Appraisal Reviewer
An Appraisal Reviewer is responsible for evaluating and analyzing appraisal reports to ensure their compliance with regulations and accuracy in valuing properties.
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Sample Job Descriptions for Appraisal Reviewer
Below are the some sample job descriptions for the different experience levels, where you can find the summary of the role, required skills, qualifications, and responsibilities.
Junior (0-2 years of experience)
Summary of the Role
An Appraisal Reviewer is responsible for critically evaluating and verifying the value and condition of properties as determined by appraisers. The role involves ensuring adherence to appraisal standards, providing feedback for quality improvement, and verifying the accuracy of appraisal reports.
Required Skills
- Critical thinking and analytical skills.
- Detail-oriented with high accuracy in work.
- Ability to interpret and apply regulatory guidelines.
- Strong organizational and time-management skills.
- Effective communication and interpersonal skills.
- Basic knowledge of real estate markets and property valuation.
Qualifications
- Bachelor's degree in Finance, Real Estate, or a related field.
- Understanding of USPAP (Uniform Standards of Professional Appraisal Practice) guidelines.
- Excellent analytical and problem-solving skills.
- Attention to detail and ability to work under strict deadlines.
- Strong written and verbal communication skills.
- Proficiency with Microsoft Office Suite and appraisal software.
Responsibilities
- Review and audit appraisal reports for accuracy and compliance with regulations.
- Ensure that appraisal methods are appropriate and consistent with industry standards.
- Collaborate with appraisers to address any discrepancies or areas in need of improvement.
- Maintain current knowledge of the real estate market and valuation trends.
- Research and analyze property information using various public and private databases.
- Validate property values using a variety of tools and methodologies.
- Assist senior appraisal reviewers in the preparation of complex review assignments.
Intermediate (2-5 years of experience)
Summary of the Role
An Appraisal Reviewer is responsible for critically evaluating appraisal reports to ensure their accuracy and compliance with regulations and company standards. They work closely with appraisers, providing guidance and feedback to enhance the quality of appraisal services.
Required Skills
- Analytical thinking
- Time management
- Detail-oriented
- Understanding of regulatory compliance
- Proficiency in appraisal software
- Strong interpersonal skills
- Effective communication
Qualifications
- Bachelor's degree in Real Estate, Finance, or a related field.
- 2-5 years of experience in appraisal or a related industry.
- Certification or licensing as a real estate appraiser is preferred.
- Proficient in appraisal software and Microsoft Office Suite.
- Strong analytical skills and attention to detail.
- Excellent communication skills, both written and verbal.
Responsibilities
- Review appraisal reports for accuracy and integrity.
- Ensure compliance with company policies and industry regulations.
- Communicate effectively with appraisers to provide feedback and clarification.
- Maintain up-to-date knowledge of the real estate market and valuation techniques.
- Identify and resolve inconsistencies within appraisal reports.
- Provide training and support to new appraisers as needed.
- Collaborate with other departments to facilitate the appraisal process.
- Manage a portfolio of appraisal orders and prioritize workloads to meet deadlines.
Senior (5+ years of experience)
Summary of the Role
A Senior Appraisal Reviewer is responsible for critically assessing and validating appraisal reports to ensure they comply with federal regulations and meet industry standards. They work closely with appraisers, loan officers, and underwriting staff, providing expert guidance and ensuring the accuracy and soundness of property valuations.
Required Skills
- Excellent analytical and critical thinking skills.
- Strong attention to detail and accuracy.
- Proficient in appraisal software and platforms.
- Effective communication and interpersonal skills.
- Ability to manage multiple priorities and meet deadlines.
- Strong problem-solving capabilities.
Qualifications
- Bachelor's degree in Real Estate, Finance, Economics or a related field.
- Certified Residential or Certified General Appraiser license.
- Minimum of 5 years of experience in real estate appraisal or appraisal review.
- Thorough understanding of the Uniform Standards of Professional Appraisal Practice (USPAP).
- Experience working with various property types, including residential, commercial, and special purpose properties.
- Proven ability to analyze complex appraisal reports and offer constructive feedback.
Responsibilities
- Perform detailed reviews of residential and commercial appraisal reports to ensure compliance with USPAP and other regulatory guidelines.
- Analyze appraisal methods and techniques for validity, relevance, and appropriateness of the conclusion.
- Provide feedback and recommendations to appraisers to enhance the quality and accuracy of their work.
- Collaborate with underwriting and loan production teams to support valuation decisions and resolve valuation-related issues.
- Keep up-to-date with the changing federal and state regulations affecting real estate appraisal.
- Participate in the development and implementation of appraisal policies and procedures.
- Mentor and train junior appraisal staff in review techniques and industry best practices.
- Resolve escalated appraisal disputes and provide authoritative guidance in complex valuation matters.
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