NOTE: For more information about how appraisers can provide evaluations for lenders, see the Appraisal Institute’s Guide Note 13 [https://www.appraisalinstitute.org/assets/1/7/guide-note-13.pdf] and Advisory Opinion 13 from the Appraisal Standards Board of The Appraisal Foundation http://www.l-cam.com/wp-content/uploads/2013/04/website-thing.pdf.
The views and materials presented in this webinar represent only the opinions and views of the presenters and/or speakers. Although the materials may have been reviewed by members of the Appraisal Institute, the views and opinions expressed herein are not endorsed or approved by the Appraisal Institute as policy unless adopted by the Board of Directors pursuant to the Bylaws of the Appraisal Institute. While substantial care has been taken to provide accurate and current data and information, the Appraisal Institute does not warrant the accuracy or timeliness of the data and information contained herein. Further, any principles and conclusions presented in this webinar are subject to court decisions and to local, state, and federal laws and regulations and any revisions of such laws and regulations.
This webinar is presented for educational and informational purposes only with the understanding that the Appraisal Institute is not engaged in rendering legal, accounting, or other professional advice or services. Nothing in these materials is to be construed as the offering of such advice or services. If expert advice or services are required, readers are responsible for obtaining such advice or services from appropriate professionals.
This product is a recording of the Appraisal Institute webinar that was conducted on May 20, 2015.
Once the Appraisal Institute confirms your payment, you will receive an e-mail containing a link to the webinar recording.
Please note: The interactive features of the webinar (e.g. poll/survey questions and the final evaluation) are NOT available in the recording. Appraisal Institute continuing education credit is NOT available for viewing the recording.
Evaluating the Evaluation
Date: May 20, 2015
Duration: 2 hours
This webinar surveys the regulatory environment surrounding non-appraisal evaluation products, particularly the impact of the most recent issuances, such as the Interagency Appraisal Evaluation Guidelines, Regulation B, the Equal Credit Opportunity Act, the Consumer Finance Protection Bureau, valuation disclosures for one- to four-unit dwellings, and the impact on financial institutions.
Compliance options and their associated risks will be discussed, from internal bank products to external evaluation products to AVMs. A brief survey of competing products will be identified, plus suggestions on ways to evaluate the "fit" of program options.
This webinar will:
Provide insight into the regulatory environment and its challenges.
Discuss compliance options and their associated risks.
Share strategies for evaluating the “fit” of program options across a range of competing products.
Provide real world examples from both banking and regulatory perspective.
Douglas Potts, MAI, is an AI approved instructor and serves as a Candidate for Designation advisor and on a variety of national and chapter committees. He joined the Appraisal Institute in 1989 and received his MAI designation in 2004. Doug was the 2006 recipient of the William T. Anglyn Award, and was a panelist and speaker at the Appraisal Institute Annual Meeting in 2011. In his hometown of St. Louis he was the Greater St. Louis Chapter Nominating Committee president from 2007-2008; was a member of the Leadership Development & Advisory Council the year previous. He has been the National Government Relations Committee representative for Region 2 since 2010. Doug is vice president of Commerce Bancshares, Inc., in St. Louis, a position he has held since 2004 and has been with the company since1993. Doug has been involved in the real estate valuation profession for 32 years.
George R. Mann, MAI, SRA, has worked for Fifth Third, SunTrust, Kaiser Engineers, and the City of Newport News among others. His roles have ranged from Fee Appraiser to Tax Assessor to Chief Appraiser at two $100+ Billion financial institutions. George is uniquely positioned as having industry insight into financial institutions both internally and externally. George's responsibilities have included consulting with regulators regarding bank audits, aiding evaluation teams in compliance, performance of evaluations on properties, developing and maintaining appraisal departments, due diligence performance, litigation support, expert witness testimony, and training of personnel in appraisal management departments. George is active in the Appraisal Institute as both a member and instructor due to his industry expertise. He is also a Certified General Appraiser in the State of Kentucky.
Carmen Holly is a senior supervisory financial analyst at the Federal Reserve Board where she serves as a subject matter expert and policy analyst specializing in all topics related to commercial credit, real estate financing and real estate appraisals. She currently leads the Federal Reserve Policy team for Dodd Frank rulemaking related to appraisals. She was also the Federal Reserve policy lead for recent interagency guidance on leveraged lending. Prior to joining the Federal Reserve Board, Carmen enjoyed a 22-year career in commercial banking as a commercial lender, portfolio management team leader and loan review specialist. She holds a bachelor’s degree in economics from The Pennsylvania State University and is a graduate of the Stonier Graduate School of Banking. She also maintains a commercial Credit Risk Certification (CRC) as designated by The Risk Management Association.