Real Estate Appraisals Update: Regulations and Best Practices

One of the more cumbersome areas in real estate lending, both commercial and residential, is the appraisal process. While the requirements of our regulators may not be the issue, the fact that there are multiple guidelines and/or regulatory documents to understand and navigate can make it difficult to handle the appraisal process correctly. This program provides for directors an overview of these various guidelines and documents, and how the October 2018 Interagency Frequently Asked Questions on the Appraisal Regulations and the Interagency Appraisal and Evaluation Guidelines did much to further reduce the volume of rules-bearing documents and clarified the role of the primary document, the 2010 Interagency Guidelines.  It also covers several best practices that your bankers can employ to make the appraisal process become a contributor to the lending process, rather than a necessary evil or bottleneck.

Covered Topics:

  • The Evolution of Appraisal Regulation
  • FFIEC Comments on Commercial vs Residential
  • Home Valuation Code of Conduct (HVCC)
  • Uniform Mortgage Data Program (UMDP) and Uniform Appraisal Dataset (UAD)
  • Appraisal FAQs
  • Interagency Guidelines
  • Appraisal Issues and Best Practices
  • Levels of Review
  • How to Build an Appraisal/Property Database
  • Developing a Bid Process