Welcome to the Compliance Cohort. We are a group of compliance professionals working to make compliance easier. Our goal is to take complex compliance concepts and put them in simple terms that apply to the real world. We are glad you have found us and look forward to collaborating in the future.
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If you haven’t noticed, appraisal bias has become one of the hottest topics in fair lending today. When an appraiser includes bias in their valuation report, financial institutions must be prepared to identify the bias and take appropriate action. Fortunately, the regulators have given us a bit of guidance on what not to do as it relates to fair lending, but its still a bit challenging for financial institutions to keep up with all of the rules and regulations relating to appraisals.
The truth is that appraisal rules have grown increasingly complex over the last two decades. With changes to FIRREA, Regulation B, Regulation Z, interagency guidance, and even a new focus on fair lending (i.e. appraisal bias), it is now more important than ever that financial institutions fully understand the compliance requirements for appraisals and evaluations in their organizations.
Our Appraisal Compliance Requirements class is designed to cover the key compliance elements related to appraisals and evaluations - including a full section on appraisal bias. This program starts with a brief introduction and then moves into a quick review of the appraisal requirements found in Regulation B & Regulation Z (providing a general overview of the Reg Z requirements). After this, our second main part of the program reviews a few key elements of the interagency guidance on appraisal standards, by focusing on the elements that typically apply to compliance professionals. This portion of the program also reviews the dollar thresholds under FIRREA that dictate when an appraisal is required, and when an alternative valuation can be used in lieu of an appraisal. Finally, the last section of the program includes a brief discussion on fair lending and review of they key things stated by the regulators on appraisal bias. This section concludes with a list of best practices financial institutions can take to mitigate fair lending risk as it relates to appraisals and evaluations.
This program would be good for lenders, compliance officers, managers, underwriters, loan processors and assistants, compliance analysts, appraisal reviewers, those who order appraisals, auditors, and anyone else who works with appraisals in a financial institution.
2.5 CRCM, CERP credits. ABA Professional Certifications is dedicated to promoting the highest standards of performance and ethics within the financial services industry. The Appraisal Compliance Requirements program has been approved for 2.5 CRCM, CERP credits. This statement is not an endorsement of this program or its sponsor. Certification holders must report these credits at aba.csod.com.
Regular: $349
ADD ON: “+ Unlimited” - Add a private portal for anyone in your organization to view this program for an additional $199. Access is still available for 60 days, so those in your organization must view the program during your 60 day access window. Limit of 5 total Certificates of Attendance, though anyone in your organization can view the program through the portal we set up. You will be contacted with information on the private portal sometime after purchase.
PREVIEW THE CLASS BEFORE YOU BUY? If you would like to demo this class before you purchase it to make sure it's what you are looking for, just let us know and we can work something out.
The class is presented in multiple videos and will provide you with a refresher on appraisal requirements. The total time of video instruction in this program is 2 hours and 17 minutes.
See below for the tentative curriculum:
Introduction
Applicable Regulations
Regulation B
Regulation Z (TRID elements and then only a general overview of HPML requirements)
Interagency Appraisal and Evaluation Guidelines
Select elements that typically apply to compliance professionals
FIRREA thresholds
Appraisal Bias
Recent Regulatory Activity and Enforcement Actions
Risk Mitigating Best Practices to Avoid Appraisal Bias
This Compliance Class provides you with a deep dive into the requirements for financial institutions.
The class includes the following:
A comprehensive manual
A “virtual classroom” instructional video
60-day access to the class
Certificate of completion (1 per registration - available upon request)
All of our Compliance Classes are presented in our virtual classroom approach. This approach is designed to bring the presenter to you (at a fraction of the cost of having a live person) and includes a video of the presenter in front of a slide presentation that replicates a typical seminar environment. In addition, our presenters take a three-part approach to compliance instruction: to educate, to empower, and to entertain. This is achieved by focusing on relevant topics, speaking in simple to understand, layman's terms, and by keeping it light and humorous whenever possible. We have found that this "3-E" approach allow students to learn as quickly and effectively as possible. And, it adds a little bit of fun to an otherwise dreadful topic.
Certificates of completion are now available upon request. One certificate is available per registration.
When you purchase this compliance class, you get instant access to the online version of this class for 60 days. You will also receive an electronic version of the accompanying manual to keep.
We believe in our training products so much that we are offering a 100% money back guarantee within the first 10 business days after purchase. If you do not feel that you received the value promised for this training session, contact us within the first 10 business days after purchase and we will either make things right or provide 100% of the purchase price back to you.
