2009 Course Catalogue - ffiec

Real Estate Appraisal Review School
Summary
The Real Estate Appraisal Review School
provides examiners with the knowledge and
skills required to review a commercial real estate
appraisal and to determine compliance with
agency appraisal regulations and the standards in
the Uniform Standards of Professional Appraisal
Practice (USPAP). Through case studies and
exercises, examiners will evaluate real estate
appraisal as a key component in the credit risk
assessment process for commercial real estate
loans. Examiners will learn how to identify the
mistakes that appraisers most commonly make
and to identify potential appraisal fraud.
Objectives
At the completion of the course, participants will
be able to:
• Identify the USPAP content that applies
during an appraisal review
• Identify and understand the agency
regulations and guidelines that govern
appraisals
• Identify the physical and economic
relevant property characteristics that affect
the real estate collateral
• Use deductive reasoning to identify
inappropriate appraisal procedures
• Use deductive reasoning to validate the
consistency of information in an appraisal
report
• Describe various types of appraisals and
appraisal reports
• Explain the appraisal valuation process
• Describe the three approaches to value
• Identify common appraisal errors
• Identify potential fraud in appraisals
• Calculate estimated values based on
revised appraisal assumptions
• Recognize and identify the strengths and
weaknesses of emerging automated
valuation tools
Copyright © 1994-2006 CALMO Realty Services, Inc.
Target Audience
The course is designed for examiners who need
enhanced skills in reviewing and analyzing
commercial real estate appraisals. Attendees
should have experience evaluating commercial
real estate loans and income-producing real
estate lending.
Length
The course is 4½ days, beginning at 9:00 a.m.
on Monday and ending at 12:00 noon on Friday.
The normal class day is 8 hours.
Pre-Course Study
This course requires attendees to complete
several paper-based self-study modules and
complete and submit to the FFIEC a pre-course
assessment before attending the classroom
session. Each participant’s training department
will hard mail the pre-course materials
approximately 10 weeks prior to the session.
The modules and the assessment will require
approximately 40 hours to complete, and they
provide the foundation of the appraisal
preparation theory and process. This volume of
pre-course material allows for the most efficient
use of the in-class workshop time where the
focus will be on the appraisal review process
and case studies.
At an additional cost, the self-study material can
be completed using an on-line format that requires
approximately 8 hours per week for 5 weeks.
Participants should apply to their training offices for
approval to take the on-line course.
Requirements
Attendees must bring a calculator that
performs present value and future value
calculations and a laptop computer with a CD
drive to class.
FFIEC Course Catalogue • 2009 • Examiner Programs 23