Emerging Risk: Heading off Regulatory Scrutiny on Residential Appraisals

Presented by

Jack Huntress, EDR, Liz Green, REL-E-VANT SOLUTIONS, Larry Schnapf, Schnapf LLC

About this talk

For lenders operating in the shadow of the Dodd-Frank Act, CFPB and other regulatory enforcement agencies are focusing their efforts on consumer protection, disclosure and transparency and deem these critical to all areas of an institution’s compliance and operation. A dizzying array of new rules and regulations, often disruptive to existing operations, are raining down upon the mortgage lending industry. Now, however, it’s not enough to simply be aware of emerging rules and regulations. Little known requirements and regulations which have been on the books for years without being enforced are now getting renewed attention from those agencies, likely opening up an entirely new front in the uphill battle to stay compliant. One of the greatest potential risks to lenders arises from requirements for residential property appraisals and evaluations. It is likely we will see stricter environmental underwriting and more regulatory scrutiny on lenders’ risk management policies. Discover now where lenders are most at risk, and learn about cost-effective measures that can be taken to stay out of the regulatory crosshairs. The presenters will: • Identify existing rules and regulations, little-known and long unenforced, that are likely to be revitalized by regulatory enforcers; • Spell out the specific risks that residential property contamination, including vapor mitigation, will pose to a mortgage lender; • Explain how the gamut of new and existing requirements will impact traditional due diligence requirements; and • Predict the possible financial impact upon lenders, as well as offering potential solutions for risk mitigation.

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