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Appraisal Requirements for Financial Institutions (+ Manual)

$300.00

Category:

The recent housing boom has re-triggered the emphasis on the rules on real estate appraisals and evaluations. With attention on credit standards increasing in general, it’s more important than ever to be aware of the key compliance requirements for real estate appraisals and evaluations.

Description

This 3-hour seminar will highlight FIRREA, Regulation B (ECOA) and Regulation Z (TILA) regulatory requirements:

  • Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) requires standards be imposed on the performance of real estate appraisals in connection with federally related transactions.
  • The Equal Credit Opportunity Act, as implemented in Regulation B, requires the provision of notice, and copy of appraisal or valuation, in dwelling-secured transactions in an effort to address potential discrimination.
  • Finally, the Truth-in-Lending Act, as implemented in Regulation Z, includes valuation independence rules for loans secured by a principal dwelling, and appraisal requirements under the Higher-Priced Mortgage Loan section to provide greater protections for consumer loans.

During the Appraisal Requirements seminar, we will discuss the following topics:

  • Appraisal Regulations, incorporating the Interagency Appraisal and Evaluation Guidelines
    • Policies and Procedures; Independence
    • Transactions in which an appraisal or evaluation is required
  • Equal Credit Opportunity Act / Regulation B, incorporating CFPB fact sheets
    • Appraisal notice and copy
  • Truth-in-Lending Act / Regulation Z
    • Higher-Priced Mortgage Loans (section 35) determination and appraisal requirements
    • Valuation independence

Duration:                          3 hours

Level:                                   The seminar is at a basic/intermediate level.

Prerequisites:                  Basic understanding of lending.

Audience:             This program is intended for:

        • Financial institution compliance and risk executives and officers, as well as any member of the institution where knowledge or understanding of appraisals is important or helpful, including loan officers and loan processors.
        • Examiners and third-party consultants, auditors, and related companies.

Delivery Method:     On-Demand/Virtual

Materials:                   Manual and PowerPoint presentation

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