Review Appraiser Sr

Flagstar Bank•Hicksville, NY

2d•Onsite

About The Position

Assist the Chief Appraiser with Department functions as needed/directed, including but not limited to: maintaining compliant, prudent and appropriate valuation practices for real estate related transactions originated and serviced by commercial lending channels, ensuring real estate valuation reports are compliant, credible and acceptable for bank use, maintaining appraisal independence, procuring valuations from qualified third-party vendors, and operating in compliance with all Federal Regulations, USPAP, and state licensing laws.

Requirements

High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent
8+ Years in appraisal, with a focus on writing/reviewing complex reports.
State Certified General Real Estate Appraiser License.
Demonstrated ability to read and comprehend complex commercial appraisal reports.
Demonstrated ability to provide clear and concise communication and reports.

Nice To Haves

Bachelor’s degree in related field
Bachelor’s Degree in Business, Finance or Real Estate.
Proficiency in ARGUS.
Intermediate knowledge of Microsoft Word and Microsoft Excel.
General working knowledge and understanding of bank activities, regulatory compliance, bank operations, and bank functions.

Responsibilities

Reviews complex real estate valuation reports on properties pledged as collateral securing Commercial related loan transactions, to ensure valuations are in compliance with Federal Regulations (Interagency Appraisal & Evaluation Guidelines & FIRREA), USPAP, Flagstar Bank’s Appraisal requirements, Flagstar Bank's Appraisal Policy & Appraisal Procedures.
Ensures the work under review is reasonable, adequately supported and appropriate for bank loan decision-making purposes and to protect the Bank from increased risk of loss, delinquencies and regulatory scrutiny, as the valuation of the real estate collateral is an essential component to the safety and soundness of Flagstar Bank loan transactions.
Provides written appraisal and evaluation review reports and validations of value reports on complex valuation reports.
Communicates the acceptance, rejection or modification of all valuation work under review.
Procures the appropriate valuation reports (appraisals and evaluations) for complex commercial related loan transactions from qualified valuations vendors on Flagstar Bank's approved vendor list.
Contractually engages vendors with the appropriate scope of work and type of report to ensure credible assignment results, while maintaining appraisal independence.
Interacts with appraisal and evaluation vendors, and Flagstar Bank Associates to facilitate the flow of required information and completion of valuation products in a timely manner, while maintaining appraiser independence and a high degree of internal and external customer service.
Performs special projects, and additional duties and responsibilities as required.
Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.
Accountable to maintain compliance with applicable federal, state and local laws and regulations.