Dealing with Appraisals: Regulations and Requirements

Real estate appraisal and evaluation continues to change, from additional regulatory requirements and exceptions to new rules to hot topics like racial bias. Ensure you understand what is required for appraisal and evaluation from both the lender and appraiser sides of the game.

Recorded Wednesday,
March 20th, 2024
Presented by Carl Pry
2h total length
2.5 CRCM Credits
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Lending
  • Lending Compliance
  • Branch Manager
  • Compliance Officer
  • Consumer Lender/Retail Banker
  • Internal Auditor
  • Loan Closer
  • Loan Operations Manager/Specialist
  • Mortgage Lender
  • Senior Management

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Regulators have raised their expectations and lenders' appraisal and evaluation programs must include more elements than ever before. Some themes now emphasized by the agencies include independence of the appraiser, and evaluator, reviews, and qualifications, (Jared, could you ask for clarification on this phrase – meaning is not clear) and restrictions against using AVMs (automated valuation models), BPOs (broker price opinions), and tax valuations.

Do you know the requirements? We'll provide in-depth details of the appraisal and evaluation process to help you develop a thorough understanding of what you need to know.

What You'll Learn

  • Appraisal vs. evaluation: definitions
  • Exemptions, threshold amounts and appraisals in rural areas
  • CFPB appraisal regulations under Reg Z
  • Proposed new rules for AVMs
  • USPAP rules and standards
  • Achieving appraiser independence
  • Anti-coercion and undue influence provisions of Reg Z
  • Racial bias in appraisals

Who Should Attend

Real estate lenders, compliance officers, auditors, underwriters, appraisers (in-house or external), closing agents, management, and anyone else involved in the real estate or residential lending process with a need to understand the current state of appraisal regulation and requirements.

Carl Pry

Instructor Bio

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Senior Advisor for Asurity Advisors in Washington, DC. Through his more than 30-year working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves as the Chair of the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

Continuing Education Credit Information

Dealing with Appraisals: Regulations and Requirements has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.