As a professional involved in the banking industry, you must have a thorough understanding of how real estate appraisals are structured and how to interpret them to make well-informed lending decisions. This seminar will use dynamic presentations and practical, real-world examples to provide you with the knowledge and skills you need to make the most effective use of real estate appraisals when involved in the lending and credit decision-making process. Discussions will focus on both the residential and commercial markets. Much of this seminar will be oriented toward familiarizing the attendees with the Uniform Standards of Professional Appraisal Practice and how it impacts the appraiser.
8:30 a.m. - 9:15 a.m.
I. Overview: 'What IS This Thing Called USPAP'?
9:15 a.m. - 9:45 a.m.
II. Why USPAP... What The Lender SHOULD Know
A. Ethics And Competency Rules, And How That Impacts The Lender
9:45 a.m. - 10:20 a.m.
III. What We REALLY Need From The Lenders
10:20 a.m. - 10:30 a.m.
10:30 a.m. - 11:05 a.m.
IV. Supplemental Standards Rule... Fannie, Freddie And FHA
11:05 a.m. - 11:40 a.m.
V. Recerts, Updates And The 2070/2075 Products
A. How Hypothetical Conditions And Extraordinary Assumptions Impact An Appraisal
11:40 a.m. - 12:40 p.m.
Lunch (On Your Own)
12:40 p.m. - 1:15 p.m.
VI. Unacceptable Assignment Conditions (AO19)
1:15 p.m. - 1:50 p.m.
VII. 'Messing With Underwriters' And 'What About Those Pesky Originators?'
1:50 p.m. - 2:25 p.m.
VIII. Marketing Time vs. Exposure Time: Does Anybody Even Care?
2:25 p.m. - 2:35 p.m.
2:35 p.m. - 3:10 p.m.
IX. The 1004 (URAR), 2055 And 2065 Forms... What ARE They, And What Do They
Tell The Lender?
3:10 p.m. - 3:40 p.m.
X. The Collateral Evaluation Form
3:40 p.m. - 4:15 p.m.
XI. The WV Real Estate Appraiser's Licensing And Certification Board
A. Duties And Responsibilities
B. What Licensing And Certification Means
C. Filing Complaints
4:15 p.m. - 4:30 p.m.
XII. Discussion, Summary And Wrap-Up