AMCSS VALUATION INDEPENDENCE PROGRAM
AMC Settlement Services has implemented policies and procedures to ensure full compliance with all existing appraisal independence requirements. The following is a summary of how AMC Settlement Servicesí current processes, valuation technology, and vendor selection process ensures compliance.
v AMC Settlement Services provides a Certification of Valuation Independence with each completed appraisal report. This certificate provides AMC Settlement Services' Seal of Assurance that the market value derived was delivered through a compliant process and without any undue influence on the appraiser.
v AMC Settlement Services has adopted written policies and procedures implementing appraisal independence guidelines, including, but not limited to adequate training and discipline rules on appraiser independence and has mechanisms in place to report and discipline anyone who violates these policies and procedures.
v AMC Settlement Services will not provide the appraiser any estimated, or target value of the property or the loan amount applied for, except for purchase transactions, where a copy of the sales contract may be provided.
v All completed reports are ordered through properly licensed appraisers and reviewed by experienced appraisal underwriters to validate compliance with USPAP, FIRREA, Interagency Appraisal Guidelines, and applicable state AMC guidelines, ensuring all appraisals meet or exceed all applicable requirements.
v AMC Settlement Services valuation staff has been certified through course instruction and test administration on all appraisal independence guidelines.
v AMC Settlement Services' technology ensures that the selection of the Appraisal Vendor is non-preferential and unbiased based on a process fully published and adhered to company wide. Engagement of the Appraiser is based on license type, quality, capacity, and familiarity with the order area; with consideration to the size, and complexity of the transaction. Each individual order requires the verification of the requisite license, education, expertise and geographic competency of the Appraisal Vendor chosen to complete the evaluation assignment.
v AMC Settlement Services has reporting guidelines to investigate, document and potentially report any factual findings of any and all non-compliant actions of an appraiser or client vendor.
Please feel free to contact our Director of Compliance, Tracey Orgovan at 888-752-5141, ext. 7409, or AI@amcssc.com, should you have any questions regarding AMC Settlement Servicesí appraisal independence program or our commitment to providing the highest quality compliant valuations in the Industry.
Thank you for considering AMC Settlement Services to fulfill your Valuation needs.