With its robust tracking platform and data retention/analysis, Appraisal Valet continuously tracks appraiser metrics including acceptance rates, the average distance to subject property, report quality scores, revision rates, and on-time delivery patterns. We pride ourselves on our partnerships with the highest quality appraisers in the industry and synthesize automated statistics with human decision making to select the most appropriate appraiser for each property appraisal.
Dodd-Frank Appraiser Independence Requirements (AIR) protect the independence of the appraiser and the integrity of their valuations. These regulations help protect the consumer, ensure payment to the appraiser, allow for independent value conclusions, regulate the selection process by the AMC, and provide a federally regulated hotline for suspected violations of AIR at http://www.refermyappraislcomplaint.asc.gov
Appraiser Competency and Appraiser Independence Competency statements such as below are typically found in the appraisal addendum, attesting to the fact that the report meets Independence Requirements:
Statement of Appraiser Independence & Competence
The appraiser is well versed on Appraiser Independence Requirements (AIR). During the course of this appraisal assignment, the appraiser is aware of no acts or practices that violated AIR. The appraiser has not been provided by the AMC or loan production staff with an estimated or target value, the loan amount, or loan-to-value ratio for the subject property. By accepting this assignment, the appraiser has agreed that s/he is competent with the specific property type and geographic location of the subject property.