COMPLIANCE                  

AMC Licensing by State

Valued Veterans is licensed in all states that require licensure and operate regularly in all 50 states.

For those states that require licenses, simply click the state to access an electronic copy of our license.

Compliance is a non-negotiable.

We have refined our processes to be certain your order is compliant… every time.  Here are a few areas we have built strict adherence to compliance and why.

Fully Customizable Reporting available, which is trackable in real-time through the Client Dashboard.

  • Product/Loan type
  • Product Performance, Staff Performance
  • Client Business Intelligence (BI) Dashboard: Appraiser Performance, Turn Time, Revision Rate, Revision Pre- and Post-Delivery Categories (See Sample)
  • Fully Customizable and Tailored Reporting on SOW service level agreement. (Request Sample)
  • Geographic Report – State, County, Zip Code

Our standardized, multi-stage process combines highly trained experts with powerful technology to ensure superior quality appraisal reports on each and every order. Utilizing a “Smart Selection” system our staff identify Select Fee Panel appraisers who are best matched to handle an appraisal assignment.  These factors include:

  • Appraisers with coverage for the subject property’s market
  • Credential level
  • Past performance and quality ranking on scorecard
  • Appraiser’s availability
  • Communication and revision request score
  • Appraiser’s level of competency in the report type requested
  • Turn time
  • Price becomes a variable only when all other quality and performance rankings are equal

Assignment Logic – Appraiser scorecards are aggregated on a monthly basis to identify trends in scoring that appear to be geographical in nature and the appraiser’s coverage area reduced to exclude those areas of sub-par performance.

Validation Measurement Appraisers geographic competency is determined via several methods.

(i) appraisers address of record is mapped within our AMS technology by miles distance in a beeline to the subject property.

(ii) The Appraisers profile also notes the specific number of assignments by product and zip code within the previous 12 months.

(iii) Within the supplemental addendum appraisers are required to state which data sources they have access to and utilized. Several of our clients request that the appraisers be required to make as part of their report or provide separately an MLS print out for each comp used in report as well as a list or Market Report showing recent sales/stats in the area.

Prior to accepting an assignment or entering into an agreement to perform any assignment for Valued Veterans, an appraiser must have the knowledge and experience to complete the assignment competently. All appraisal assignments include an agreement within the engagement letter attesting that the appraiser has the geographical competency to complete the assignment. In the event that they are not competent, the appraiser will notify their workflow coordinator before proceeding. In those instances the assignment is reassigned to a qualified local appraiser to ensure development of credible assignment results.

We train all employees and panel members on our AIR policy with an annual recertification of each employee to insure a thorough understanding of the policy.

The AIR policy is communicated to our panel with every engagement letter and includes a hotline and email address for our compliance committee that they may utilize should they feel their independence has been jeopardized. Appraiser engagement contracts specifically prohibit the appraiser from communicating with the client/lender, including but not limited to, Loan Officers, Loan Production Staff and Mortgage Brokers.

Our understanding of customary and reasonable is that no exact fee for a specific product in any geographic arena has been set.   There are two key approaches that must be considered, as it relates to Dodd Frank and the terms reasonable and customary. Our fee structure is formulated by taking into account the following:

  1. The fee which is most consistently charged by an appraiser for a particular assignment type
  2. The fee that is most commonly accepted for a specific form or assignment in a geographic region
  3. The fee most commonly accepted is done so by similarly credentialed appraisers

Secondary Review Sources add depth and certainty around property value.  These Sources are available as requested and will affect price point of the product.

The level of quality control and depth of review is based on the Service Level Agreement, defined by the client at the onset of an engagement, specifying items that are required to be verified in each report. This could include the requirement of the appraiser to upload the MLS sheets or Tax records for each sale used. The quality control department is required to confirm that the information on the Appraisal matches the information on the supporting documents provided and any inconsistencies are identified and explained in the appraisal report (this last bit isn’t referring to the QC department). Other clients require that an AVM is conducted on each Appraisal to ensure the subject’s characteristics are correct and that the comparable sale and listing data is reasonable based on competing sales and local market listings. Additionally, the RealView report can be used to confirm the data provided in the 1004C form.

We have developed a highly diversified panel of select fee appraisers through regular recruitment practices.  Appraisers are thoroughly vetted for quality, depth of experience, aptitude in order to identify the best appraisers in your footprint. 

This ongoing and a permanent practice identifies candidates by surveying local markets, interested partners, client recommendations, lists of active and in good standing appraiser from the Appraisal Subcommittee and various online search tools. The quality and work ethic of candidates is then investigated. Once vendors have passed our preliminary process and selection they then are once again surveyed on individual client and product requirements. Finally selected vendors are required to execute an SLA and participate in a regulatory background check screening.

Appraiser Application Criteria.

  • Proof of Valid, active and in good standings state license
  • Appropriate individual E&O insurance, policy in place and completion of a related questionnaire
  • Background check completed
  • Minimum of three sample reports for assignment types interested in receiving
  • Coverage areas identified by zip code
  • Acceptable work product reviewed by one of our in house appraisers
  • Current professional resume

Each appraiser is monitored and scored on a per-order basis (by product) and the overall appraiser scorecard is taken into consideration prior to an order assignment.

During the the management process and upon receipt of a submitted report to our processing along with the QC team score appraisers. Panel members receive a scorecard rating, based on their timeliness, quality of product, professional candor and other factors. The results of each review are saved in the appraiser rating section of the appraiser profile. Appraiser ratings are used during the assignment processed as well they are reviewed on a bi-weekly basis by the vendor management staff. (See Attached Sample)

Panel appraisers are also internally audited and reviewed on a percentage basis. This is also a tool used to identify any errors missed during the pre-audit process and to adhere to state appraisal board licensing review practices. If additional items are found during the audit, the panel appraiser is notified utilizing the negative score card template (which is saved to their profile). The appraiser is notified utilizing the positive score card template (which is saved to their profile) if there are no errors discovered during the audit. Each appraiser receives monthly an automatic report card to promote meritocracy or corrective action needs.

If an appraiser falls below the acceptable quality rating of 80 percent, the appraiser is demoted to a probationary status.

The QC manager formally notifies the appraiser that they have been placed on probation and that additional training must be completed prior to withdrawal of the probationary status. The appraisers profile is restricted to zero orders per day until additional training has been documented. Upon documented completion of the training, the appraisers profile is limited to a limited threshold of orders per day, which is dependent on the severity of the issues identified in the audit. All assignments during the probationary period are escalated to the QC manager for review and additional feedback is provided to the appraiser. If the appraisers quality improves and the appraiser rating rises above the minimum 80 percent within the specified probationary period, the appraiser is notified that their probationary status has been lifted and the assignment restriction is removed. If the appraiser continues to have quality issues, additional training and an extension of the probationary period is communicated to the appraiser.

100% of appraisal reports completed and delivered by ValVets are fully USPAP compliant.  On Rural orders, where required, all appraisals are completed UASFLA compliant.

Our Rural and Agricultural specialized appraiser panel have all the necessary working knowledge and ability to apply the correct appraisal theories, practices, and techniques to render an accurate opinion of value as defined and to document the finding s and valueds in an appraisal report compliant to USPAP and UASFLA and other applicable state and federal directives.

Additional information on UASFLA (“Yellow Book”) compliant reports can be found here.

About Us


At Valued Veterans, we offer all the power and resources of the largest AMCs and yet still treat every order as if it were our only one. We are versed in market areas nationwide, providing a unique bridge between lenders, appraisers and homeowners.