Review appraisals ensuring compliance with regulatory, agency, investor and company guidelines. Implement processes that provide assurance that loan approvals are supported by qualified collateral being taken on secured loans. Such processes will include evaluation of valuation provider, review of valuation reports, monitoring, loan production methodologies and resolving issues surrounding valuation differences.
Position Responsibilities: Work with Risk Management in the development of policy and process for approving vendors for valuation services-Such services and needs will encompass a general presence with a plan executed from a central location Provide ongoing collateral valuation review support for lending activities Work with Risk Management in the development, implementation and administration of appraisal guidelines, policies and procedures for residential appraisals Maintain contact with various departments, appraisers and third party loan originators to resolve problems relative to appraisals Provide written analysis of value discrepancies between original appraisal and subsequent valuations Review appraisals to ensure that the methodology, market data and analysis are reasonable and that the report conforms to USPAP, Agency, Investor and Company standards Review and analyze formal reports and supporting documentation prepared by external appraisers on 1-4 family residential properties Apply uniform standards of professional appraisal practices with regard to objectivity, integrity, independent judgment, confidentiality and ethical conduct Identify and assess any suspected misrepresentation or fraud in property valuation Monitor the quality of outside vendors utilized in the collateral valuation process, including criteria such as license continuation, regulatory needs, etc. This includes USPAP appraisers or other automated valuation providers Respond to monitoring activities by managing the approved vendor lists including termination or other activities relating to such vendors Development of policies relating to the administration of collateral valuation processes Work with Risk Management to establish and refine consumer guidelines that support corporate credit policies while maximizing revenue Provide training and ensure communication and information needs of all Underwriters and Sales personnel-This will include notification of approved/terminated vendors and new or existing policy/guideline changes
Development and maintenance of an approved vendor list for use by sales and underwriting in their communication with brokers Maintain a vendor watch list process for monitoring the performance of those vendors who may have caused concern through their practices Manage process for identifying vendor needs within new or expanding markets Support overall risk management goals through participation in discussions with team members, sharing of current issues and projects and the receipt and providing of cross training Work with Risk Management to defend and rebut any appraisal/collateral concerns, claims or deficiencies made by any third party investor, agency, insurer or auditor which may arise before, during or after loan purchase, endorsement or guaranty. Other duties as requested by management
Requirements: High school diploma; college degree preferred Certified appraisers license required Minimum 5 years residential appraisal experience required Minimum 3 years FHA residential appraisal experience required Minimum 2 years of appraisal review experience Demonstrated ability to problem-solve difficult appraisals Strong analytical, written, and verbal communication skills Ability to independently conduct market analysis Computer literate
Warm Regards, Andrea Clarkson Professional Recruiter