USPAP Issues & Best Practices for Residential Appraisal Reviewers: Avoiding Violations

Duration: 90 Minutes
This webinar introduces the regulations governing the appraisal profession, Mortgage lenders and those reviewing residential appraisals for regulatory and GSE compliance are required to include in their reviews an opinion as to whether the report complies with USPAP. But how can a residential reviewer state whether an appraisal complies with the requirements of USPAP if he/she has never read USPAP or attended any education on that topic?
Residential Appraisal Reviewers
Instructor: Heidi Lee
Product ID: 508477
Objectives of the Presentation
  • Learn what group promulgates USPAP and sets qualifications for appraisers
  • Learn what agencies enforce USPAP
  • Get an overview of banking laws and regulations as they pertain to USPAP
  • Learn how USPAP requirements for appraisers differ from bank regulations and GSE appraisal and lending requirements
  • Learn how appraisal review differs from a check of underwriter guidelines
Why Should you Attend
The Interagency Appraisal and Evaluation Guidelines require appraisal reviewers to understand the methods applied by appraisers, but also to know when appraisal standards have been violated. In fact, Dodd-Frank imposes monetary penalties on banks that fail to comply with the appraisal requirements set forth therein. It is true that congress is talking about repeal or modification of Dodd-Frank, but until that happens, banks have exposure to regulatory penalties for non-compliance. Per Dodd-Frank, and its predecessor FIRREA, USPAP is the benchmark for measuring appraisal report acceptability. Familiarity with USPAP is a good way to avoid regulatory violations.

Areas Covered
  • The webinar includes a brief overview of the Interagency Appraisal and Evaluation Guidelines and its requirements for appraisal reviewers
  • It reveals how USPAP is organized and which sections are most relevant for residential reviewers
  • Included are key terms as they are specifically defined in USPAP and used by appraisers in their practice
  • Covers the Ethics Rule, Competency Rule, Scope of Work Rule, and Record Keeping Rule
  • Reveals how appraisal development differs from, but is related to, appraisal reporting
Who will Benefit
  • Mortgage Lending Group Managers and Appraisal Managers
  • Employees who review residential appraisal reports
  • Credit Administration Officers
  • Credit Officers involved in the appraisal function
  • Credit Reviewers and other credit side personnel
  • Mortgage lending underwriters
Topic Background
The Uniform Standards of Professional Appraisal Practice (USPAP) is the core document that the state appraiser licensing agencies require appraisers to conform with. The Interagency Appraisal and Evaluation Guidelines require a financial institution's review process to determine whether each appraisal ordered for real estate secured lending is in full compliance with USPAP. Federal law presently requires financial institutions to not only recognize when an appraisal report fails to comply with USPAP, but also mandates all non-USPAP compliant residential reports be turned into the relevant state Appraisers Board for oversight and potential disciplinary action against the appraiser. How can a bank or credit union comply with the regulatory and legal requirements if no one in the bank has ever received any education on USPAP? This webinar is the first step in such education.
$300
Recorded Session for one participant
Get life time access with download option!
Book this course
Pay Now
  $450.00 Training CD
Free shipment within 4 Working Days of placing the order. Get life time access for unlimited participants.
  $550.00 Training USB Flash Drive
Free shipment within 4 Working Days of placing the order. Get life time access for unlimited participants.
For multiple location please contact our customer care team +1-510-857-5896.
How it works
Live Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Heidi Lee is a commercial review appraiser with 18 years' experience at Whitney National Bank, a mid-sized financial institution. Since retiring from Whitney Bank in 2011, Ms. Lee has founded Appraisal Review & Consultation to share her skills and appraisal regulatory knowledge base with other financial institutions. Her firm offers commercial review services and appraisal policy/procedures assistance to small- and medium-sized banks across the country.

Ms. Lee has earned the MAI and the AI-GRS designations issued by the Appraisal Institute and the MRICS designation issued by the Royal Institution of Chartered Surveyors. She holds a general appraiser certification in Louisiana and Texas and was appointed by two governors to serve on the Louisiana Real Estate Appraisers Board. Additionally, she is a member of RMA (Risk Management Associates), with special interest in credit risk and operational risk.
View More