Duration: 90 minutes, including question and answer period.
Presenter(s): Gary Deutsch, CPA, president, BRT Publications, LLC
Price: $299.00, On-Demand includes full audio presentation, question and answer session, and presentation slides.
Who Should Attend? Loan administrative personnel, appraisers, appraisal management personnel, risk managers, internal auditors, senior lenders, compliance officers, finance officers
When underwriting real estate loans, evaluations can be used instead of appraisals in certain circumstances. Evaluations can be less costly than appraisals and institutions can hire and train staff to carry out the evaluations. This could be especially helpful considering that shortages of qualified appraisers have been reported in many parts of the country.
However, there are reasons and circumstances for which evaluations may not be the best alternative to obtain a market value for real estate collateral. For instance, if you have an in-house licensed or certified appraiser, that professional may not be able to prepare an evaluation without violating appraisal guidelines in the USPAP. The same would hold true for independent licensed or certified appraisers. Although evaluations are not subject to USPAP, the banking regulations and guidance require an intensive development effort that is similar to USPAP, so you need to have a qualified person performing the assignment.
If your institution does not have routine access to well-trained appraisers who are not licensed or certified, then you may want to consider having licensed or certified appraisers conduct restricted appraisal report assignments instead of risking having an inexperienced person prepare an evaluation. Examiners have high expectations for the quality of all real estate appraisals and evaluations, so don’t risk a safety and soundness violation if a qualified person is not available to prepare an evaluation. Consider having an appraiser prepare a restricted appraisal report instead.
Please join Gary Deutsch as he discusses how using restricted appraisal reports can be an alternative to conducting evaluations.
WHAT YOU’LL LEARN
Some of the topics that will be discussed include:
- Understanding the difference between appraisals and evaluations
- Considerations in restricted appraisal development
- Understanding USPAP restricted appraisal reporting issues including report detail and special considerations
- Examples of restricted appraisal reports for residential and non-residential assignments
- Impact of the Interagency Advisory on the Availability of Appraisers
- AND MUCH MORE!
YOUR CONFERENCE LEADER
Your conference leader for "Using Restricted Appraisal Reports Instead of Evaluations” is Gary Deutsch, president, BRT Publications LLC. Mr. Deutsch is a licensed CPA in Maryland and has a B.A. in accounting and an MBA in finance from Loyola University Maryland. He has also achieved the Certified Management Accountant, Certified Internal Auditor and Certified Bank Auditor designations. Mr. Deutsch is the founder and president of BRT Publications LLC. Mr. Deutsch has trained thousands of financial institution professionals in all aspects of risk management and has written numerous books in the U.S. and Europe on topics such as credit risk, internal audit and compliance with Generally Accepted Accounting Principles. Mr. Deutsch has extensive risk management and internal audit experience through his association with financial institutions of all sizes as well as through his role leading the KPMG financial institution consulting practice in the Mid-Atlantic region.
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