan reviewers.
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.