Appraiser Independence / Appraisal Management Services

Posted Filed under Blog.

Appraiser Independence - Appraisal Management Services

Valuation Management Group (VMG) was established 10 years ago with the primary goal of offering appraisal management services that would create an environment of true appraiser independence and quality appraisal reports for financial institutions. Our nationwide vetted appraiser panel is monitored for updated license, errors and omissions insurance and infractions through the appraisal subcommittee.  Upon completion of the review process, VMG utilizes an Appraiser Scoring Criteria which includes quality, turn time, and service.  

Our engagement process begins with a dedicated client specialist who reviews the appraisal assignment and considers the appraisers’ distance from the property, service score and expertise prior to selection. Our Client Specialists communicate with the appraiser about the assignment utilizing a double-blind management system. The system is designed so that the client does not know which appraiser has been engaged until the completed report is ready for delivery.

VMG’s Quality Assurance Reviewer (QAR) completes the technical appraisal review once the appraiser has uploaded the appraisal to the secure system. QAR’s are trained to review for quality, taking reasonability, readability and compliance with USPAP and other appraisal standards into consideration when requesting any errors or omissions to be corrected before delivery to the client.

Clients can submit an appraisal appeal form with any questions or revision requests once they receive the report. Our Quality Assurance Specialist will review the form and will submit one request to the appraiser for corrections and clarification; VMG will also review the appraiser’s response to ensure all concerns were addressed.

We train our employees on appraiser independence laws and perform internal quality control audits to ensure all policy and procedures are being followed.

Our primary mission statement that we established 10 years ago “is to institute an environment where true appraiser independence and quality commercial and residential appraisals can be obtained.” We have honored this mission on over 400,000 appraisals. Any financial institution looking for a solution for their appraisal management to ensure appraiser independence and quality technical appraisal reviews should call Valuation Management Group.

Valuation Management Group is a national, full service appraisal management service company that manages the appraisal process, including the required review, for financial institutions, banks, mortgage bankers, and credit unions. We offer the full array of commercial and residential appraisal products and services. We take the appraisal process from ordinary to extraordinary.


Comments are closed.