Appraisal Management Coordinator

Penn Community Bank; Perkasie (Bucks County); Hybrid; USD 70,000 - 90,000; Full time

Job summary

Penn community Bank is seeking an Appraisal Operations Specialist to act as liaison between the Appraisal Management Company and commercial and retail lending staff. You will provide support, guidance, and ensure appraisal processes meet USPAP, FIRREA, and bank requirements.

Responsibilities include determining scope, tracking appraisals, ordering and delivering appraisals for Loss Mitigation and loan operations, handling Revision of Value requests, and supplying data to analysts.

Qualifications

• Minimum three years' experience in retail and commercial appraisal review; ability to critique appraisals for adequate support.
• Working knowledge of Encompass and OnBase is preferred.

Responsibilities

• Act as a liaison between the Appraisal Management Company (AMC) and the commercial and retail lending staff; provide support and guidance for appraisal management.
• Appraisal review: summary or full review of compliance with USPAP, FIRREA, and bank requirements.
• Determine scope of appraisal requests; inquire and obtain necessary collateral information to submit to vendor.
• Track active appraisals and reviews to meet lending deadlines via the AMC portal; relay information to loan officers.
• Order and deliver needed appraisals for Loss Mitigation Team and loan operations.
• Serve as a conduit for Revision of Value (ROV) requests with adequate information to support the request.
• Provide research and data to credit analysts for underwriting and collateral support; includes comps and MLS data.
• Collect data from appraisals, input into bank database, and compile statistical reports as required.
• Make recommendations on appraisers for the preferred list based on performance; suggest removals if needed.
• Assist vendor due diligence for AMC; conduct vendor reviews and onboarding of new vendors.
• Participate in internal/external quality control and audit assessments; ensure compliance with AVMs QC standards.
• Process appraisal fees and invoices; maintain department policies and procedures.
• Perform related duties as assigned.

Skills

Appraisal review experience

Lending terminology

Banking regulations knowledge

USPAP knowledge

FIRREA knowledge

Customer service

Multi-tasking

Communication skills

Problem-solving

Education

High School diploma or equivalent

Bachelor's degree in business or related field (preferred)

Tools

Encompass

OnBase

Job description

Job description

• Act as a liaison between the Appraisal Management Company (AMC) the commercial and retail lending staff. Provide support and guidance to support the team as it pertains to the Appraisal Management function
• Appraisal Review. This involves either a summary review, or a full review of appraisal compliance when needed with regards to USPAP, FIRREA, and bank requirements.
• Determine scope of the appraisal or evaluation requests, make inquiries, and obtain information about the collateral property necessary to submit request to vendor.
• Track active appraisals and reviews to ensure lending deadlines are met using the AMC portal. Relay pertinent information and/or delays to loan officers as needed.
• Order and deliver needed appraisals for Loss Mitigation Team and loan operations.
• Serve as a conduit for all Revision of Value (ROV) requests. Ensure that adequate information is provided to support the request.
• Provides research and data to credit analysts to assist in the underwriting and support of lending decisions with regard to collateral properties. (includes industry related statistical information, comparable sales, and comparable rents, and MLS listing descriptions etc.)
• Collect data from each appraisal and inputs into banks appraisal database, Compiles data and prepares statistical reports as required.
• Make recommendations in accordance with the bank's Lending Policy for adding new appraisers to the preferred list, or make recommendations to remove based on the performance of appraisers
• Assist Management with the vendor due diligence process as it pertains to the AMC. This would include the required vendor reviews of existing vendors and or the onboarding of potential new vendors
• Participate in internal and external quality control and audit assessments.
• Ensure that the Bank is within compliance with Quality Control Standards for AVMs
• Process Appraisal Fees and Invoices
• Maintaining department policies and procedures
• Perform related duties as assigned.

Compliance

• Comply with all applicable regulations and Bank policies regarding employment and employment law.
• Participate in annual compliance and other job-related training.
• Comply with applicable bank regulations, Bank policies and procedures.
• Comply with Bank's internal privacy and ethics standards.

Relationships and Contacts

Internal: Reports to the Director of Loan Operations; Frequent contact with Loan Origination Teams, including regular contact with Commercial Lending, Residential Lending, Credit Administration, and Loss Mitigation. Occasional contact with Senior Management

External: Frequent communication with Appraisal Management Vendor including external board-approved Appraisers; occasional interaction with appraiser and external customers.

Education and Experience

• High School diploma or equivalent required; Bachelor's degree in business or related field preferred
• Minimum three years' experience in retail and commercial appraisal review; demonstrated ability to critique appraisals to ensure adequate support for final market value conclusion(s)
• Working knowledge of Encompass and OnBase preferred

Skills and Competencies

• Strong comprehensive knowledge of lending terminology-retail and commercial
• Knowledge of banking regulations, USPAP, FIRREA, and Fair Lending as they relate to real estate appraisals.
• Excellent computer skills; proficiency in Microsoft Outlook, Work and Excel
• Excellent customer service skills; Ability to multi-task and remain organized
• Ability to communicate and interact well with Team Members, and vendors.
• Strong problem-solving skills and the ability to make sound decisions in compliance with established policies and procedures

Working Conditions

Traditional office environment with ability to work remotely on a hybrid basis; the office maintains five day a week operations (Monday - Friday) with operational hours of 8:00am - 5:00pm.

Penn community Bank is an equal opportunity employer.