First-of-its-kind Risk Education Series for Mortgage Industry Forthcoming from Maryland Smith
Impetus Dates Back to Deficiencies Exposed in 2008 Financial Crisis
COLLEGE PARK, Md., Aug. 31, 2020 /PRNewswire/ -- Residential collateral risk professionals can expand their knowledge base and build risk management skills through a forthcoming education series jointly presented by the Robert H. Smith School of Business at the University of Maryland and the Collateral Risk Network (CRN).
The four-part Collateral Risk Education series will run online 7-9 p.m. Mondays and Wednesdays, Sept. 14, 16, 21 and 23.
"What makes this new collateral risk training so special is that until this training came along there was nowhere for industry professionals to go to learn how to manage collateral valuation risk in the mortgage industry," says Clifford Rossi, professor of the practice and executive-in-residence at Maryland Smith. "Understanding the intersections of mortgage collateral valuation and risk management is particularly critical at this time when markets are supply constrained and getting the appraisal right is essential."
Rossi, the academic director and faculty for the series, says the 2008 financial crisis exposed many deficiencies in the way mortgage lenders valued residential properties.
"In many instances, significant conflicts of interest arose where loan production units pressured appraisers to come up with property values that would ensure loans would be made," says Rossi. "These and other problems underscored the importance of managing risk associated with the property valuation process."
The sessions collectively are designed to deliver the tools and training to excel in collateral valuation, analysis and risk management practices essential to ensuring the integrity of the appraisal management processes and controls associated in the mortgage industry.
"This groundbreaking, interactive series will be delivered over eight hours of virtual, live facilitation in an intimate, cohort environment," says CRN Founder and CEO Joan Trice.
The series, per session, will cover:
- Fundamentals to Collateral Risk Management
- Residential Property Valuation Risk Management
- Collateral Analytics and Data
- Collateral-related Risk Management Practices
"These courses are advanced courses for those professionals who are interested in expanding their knowledge and advancing their careers," said Rossi in a recent preview of the series at Appraisal Buzz.
The series is open to CRN members and non-CRN members. Completion incorporates a digital badge and can be applied to the Collateral Risk Academy, a forthcoming extension of the series.
Go to the Collateral Risk Management Series website for more information.
About the University of Maryland's Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and part-time MBA, executive MBA, online MBA, specialty master's, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.
Contact: Greg Muraski at [email protected]
SOURCE University of Maryland's Robert H. Smith School of Business
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