Belgrade 12 December Luke Brucato Manager CRIF Certification Services

Transcription

1 Belgrade 12 December 2011 Luke Brucato Manager CRIF Certification Services

2 Agenda Why does property valuation matter? The EC Mortgage Credit Directive Proposal impact on the bank What is personnel certification Why ISO Accredited Certification? Our experience in Italy Steps towards a possible project in Serbia 2

3 Why does property valuation matter? LTV 3

4 Why does property valuation matter? Bank Consumers Financial Regulators LTV Investors Mortgage Insurance Rating Agencies 4

5 Why does property valuation matter? 5

6 What does the European Commission think? The EC has been investigating the European residential mortgage market for the last 10 years (consultation, green paper, white paper, proposal for recommendation, draft directive) From a high level recommendation to a directive which will be legally binding and change the way banks value collateral property What changes? 6

7 EC Residential Mortgage Credit Directive Article 18K 1. Member States shall ensure that appraisers carrying out valuations of residential immovable property which are used to value the collateral in credit agreements are carried out by appraisers who are professionally competent. 2. Member States shall ensure that a public register is established and regularly updated of appraisers who are deemed professionally competent. 3. Member States shall ensure that appraisers who carry out valuations used by a creditor to value the collateral are sufficiently independent of the creditor, the borrower and, where applicable, the credit intermediary, to provide an objective and impartial valuation. ISO ACCREDITED CERTIFICATION 4. In order to ensure consistent harmonisation, the Commission should be empowered to adopt delegated acts in accordance with Article 26 in order to specify minimum valuation standards, minimum standards regarding independence and minimum professional standards for appraisers. 5. Member States may specify further criteria which shall be used to determine the professional competence of appraisers. Such criteria shall not include a requirement for the appraiser to be established in their territory. 7

8 Personnel certification Personnel certification means measuring: Who you are What you know What you know how to do according to a specific standard and monitoring over time to ensure ongoing adherence to the standard 8

9 ISO ACCREDITED CERTIFICATION Multilateral Agreements Multilateral Agreements National Accreditation Bodies Certification Company Certification Company Certification Company 9

10 European acceptance ISO ISO ISO ISO ISO ISO ISO ISO ISO 17024

11 The CRIF Group Tampa, USA Dallas, USA Londra, UK Atlanta, USA Capodistria, Slovenia Varsavia, Polonia Mosca, Russia Pechino, Cina Mumbai, India Austin, USA Bologna Praga, Rep. Ceca Credit bureau Decisioning Business information Lucca, Milano Software solutions for integrated lending Collection Bologna, Mestre Real estate information services Mexico City, Messico Roma 11 Bratislava, Rep. Slovacca Software IT & Outsourcing

12 CRIF Certification Services Supervisory Board Scheme Committee Board of Examiners 12

13 CRIF Certification Services Scheme Committee 13

14 CRIF Certification Services Residential Commercial Scheme Committee Certification Scheme CCS-B01 Certification Scheme CCS-B02 14

15 Certification Exams Giugno 2008 CCS-B01 Ottobre 2008 CCS-B01 Marzo 2009 CCS- B01 Ottobre 2009 CCS-B01 Ottobre 2009 CCS-B02 Novembre 2009 CCS-B02 Marzo2010 CCS-B01 Aprile 2010 CCS-B02 Ottobre 2010 CCS-B01 Ottobre 2010 CCS-B02 Marzo 2011 CCS-B01 Marzo 2011 CCS-B02 Marzo 2011 CCS-B01 Rinnovo Settembre 2011 CCS-B01 Rinnovo Ottobre 2011 CCS-B01 rinnovo Ottobre 2011 CCS-B02 Ottobre 2011 CCS-B01 15

16 Certificate Mario Rossi 16

17 2011 Reassurance for banks VALUATION REPORT Lower costs for the Bank in training internal/external property valuers Lower costs for the Bank in quality control of property valuations Better risk management and assured compliance 17

18 CRIF Certification Services results 2 certification schemes accredited ISO exam sessions 284 certificates issued Over 1100 valuation reports checked by the Board of Examiners Over 7400 hours of ongoing training completed by CCS certified professionials 18

19 Italian Banking Association Guidelines I valutatori certificati da una società accreditata ISO possiedono tutti i requisiti necessari(r.2.3.7). 19

20 Italian Property Valuation Code 4.4 Il Codice delle Valutazioni Immobiliari prende in considerazione, per quanto occorrente, anche i contenuti del manuale di CRIF Certification per la certificazione delle competenze dei valutatori che redigono rapporti di valutazione relativi ad immobili offerti in garanzia ai fini della concessione del credito per immobili ad uso residenziale e con destinazione d uso diversa dal residenziale, relativi a clientela retail e corporate. 20

21 ISO Accredited Certification in Serbia? Identification of key stakeholders definition of the Scheme Committee Establishment of formal company structure Creation of the management system support from CCS Begin certification exam and request ISO accreditation inspections 21

22 Thanks for your attention and we would be glad to help! 22