Commercial Real Estate Training: Appraisal Engagement, Appraisal Reviews & Evaluations
Part A: Engaging Appraisers: Compliance with the Regulations covers federal appraisal regulations and federal banking regulations. It is divided into four sections. The first section covers the history and background of regulations governing single-unit (family) residential and commercial real estate, why this regulation was needed, and the changes it brought to the banking industry. Participants learn about federal appraisal regulations such as USPAP and its three most important rules for appraisers—Ethics Rule, Competency Rule, and Scope of Work Rule. This is followed by the banking regulations that also cover appraisals, which include two congressional laws—FIRREA and FDICIA—and the banking industry’s response to these laws, the IAEGs and FAQs – General and FAQs – Subdivisions. Attendees will learn the procedures for selecting an appraiser, which transactions require an appraisal, minimum appraisal standards, transactions that permit evaluations, evaluation development and content, requirements for reviews, and requirements concerning third-party arrangements. The third section covers the process for ordering an appraisal—developing, maintaining, and monitoring a vendor panel. The fourth section provides more insight into USPAP’s Scope of Work Rule and how it affects ordering an appraisal that is in compliance with both sets of regulations. Participants will learn about the documents that banks need to provide to the appraiser, inspection requirements, market analysis, selection of approaches, and level of research and analyses. The handbook can serve as a useful reference to attendees.
|State Approvals:||Search by State|
|Number of Components:||4|
|Total Number of Pages:||456|
|For Further Reading:||None Specified|