QUALIFICATIONS OF APPRAISER

LORETTA J. LAUBACH

CERTIFIED RESIDENTIAL REAL PROPERTY APPRAISER

MEMBERSHIPS/LICENSING:

·         Certified Residential Real Property Appraiser (Effective 4/96)

·         Past Member of the National Association of Master Appraisers (NAMA)                                  

·         Past Member of the Iowa Chapter of National Association of Master Appraisers-                  * Served on the Board of Directors for the Iowa Chapter of the National                                       Association of Master Appraisers from September 2003-September 2004.                 * Secretary of the Iowa Chapter of the National Association of Master                                           Appraisers, September 30, 1995 to September 30, 1996. 

PRACTICAL EXPERIENCE:

·         Successfully completed 2,000 hours of experience from 1994-1996 and attended 105 hours of required appraisal education to obtain certification as a Certified Residential Real Property Appraiser in the State of Iowa.

·         Internship under Richard Vander Werff, MSA, CAI, Certified General Real Property Appraiser, President, Vander Werff and Associates, Inc. from January 1994 to April 1996.

·         Inspect approximately 100-150 single family residential and multi-family properties on a yearly basis. 

·         Appraisal Coordinator, Vander Werff and Associates, Inc., Sanborn, IA- October 1994 to October 1995 - duties included scheduling appraisals, accepting appraisal assignments, setting up appraisal files, client communication, coordinating with office manager and company president.

·         Appraisal Courthouse Research Specialist, Vander Werff and Associates, Inc., Sanborn, Iowa - August 1987 to 1996 - duties included comparable sale research, verifying comparable sales, subject research, courthouse research, and keeping data bases up to date.

·         Appraisal Preparation Specialist, Vander Werff and Associates, Inc., Sanborn, Iowa - assisted in the preparation of farm real estate, residential, commercial, and chattel property appraisals. 

·         Experience on FHA and Supplemental Standards required of Secondary Markets

REPRESENTATIVE INSTITUTIONS SERVED AS AN APPRAISER:

• American Bank – Le Mars, Iowa
• American State Bank – Granville and Sioux Center, Iowa
• Central Bank – Spirit Lake, Iowa
• Citizens State Bank - Sheldon and Boyden, Iowa
• Department of Housing and Urban Development/Federal Housing Authority (HUD/FHA)
• First National Bank – Primghar, Iowa
• First Trust and Savings Bank - Marcus and Cleghorn, Iowa
• IBMC – Johnston, Iowa
• Iowa State Bank - Sanborn, Sheldon, Ireton, Hull, Paullina, and Orange City, Iowa
• Le Mars Bank and Trust - Le Mars, Iowa
• Melvin Savings Bank – Melvin, Iowa
• NorthStar Bank – Estherville, Iowa
• Northwestern Bank – Orange City and Sheldon, Iowa
• Northwest Bank – Spencer, Iowa
• People’s Bank - Sheldon, Rock Valley and Lester, Iowa
• Sanborn Savings Bank - Sanborn, Iowa
• Savings Bank – Primghar and Hartley, Iowa
• Security State Bank – Sutherland and Paullina, Iowa
• United Community Bank – Hartley, Milford, and Lake Park, Iowa
• USDA Rural Development

APPRAISAL EDUCATION

Attended and successfully completed:

• Tested and successfully completed HUD Examination on December 3, 1999, to obtain HUD certification to appraise residential properties.
• Attend and successfully complete all required continuing education in association with certification renewal.  Various topics include appraisal of difficult residential properties, writing the appraisal report, reviewing the URAR, Cost Approach techniques, and Uniform Standards of Professional Appraisal Practice.
• Successfully completed HUD Appraisal Standards Course – October 1999; knowledge of HUD Manual 4150.2 and 4905.1 and HUD property requirements.
• Attend all courses relating to the Uniform Standards of Professional Appraisal Practice to remain current with requirements and licensing.

CURRENT CONTINUING EDUCATION COMPLETED FOR 2011 CERTIFIED RESIDENTAL REAL PROPERTY LICENSE RENEWAL

• New Approach to FHA Appraising  – Feb. 2011
• Appraising 2-4 Family and Multi-Family Properties  – Feb. 2011
• Appraisal Report/Writing  – April 2010
• Foreclosures & Short Sales  – April 2010
• National USPAP Update  – Jan. 2010

NON-APPRAISAL EDUCATION

• Secretarial Seminar, Prime Learning International, Alpine, Utah
• Beginning Computer Skills, Northwest Iowa Technical College Sheldon, Iowa
• Graduated Sanborn Community School, Sanborn, Iowa - 1980

Updated: March 2011