Appraisals are an intricate part of the real estate lending process whether consumer or commercial. Whether the transaction requires an appraiser or uses an evaluation, the bank must ensure that each is performed according to the requirements and protects the bank from losses resulting from incorrectly valued real estate collateral. This course provides bankers with a guide to the appraisal standards, as well as what is required of the bank’s appraisal and evaluation program. This course is intended for lending staff and those involved in the real estate loan process.
Learning Objectives:
- Summarize the basic requirements for the appraisal program
- Outline the difference between an appraisal and evaluation
- Recall the qualifications of an appraiser
- Understand the relationship to other Regulations
Course Outline:
- Background
- Appraisal Evaluation Program
- The Appraisal Process
- Appraiser Qualifications
- Transactions that Require Appraisals
- Evaluations
- Life of Appraisals and Evaluations
- Appraisals and Other Compliance Regulations
Rev–Oct. 2021. Course length ≈ 40 minutes.
This course is worth 0.5 CPE credit.
