The Collateral Risk Network (CRN) is a group of dedicated chief appraisers, collateral risk managers, regulators, industry stakeholders and valuation experts who are focused on resolving the many challenges facing the valuation profession.
The CRN Executive Council intends to best leverage the considerable brain trust of the CRN by incorporating additional structure and actionable items as identified by the committees. The committees shall provide information, expertise, advice and assistance requiring involvement and the attention of CRN members to actively engage legislators and regulators to effect change. The Committees’ mission is to examine aspects of the appraisal system, within their respective areas of responsibility, and to identify solutions.
This manual provides an overview of the committee framework, member engagement, responsibilities, and milestones.
Appointment Process for Committee Chair and Vice Chair Positions
Choice of Committee Chair and Vice-Chair positions is by appointment. This process will begin at Executive Council level. CRN Chair and Vice-Chair positions are voluntary. CRN members will have the opportunity to apply to serve as Chair or Vice-Chair within the selection process to be completed by the Executive Council.
Qualifications and Criteria
CRN members can apply to serve on no more than two committees (see schedule on page six of this document for meeting times to avoid potential conflicts). Eligibility to serve on all CRN committees shall be contingent upon maintaining a current CRN membership. Members, who intend to serve on a committee, agree to attend a minimum of three of the four CRN annual meetings. The committees are encouraged to meet outside of the regular CRN meetings; members agree to attend as many of these meetings as possible however, participation in those meetings is not factored into the attendance requirement.
Monitor a broad range of Federal and State issues that affect the valuation community to ensure legislative and regulatory changes do not threaten the important role and responsibility of the valuation industry. The Government Affairs Committee will develop a plan of engagement of how the collective influence of the diverse membership of the CRN can influence positive outcomes for the valuation community.
Identify and establish best practices for appraisal stakeholders and consumers of appraisals. The Best Practices Committee will also develop methods to disseminate the information throughout the housing industry.
The need to identify and address emerging issues is critical in today’s rapidly changing environment. The Emerging Issues Committee will consider all issues identified by CRN members as well as determine critical areas in need of solutions. Emerging issues includes responding with comment letters to ASC, TAF, AQB, ASB and others as needed.
The Appraisal Management Committee (AMC) was established to provide an open forum to explore and serve the needs of the appraisal management community. With the knowledge that communication produces the best results, this committee is open to all the different industry stakeholders and participants in the CRN. Through this dialogue the committee will develop industry solutions in support of the valuation industry through transparency.
The Lender committee has been established to provide a forum for lenders only to explore and serve the needs of lenders within the valuation community.
This committee will be a formal liaison between the CRN and Fannie Mae, Freddie Mac, the VA, USDA and FHA. Many of the challenges within the valuation community can be resolved with open dialogue with these agencies to identify policies that may negatively impact the appraisal community.
Committee Member Application
All interested members must submit an application. Members will serve on one committee but may apply for as many as two committees. Members will be asked to rank their committee choice preferences and provide background information including why their experience is best suited for a particular committee. Members will receive a confirmation notice informing them of the committee(s) for which they have been selected to serve. Membership of the Lender Committee is limited to lenders only.
Committee membership may be limited at the discretion of Chair and or Vice-Chair. Non members may attend committee meetings as observers only with the exception of the lender committee which is lender only.
Committee Chair and Vice Chair Responsibilities
- Executive Council will participate in a weekly conference call.
- Review the end of the year report of committee activities from the previous year.
- Work to establishing committee goals for the current year and to develop an annual action plan to accomplish the goals.
- Attend CRN meetings, encourage committee member participation and convene regular conference calls and other electronic methods of communication to aid in the committee accomplishing their annual plan.
- Participate in Committee Email Forum discussions and moderate the conversation.
- Be available to participate in issue advocacy meetings and calls.
- Assist in actively recruiting committee members whose experience and expertise benefits the committee.
- Prepare a written summary of the committee meetings prior to the CRN quarterly meeting that communicates the work of the committee as well as verbally present a synopsis of the committee activities and any committee recommendations at the CRN meeting. Chairs are responsible for submitting a written summary after each in person CRN Committee meeting to the Executive Council.
- Prepare an end of year report detailing the committees activities during the year, progress made toward accomplishing the goals, and suggested activities and goals for the committee for next year.
- Committee Chairs and Vice-Chairs should provide bring the necessary documents for distribution to their committee meeting. For onsite needs, please provide documents to Allterra Staff 24 hours prior to the meeting.
- Committee Chairs and Vice-Chairs should be aware that onsite AV is costly and must be approved in advance of onsite meetings. Distributing documents in lieu of the use of AV is preferred.
Committee Member Responsibilities
- Support Committee Chair and Vice Chair by assisting in developing goals, implementing actions, developing reports and assisting in identifying relevant topics of discussion for the committee.
- Encourage subject matter experts (SMEs) to participate in the committees and to independently solicit their expertise to assist in the committee’s knowledge base.
- Actively participate in a minimum of three meetings.
- Maintain active status in the CRN.
- If you cannot fulfill the responsibility of your appointment for any reason, you should notify your Chairman as soon as possible so another member may be appointed to the committee.
- Make best efforts to be available to participate in advocacy meetings and calls supporting committee and CRN objectives.
Committee Meeting Structure
- Meetings will be held the day prior to or after the regularly scheduled CRN meeting (depending on meeting space availability).
- CRN Committee Members will be seated at the table. All CRN Members wishing to sit in on a particular Committee Meeting will be seated in the room, but not at the table. Those choosing to sit in on Committee Meetings should not join the conversation unless recognized by the Committee Chair. Non Committee participation is at the pleasure of the Committee Chair. Only CRN Committee Members will participate in any official vote for the Committee.
- CRN meetings will include regular updates with each committee reporting on activities for discussion and consideration of any necessary action.
- CRN staff will assist in arranging meetings with legislators, regulators and industry to facilitate committees in achieving their action plan.
- Documents produced by the Committees will be presented for discussion and reviewed by Executive Council for approval prior to publication.
- Committee documents will be published on the CRN website.
- All documents and work product produced or published by the CRN Committees will be branded CRN with the CRN Logo and/or noted as Powered by the CRN.
- There will be three tracks for meetings:
- Track One:
- Track Two:
- Track Three:
- Track One: