Real Estate Appraisals for Banks - It's Not Just USPAP! An Overview - FIRREA / Interagency Appraisal and Evaluation Guidelines

Have you heard of FIRREA / Interagency Appraisal and Evaluation Guidelines and wondered: What is that and Who are the Agencies? Have you questioned: Why are banks’ appraisal requirements so specific and sometimes different than USPAP? Why is communication with certain parties monitored and/or restricted? Why are some properties appraised many times in a short period of time? Why is an appraisal report sometimes shared with other financial institutions? Why is an As Is market value always needed?

While substantially grounded in USPAP, real estate appraisals and evaluation reports prepared in support of federally related transactions must comply also with the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). To help banks comply with this statutory law and its related regulations, five federal agencies jointly issued the Interagency Appraisal and Evaluation Guidelines (Interagency Guidelines), which provide the framework for banks’ real estate appraisal policies, practices, and procedures.

Come join us for this information-filled 2-hour course to hear answers to common questions on the ins and outs of FIRREA / Interagency Appraisal and Evaluation Guidelines. Delivered to you in a moderator-led panel presentation and discussion with three seasoned bank appraisal review leaders.

Check-in  2:45 pm - 3:00 pm

CE Session:  3:00 pm - 5:00 pm

5:00 pm Networking Social (cash bar)

Panelists:  Michelle Gamache, MAI; Diane Norton, MAI; Steven Hurlbut, MAI

Moderator:  Eli Pascon, SRA

State of CT RE Appraisal Commission - 2 hours CE

AI - 10 points