Gordy Welch from Lighthouse Real Estate Services shares his perspective on real estate evaluations.

In their April 2018 updated guidance the (The agencies)  “encourage financial institutions to make use of the following exceptions” related to (the use of) Evaluations and Validations. **

Transactions That Require Evaluations:  December 2010 and April 2018 Interagency FDIC appraisal guidelines permit an institution to obtain an appropriate evaluation of real property collateral in lieu of an appraisal for transactions that qualify for certain exemptions.

• Has a transaction value equal to or less than the appraisal threshold of $500,000.**
• Is a business loan with a transaction value equal to or less than the business loan threshold of $1 million, and is not dependent on the sale of, or rental income derived from, real estate as the primary source of repayment.*

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I am always amazed at the number of detailed statistics sports broadcasters report regarding a specific player or team.   It is almost unimaginable the amount of record keeping that takes place in sports today.  It is also amazing how much this data is mined to find relevant information to provide an advantage to a team or a player.   For example,  “Stat to know: The Packers’ Rodgers and Adams connected on 76.7% of their attempts this season, the second-highest rate among the 60 QB-WR duos with 150 attempts in the past 20 seasons.” per NFL Next Gen Stats^[1].

[1] NFL playoffs: Packers-Rams matchup features clash of No. 1 offense, defense – Green Bay Packers Blog- ESPN

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COVID-19 continues to evolve with unimaginable ramifications to individuals and businesses around the world.  The outbreak has caused increasing global business and economic disruptions.  The spread of this disease and its resulting economic impact is unprecedented.

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This blog was initially posted in January 2019. Presently the corona virus is creating the need to minimize unnecessary contact and create appropriate social distance. Financial institutions have begun to implement reduced branch access and other measures to limit personal physical contact. Unfortunately, we are also beginning to experience the economic impact of the virus as many businesses are no longer able to provide the product or service in their traditional way. Financial institutions will need to continue third-party provided audit services. We believe loan review is a service that can be remotely delivered and provided for continued portfolio risk management. Integrity Loan Review is ready to assist you with a remote loan review for your organization.

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