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Best Practices in Bank Integrations – All Things Appraisal: Tips & Tricks August 6, 2014

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Best Practices in Bank Integrations – All Things Appraisal: Tips & Tricks August 6, 2014. What you are about to experience are the views of these three individuals…. Deloris L. Kraft-Longoria, MAI Chief Appraiser, Frost Bank (San Antonio, TX )

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best practices in bank integrations all things appraisal tips tricks august 6 2014
Best Practices in Bank Integrations – All Things Appraisal: Tips & TricksAugust 6, 2014
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Deloris L. Kraft-Longoria, MAI Chief Appraiser, Frost Bank (San Antonio, TX)

  • Eric K. Schwartz, MAI, SRA SVP, Chief Appraiser, Amegy Bank (Houston, TX)
  • Justin D. Slack, MAI, SRA, AI-GRS, AI-RRSVP,Commercial Appraisal Mgr, HomeStreet Bank (Seattle, WA)
slide5

Where do you Start?

Does size matter?

Policy(s) & Procedures

Personnel & Cultures

Vendor Lists

Systems

ready set wait for it go
Ready…..Set…..wait for it….Go!

Approved Appraiser List(s) Mgmt

Other 3rd-Party Vendor Mgmt

AMCs

Environmental Consultants

Building Inspectors/ Engineers

PP/ Equipment Appraisers

  • Appraisal Departments
  • Credit Administration
  • Business Units
pit falls1
Pit Falls…
  • Not being included in Due Diligence team
  • Not being a part of merger team and/or included in meetings prior to merger
  • Lack of list of appraisal assignments in the works
    • Who is the Client after LD-1?
    • Who is the Intended User after LD-1?
  • Appraisal Coordinator or Personnel left after merger
  • Acquired Bank had no Appraisal Division or Collateral Management System (CMS)
  • Lack of written policies to train acquired bank personnel
    • To use CMS system
    • When & how to order an Appraisal
more pit falls
…& More Pit Falls
  • Incorporating Ordered Appraisal Assignments into CMS
    • Setting up files, gathering all data
  • Payment of AMC/Appraiser of Appraisal Assignments in the works
    • Dual payment
  • Lack of market knowledge in new footprint
  • Lack of sufficient personnel to handle the “new normal” (workload)
  • Specialized Property Types
    • Mining operation
    • Agricultural properties
    • C-Stores
    • Country Clubs
policies procedures
Policies & Procedures
  • Who gets to stay?
    • Combined?
    • Are you really the devil?
  • Who is your regulator now?
    • Different wrinkles
    • Different cycles
    • Different expectations
personnel cultures1
…Personnel & Cultures

Bank A

Bank B

Appraisal Dept. Administrator(non-certified Manager)

Review Appraisers (3)

Environmental Consultant

Evaluator

  • Chief Appraiser (Certified Appraiser)
  • Review Appraisers (2)
  • Department Admin.
vendor management
Vendor Management
  • Approved Appraiser Lists
    • Update and Add New Appraisers to Lists due to new terror ties or markets
  • 3rd-Party Reviewers
    • Continue to use or eliminate
  • Environmental Consultants
    • Incorporate additional environmental contractors to list
vendor management1
Vendor Management
  • Building Inspectors/ Engineers
  • Order Management Systems
  • Appraisal Management Company(s)
    • Coordinate with AMC’s in regards to open assignments
      • Complete reviews, payment of the appraiser
  • Cloud Storage
appraisal management systems1
Appraisal Management Systems
  • RIMS
  • YouConnect (Real Wired)
  • Oasis (Global DMS)
  • Lender Portal (EDR)
  • FNC’s system
    • Commercial, Residential and Environmental CMS system
  • Others
appraisal management systems2
Appraisal Management Systems
  • Platform Integrations
    • Pre/Post – Identify challenges
      • Key points to consider:
        • Administrative and support personnel needs assessment
        • Budgetary constraints
        • Integrating systems with differing cost allocations
        • Line reporting conflicts
        • Cultural conflicts!!!!!
    • Understand the weaknesses and strengths of each AMS
    • SWOT Analysis: Do you need to perform one?
    • Single or multi-platform process management
      • Different systems for commercial and residential?
other issues
Other Issues
  • USPAP Issues
  • Who is the client and intended user if the acquired entity no longer exists?
  • Are there additional expense burdens associated with:
    • AMC Audits
    • Manpower allocations
    • Duplication of review and support staffing
  • Retain performing vendors
  • Annually evaluate vendors (establish protocols if absent)
  • In-service training – may be necessary at both institutions
  • Establishing performance expectations
  • Valuing designations (cultural issue)
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