What are the responsibilities and job description for the Residential Appraisal Specialist position at Maine Community Bank?
Department: Credit
Reports to: Senior Credit Risk Officer
FSLA: Exempt
Last Modified: 1.24.25
Job Summary:
The Residential Appraisal Specialist is the liaison between the bank’s pool of appraisers and the lending staff. By reviewing residential and commercial property appraisal and evaluations for validity and accuracy, this individual will ensure independence in the process is maintained in accordance with regulatory requirements.
Essential Functions:
- Performs reviews of real property appraisal and evaluations for validity and accuracy.
- Reviews appraisal and AVM reports and documentation to ensure compliance with industry standards, bank policies and regulatory requirements.
- Analyzes the reasonableness of the appraisals and evaluations to confirm reported value is supported for financing purposes while evaluating report completion methodology.
- Ensures the Collateral is eligible according to bank and investor guidelines.
- Communicates with appraisers for any report corrections/and or revisions.
- Evaluates appraiser quality of work and provide feedback for maintenance on the Bank’s approved appraiser list.
- Serves as the Appraiser Vendor Manager for maintaining current licenses, insurance binders and annual updates to fees, staff changes and/or coverage areas.
- Serves as a liaison between appraiser and lending staff to ensure that independence in the process is maintained in accordance with regulatory requirements.
- Assists with training of Bank associates regarding appraisal regulations, rules and policy.
- Provides Management with recommendations to Appraisal Policy changes with regards to residential appraisals.
- Performs other duties as assigned.
Education, Skills, and Experience Required:
- Bachelor’s Degree in a business related program and a minimum of 3 years of experience in a financial institution in a lending department; or equivalent combination of education and experience.
- Through understanding of the lending function as well as the ability to review and assess complex appraisal documents.
- Must have strong analytical and problem-solving skills; sound judgement, and math ability as well as accuracy and the ability to pay close attention to detail.
- Experience with windows-based software and ability to learn industry specific software.
- Excellent verbal and written communication skills.
Physical Requirements and Working Conditions:
- Must be able to spend extended periods of time operating a computer keyboard and working at a computer monitor.
- Handling of light materials and supplies.
- Workspaces are generally comfortable and pleasant.
