The Review Appraiser will responsible for conducting retrospective valuation reviews of appraisal reports used by sellers and servicers to support lending decisions and determine if they meet FNMA, FMAC, USPAP and other professional appraisal standards.
Review Appraiser performance profile:
- Perform highly in-depth desk review of appraisals.
- Maintain review productivity in line with the department's benchmarks.
- Manage and prioritize caseload of pending and active appraisal reviews.
- Conduct research and analysis on collateral utilizing appraisal expertise, internal and external property valuation tools and other resources.
- Determine appropriate actions to take in accordance with department and company policies.
- Document conclusions in the Quality Assurance System (QAS) with an accurate assessment of the valuation review.
- Compose letters to communicate inadequacies to the lender that were identified through the review process.
- Respond to valuation questions and disseminate valuation guidelines and requirements to internal and external customers.
- Maintain thorough and up-to-date knowledge of all guidelines, products and systems that are pertinent to the loan review process.
A well-qualified candidate will possess the following:
- A minimum of seven to ten years of experience with appraisal, appraisal review or valuation of single family, 2-4 family, condominium, cooperative, land trust, leasehold and factory-built properties.
- A State Appraiser Certification (not License).
- Demonstrated ability to calculate loan-to-value ratios, utilize market extraction and derive gross rent multipliers.
- A Working knowledge of FNMA, FMAC and USPAP valuation guidelines; AVM, APS and other valuation tools; general knowledge of the Selling and Servicing guides; DU, LP and the underwriting process.
- Demonstrated organizational, analytical and research skills as well as the ability to conceptualize issues and develop complex processes, procedures and solutions.
- The ability to support department objectives with minimal supervision.
- Excellent communication skills both written and verbal and familiarity with Microsoft Office Suite (i.e. Word, Excel).
- National review experience.
- Secondary mortgage market experience.