Appraisal Analyst III - Full-time / Part-time

The Appraisal Analyst (AA) 3 will be a contributing member of the Collateral Risk Management (CRM) Department and assist in managing the Bank’s real estate valuation function and risk exposure of residential real estate collateral. 

• Responsible for ensuring that the Bank receives regulatory-compliant appraisals and evaluations that are in compliance with corporate policy and standards, Uniform Standards of Professional Appraisal Practice (USPAP), secondary market guidelines as well as document the results. 
• Must be familiar with a variety of appraisal industry’s concepts and practices to include Fannie Mae/Freddie Mac UCDP UAD Errors, Fannie Mae CU and the bank’s policy and procedures. 
• Analyzes the reasonableness of the value reported on the appraisal and/or evaluation to accurately identify the collateral’s market value for financing purposes and ensures appropriate methodology is applied with the findings and review decision recorded on a worksheet. 
• AA is not responsible for reviewing loan program property eligibility guidelines, however, must communicate any unique features (i.e., acreage sites, log homes, recently transferred properties, refinance transactions recently listed for sale, etc.) about the property by e-mail to the Credit Underwriters for loan program consideration. 
• Updates the CMS Platform and/or RealEC with information that is used in various appraisal management and quality control reporting. 
• Adheres to bank policies and procedures and complies with Legal and regulatory requirements including appraisal industry’s concepts and practices. 
• Follows effective controls and processes to ensure risks are measured, monitored and controlled and compliance requirements are adhered to on an on-going basis. 
• Relies on experience and judgment in applying due diligence and accomplishes goals.
• Perform appraisal and evaluation reviews for conforming and non-conforming loan amount Conventional and Portfolio loans of owner-occupied (first and second liens) and tenant (investment) properties of single family homes, condominium units, properties located in PUDs , >10 acres, DU Red Flag, non-Residential Zoning and non-arms length transactions, multi-family dwellings, Construction to Permanent (CtP) transactions, Co-op units and appraisals with DataVerify alerts  with loan amounts ranging from $1 - $999,999 if AA 3 is a DE Underwriter  and $1 - $10,000,000 if AA3 is a Certified Appraiser and document the results in the CMS Platform and/or RealEC that evaluates and monitors the on-going performance of third-party professional vendors (AMCs). 
• Only AA3 Certified Appraisers may review appraisals for properties with loans amounts of $1,000,000 and higher.
• For loan amounts of $1,500,000 and higher, the Certified Appraiser must simultaneously review the 2 full appraisal reports required,  conduct reconciliation and determine which appraisal best supports market value and will be utilized in the lending decision.
• Communicate to Reviewer Lead when values lower that sales price for second tier review.
• Communicate to Reviewer Lead when appraisal methodology not appropriate or value does not appear to be supported for second tier review and possible deeming appraisal flawed resulting in referral to CIU team for investigation.
• When necessary, contact appraisal vendor by communicating through the above systems to address and resolve identified appraisal concerns of a material nature (those impacting value, marketability of property and salability of loan) to the reviewer’s satisfaction.    
• Comments will be placed on the worksheet for any Items of a non-material nature observed on the appraisal or evaluation. 
• It is critical reviews be thoroughly conducted to ensure risk mitigation while meeting established review SLAs. 
• If   AMCs do not provide responses to revision requests within designated SLAs, AAs will be responsible to follow up with AMCs. 
• Responsible for inputting comments in LOS system regarding material revisions requested or recaps of the approval information. 
• Responsible for sending e-mails to processor/LO to advise of revisions and final decisions on the appraisals.
• Perform other responsibilities as directed by Review Team Lead or other executive management.