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The Interagency Appraisal and Evaluation Guidelines of December 2010 clearly outline use of evaluations for both new and subsequent transactions. Financial institutions, however, still struggle with evaluation content and developing a reasonable approach to validate existing valuations. Although it might be cost-effective to use a recent evaluation or validate an existing appraisal, you cannot risk having an inaccurate market value conclusion.
This informative presentation on Tuesday, March 27, from 3:00 p.m. to 4:30 p.m., will provide the tools and information to properly complete an internally prepared evaluation. It will provide insight on using previously prepared appraisals or evaluations for subsequent transactions and explain when a new appraisal should be ordered.
For those participating in this webinar, you can expect to learn about:
- Evaluation content and supporting information
- Three approaches to value: comparative, income, and cost
- Use of tax assessment value and automated valuation models
- Is a broker’s price opinion ever appropriate?
- Appraisal exemptions
- Documenting and determining validity of previously developed appraisals or evaluations
- What is a subsequent transaction and when should a new appraisal be ordered?
- Independence standards: should different people order, develop, and review evaluations or validations?
After participating in this webinar, attendees will receive: A sample validation worksheet; employee training log; and a quiz you can administer to measure staff learning and a separate answer key.
This webinar is offered through the League's partnership with the CU Webinar Network. For more information or to register, please click here.