CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced that TCI and MBA Education, the training arm of the Mortgage Bankers Association, have joined forces to deliver a group of comprehensive courses specifically designed for lenders. The initial course will contain four parts and is designed to further the education of underwriters, processors, loan officers and any other recipient and user of appraisal products and services.
When it comes to signing off on an appraisal report by the underwriter, it’s not all about the opinion of value. Instead, underwriters use appraisals to determine overall risk exposure and risk appetite for a given property. Lenders know risk cannot be completely eliminated, but they need the ability to understand and measure the level of risk in a transaction. The overall goal then becomes a solid opinion of value based on property facts and competitive analysis. This webinar will illustrate how lenders may gain an understanding of the potential underwriting risk related to a transaction by carefully reviewing an appraisal report.
It is important to understand that the appraiser does not make underwriting decisions, only facilitates the decision by providing the necessary information for the lending institute to evaluate the loan. It is up to the underwriter to determine whether or not to proceed with the loan, decline the loan, or add other stipulations to the loan. The appraiser’s goal is to provide an opinion of value in addition to providing the necessary supporting information so that lenders can make those decisions quickly and accurately. By diving into a diverse set of influencers of valuation such as the various physical, market, governmental and social risk factors that can adversely impact collateral risk, we can learn some of the typical GSE property eligibility and appraisal requirements.
According to David Upbin, MBA’s vice president of Education Operations and Programming & MBA Strategy, “TCI is a nationwide provider of appraiser education and is an expert at delivering content for appraiser education needs. The MBA is the voice of the mortgage industry and provides a tremendous amount of quality content and education. There is a lot of potential in our working together to create content to enable our lenders’ valuation needs.”
The Managing Director of TCI, Laura Kelly, echoed these remarks and added, “The potential impact of these two industry powerhouses is meaningful. We look forward to our working with MBA Education and know it will be positive for the industry.
CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.
About The Columbia Institute
The Columbia Institute (TCI) launched in 1992 to serve the appraisal community with education that specifically contributes to the professional development and currency of the appraiser. Upon acquisition by CoreLogic in September 2016, TCI’s mission was expanded to incorporate delivering world-class education and training anytime, anywhere to power and advance the valuation industry.
Currently, there are twenty faculty members that have operated in more than thirty states. In addition to providing educational offerings, TCI has managed the development of state appraiser licensing and certification examinations, an annual educational event and most recently, hosts a leading appraiser trainee program to develop the next generation of valuation professionals.
CORELOGIC, The Columbia Institute and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.