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CFT
Webinars are purely educational. Instructors are not permitted to sell any
products or services during the presentation.
Program
Content:
The
past few years have seen significant developments in real estate appraisals
and evaluation rules and regulations. Revised Interagency Guidelines and
new rules under Reg Z have been issued, and we’ve seen additional
requirements finalized recently due to Dodd-Frank. Just in the last six
months we’ve seen significant proposed and final regulations changing some
thresholds and proposing some additional exceptions from the requirement.
In some cases (called “flipping transactions”), lenders will even have to
obtain two appraisals on the same property for one loan.
Because
breakdowns in appraisal practices have been partly blamed for the mortgage
crisis, regulators raised their expectations; lenders’ appraisal and
evaluation programs must include more elements than ever before. Some
themes now emphasized by the agencies are independence of the appraiser,
and evaluator, reviews, and qualifications.
There
are also restrictions against using AVMs (automated valuation models), BPOs
(broker price opinions), and tax valuations that have upset many in the
industry.
Do you
know the requirements? We’ll provide in-depth details of the appraisal and
valuation process, from both the lender and appraiser side of the game, to
provide a thorough understanding of what is required and what you need.
Covered
Topics:
- New rules and proposals around exemptions,
threshold amounts, and appraisals in rural areas
- CFPB mortgage regulations under Reg Z – additional
requirements for certain loan types
- Regulations and Interagency Guidelines –
requirements for lenders and brokers
- Clarified independence requirements and their
importance to examiners
- The many forms of appraisals and evaluations – what
can you use and when? AVMs and BPOs aren’t what they used to be
- Can you accept a previous appraisal? Dealing with
“readdressed” and “transferred” appraisals
- USPAP rules and standards – how do appraiser rules
influence what lenders must do?
- How to achieve appraiser independence – you’ve got
to prove it
- Anti-coercion and undue influence provisions of Reg
Z – what can you NOT do (or say)?
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. Please forward email to appropriate
person(s).
Instructor:
Carl
Pry is
a Certified Regulatory Compliance Manager (CRCM) and Certified Risk
Professional (CRP) who is a Managing Director for Treliant Risk Advisors in
Washington, DC. Through his 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 on 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.
“Carl
is an excellent speaker. If you have additional questions, he always
follows up!” – Brenda P., Northampton Cooperative Bank Please forward email
to appropriate person(s).
What
Is A Webinar?:
A
webinar combines the clarity of an audio teleconference with the
interactivity and visual presentation of the internet. All you need to
participate is a telephone and an internet connection. Even if you don't
have an internet connection, you can still participate in the audio
session. Listening to the program over the telephone and following the
written materials is an effective alternative!
Unable
To Attend?:
No
problem. You can purchase a recording of the webinar for future use. You
can choose from either an On-Demand Web Link (Good for 6 months from the
webinar date, unlimited use) or a CD-ROM (includes a paper copy of the
PowerPoint slides).
Viewing
Options (all options include applicable handouts):
All
options include applicable handouts. You can choose to pay by credit card
or be billed. Additional Live Webinar connections are $75 each.
Option 1: Live
Webinar and 7 Days OnDemand Video Playback - $265
Option 2:
OnDemand Video (six months access) - $295
Option 3: Live
and 6 Months of OnDemand Video - $365
Option 4: CD-ROM
Video (Includes OnDemand Video) - $345
Option 5: Entire
Package (all of the above) - $395
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