EMERGING ISSUES TRACK: Changes to the Appraisal Process and Appraisal Valuations

Senior Managing Director

Beji Varghese is a Senior Managing Director in the Financial Services practice based in Charlotte, North Carolina. He is an accomplished project leader and a problem-solver with more than 30 years of experience addressing complex financial services risk management, compliance and technology-related issues. Mr. Varghese is an experienced mortgage banker. He has worked as the COO of a de-novo mortgage company and as a consultant to the top twenty mortgage servicers and originators in the country. He has also served as an independent consultant reviewing compliance with mortgage origination and servicing-related matters for the Consumer Financial Protection Bureau (“CFPB”). Mr. Varghese has a strong technology background and has designed and implemented large data warehouses to support profitability reporting. He has also led multiple technology tool selection projects for large financial institutions, helping banking clients develop detailed business requirements and technical specifications and conduct end-user testing for large custom system implementations. Additionally, he is a testifying expert and has worked closely with law firms, regulators, boards of directors, C-suite executives and outside counsel.

Managing Director - Home Lending Collateral Valuations Group, Chase

Dan Hofacker is head of the Collateral Valuations Group, a team that supports the Home Lending and Private Banking businesses through an independent valuations team that is focused on sound and accurate appraisals.  Dan is a strong advocate for appraisal industry reform and is involved with the Housing Policy Council’s Appraisal Working Group, OCC’s Project REACh, where he leads the Equitable Appraisal workstream, and the Appraisal Salon. In his 40 years with JPMorgan Chase, Dan has led a number of diverse teams across Home Lending, Technology, Finance and Operations. Born and raised in NJ, Dan graduated from Rutgers University with a MBA in Finance, and a B.S. in Accounting. Dan is also a graduate of the Retail Bank Graduate School of Mgmt. at UVA.

Of Counsel, Holland & Knight LLP

Robert M. Jaworski is a financial services attorney in Holland & Knight's Philadelphia office who focuses on consumer credit compliance and other regulatory issues of concern to banks, thrifts, credit unions, mortgage bankers, secondary mortgage lenders, finance companies and industry-related trade associations. Mr. Jaworski has extensive experience counseling institutions that provide financial products and services to consumers regarding the myriad federal and state laws and regulations with which they must comply. He assists clients in their development of new consumer financial products and services, reviews documents for compliance with federal and state laws, assists with bank applications and other regulatory issues of concern to banking institutions.

Senior Associate, Alston & Bird, LLP

Melissa Malpass advises financial institutions on compliance with federal and state consumer financial laws. She regularly counsels mortgage lenders on loan origination, including disclosures, loan originator compensation, ability-to-repay standards, and other requirements imposed by the Truth in Lending Act (TILA), Real Estate Settlement Procedures Act (RESPA), and Title XIV of the Dodd–Frank Act. Melissa also advises mortgage servicers on compliance with federal and state regulations governing loss mitigation and foreclosure. Melissa has extensive experience counseling financial institutions on fair lending matters, specifically with developing internal policies and procedures for compliance monitoring and training. She has advised financial institutions on regulatory compliance with federal consumer financial laws such as the prohibition on unfair, deceptive, and abusive practices. In particular, she provided financial technology companies with regulatory guidance on emerging payment systems and requirements under the Electronic Funds Transfer Act (EFTA).

Chief Appraiser and Director of Valuation, Single Family, Freddie Mac Single-Family

Scott Reuter is the Chief Appraiser and Director of Valuation for the Single-Family Division. The valuation team at Freddie Mac leads the ongoing development and refinement of property valuation risk management strategies, underwriting products, and establishing and maintaining a credible quality assurance process across multiple lines of business support. Reuter is a state certified-general appraiser with over 35 years of experience in valuation, appraisal and collateral risk management concerns. Prior to Freddie Mac, he held management positions with Bank of America, Goldman Sachs and GE. He was recognized in 2021 as the CRN (Collateral Risk Network) “Valuation Visionary” and was a recipient of GE’s prestigious “Americas Award” for Outstanding Contribution to the Business. Reuter holds a B.A. from The Ohio State University and has completed the Executive Leadership program at Cornell University’s Johnson School of Business.