Services…cont
- Engage the appropriate appraiser—once you engage Peach Valley to be your dedicated AMP service provider, we will take the bank's approved third party appraisal list, as well as our relationships with other appraisers, to select the best suited appraiser for the job. Our selection process is based on the quality of the appraiser and the type of asset being appraised to ensure you are receiving the accurate fair market value of the collateral. Additionally, we will negotiate price with the appraiser and ensure the fee is customary and reasonable, as mandated by the Dodd-Frank Act. We also have complete transparency in the fee process by allowing the bank to pay the appraiser directly.
- Monitor real-time progress of ordered appraisals—Peach Valley will ensure that all engaged appraisers meet the deadlines given and will stay in constant communication with the appraisers to ensure timely completion. We will not allow an appraiser to miss your deadlines.
- Comprehensive Review and monitoring of the completed appraisal—once the appraisal is received, we will review the appraisal for compliance of USPAP appraisal regulations and guidelines. This service is where the real value is achieved by engaging Peach Valley. As required by various regulatory guidelines (Fannie and Freddie HVCC requirements, Interagency Guidelines, etc.), your institution is required to have the appraisal process to be 100% independent from your credit group including the selection, ordering and reviewing of the appraisals. The Interagency Appraisal Guidelines takes this a step further than other applicable regulations by indicating that the reviews must be completed by knowledgeable individuals with the appropriate education and experience. When you utilize our services, it is clear to Regulators that the appraisal process is truly independent. Furthermore, Peach Valley's competent staff is comprised of seasoned real estate professionals that have experience in all facets of commercial and residential real estate. Additionally, there are various companies in the field that utilize computerized audit techniques to perform this function, which is not the case at Peach Valley. We will perform a thorough hands-on review and audit of every appraisal ordered before it is delivered to the bank. This review also ensures that USPAP and other required regulations are being followed by the appraisers.
| « previous next» (page 2 of 3) |