What are the responsibilities and job description for the Appraisal Review Officer position at Commonwealth Business Services, Inc.?
POSITION OVERVIEW
The Appraisal Review Officer is responsible for ordering and reviewing commercial and residential real estate appraisals and evaluations and developing and maintaining corresponding procedures.
POSITION RESPONSIBILITIES
- Orders appraisals and evaluations of commercial and residential real estate for lending purposes
- Ensures that appraisal reports and evaluations are prepared within generally accepted appraisal requirements
- Performs technical and administrative reviews of commercial and residential real estate appraisals for compliance with regulations and the Bank's Loan Policy
- Responsible for developing and performing on-going maintenance of the Bank's appraisal policies, procedures, and standards
- Responsible for preparation, coordination, and follow-up of the regulatory examinations by federal and state regulators and the credit review by third-party auditors
- Acts as a liaison between lender and the assigned appraiser in all aspects of obtaining appraisal reports for loan origination or monitoring purposes
- Maintains up-to-date knowledge of real estate value trends and market trends to ensure valuations conform to current market conditions
- Responsible for training loan production staff and other related department staffs on the latest appraisal regulations and policies
- Develops and maintain internal forms used in appraisal related activities
- Maintains and performs quality control of the Bank's approved appraiser list
- Provides periodic reports to the CCO on the performance of the approved appraisers
- Responsible for collecting invoices and payments
- Responsible for Appraisal Review Log
- Responsible for maintenance of Collateral 360 (appraisal order system) or similar platform
- Performs duties specific to the position and other duties as assigned
- Complies fully with all Bank policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Anti-Money Laundering, Code of Conduct, and etc.) and complete all required training
SKILLS / QUALIFICATIONS
EDUCATION / EXPERIENCE