As everyone working in a regulated industry understands, having policies and procedures in full compliance with applicable regulations and guidelines is crucial. Appropriate oversight of real estate appraisers, reviewers and evaluators can be a daunting task, especially at scale. With periodic changes/updates to Interagency Guidelines, the need has never been greater for regulated financial institutions to ensure appraisal policy compliance that satisfies the demands of regulators. Lenders simply cannot afford to go without it.
That’s where we come in. The team at MidLantic is composed of experts with extensive experience in the inner workings of regulatory guidelines to help you develop or update an appraisal policy in full conformance with regulatory requirements.
Benefits of Establishing An Expertly-Written Appraisal Policy Include:
- Ensuring an independent program, free from any influence from loan production staff or undue influence from any party.
- Create appropriate internal controls (particularly for smaller institutions) to ensure independence in the process and compliance with regulatory standards.
- Establish appropriate criteria to ensure appraisers, evaluators and reviewers possess the requisite education, expertise and experience to competently complete assignments.
- Create a process for adding and removing appraisers, evaluators and reviewers.
- Ensure compliance with USPAP.
- Identify all exemptions to the appraisal regulation, including those transactions potentially eligible for an evaluation in lieu of an appraisal.
- Outline content requirements for appraisals and evaluations
- Identify appropriate methods to monitor portfolio collateral values.
MidLantic Financial has written dozens of real estate appraisal policies and conducted countless appraisal policy consulting and training sessions with our clients. Knowing that policies and accompanying procedures are spearheaded by a team that is highly knowledgeable in regulatory compliance is what draws our clients to us–but it is our exceptional customer care makes them stay.
"OMG! This breaks the speed record! Who’s got the magic wand over there? Thanks Cindy, you guys are unbelievably amazing."
Andrea, Relationship Manager...Commercial Bank in MD
"Cindy, you are the best…thank you!!! Thank you"
Angela, Chief Credit Officer...Commercial Bank, MD
"Oh my goodness! You guys are so darn AWESOME!!! Thank you very much indeed."
Daniel, Underwriter...Credit Union Service Organization, MD
"One of the things people appreciate about you Cindy is you do run interference. You know our business and what is reasonable and not reasonable. You keep a lot of the nonsense at bay."
Donald, SRA Appraiser in VA
"Of all the people in all the world, you’re my favorite right now."
John, MAI Appraiser in DC
"Just wanted to send a big “thank you” to you all for your exceptional customer service to us when we were in need for this rush review. We appreciate your willingness to go above & beyond to help make this closing possible for our lender when he was under such a time crunch."
Marla, Collateral Valuation Specialist...Commercial Bank, WV
"You are amazing as always, thank you!!"
Meredith, Senior Credit Manager...Commercial Bank, VA
"Cindy has been a trusted adviser to me personally and to the bank for a number of years and I believe will provide exactly what you are looking for."
Ryan, Chief Real Estate Lending Officer...Commercial Bank, MD
"You’re the bestest!!! thanks again for everything!!!"
Sandy, Portfolio & Appraisal Manager...Commercial Bank, VA
"Thank you all for your quick action...I really enjoy working with your group!"
Theresa, Relationship Manager...Commercial Bank, MD
"You made this process very easy. Thank you. I suspect we will do this every year with your team!"
Bryan...Institutional Investor, TX
"Thank for keeping us on the straight and narrow!"
Ken, CRE Senior Underwriting Manager...Commercial Bank, MD
Choose MidLantic for Your Appraisal Policy Consulting Needs
Choosing an appraisal policy consultant is a crucial decision. Consider why MidLantic Financial is the best fit for you.
Complete Regulatory Compliance
At MidLantic Financial, our diligent approach to appraisal policies ensures the highest level of compliance regardless of any shift in regulatory emphasis or changes over time. In addition, our team of banking experts is always in the know about updated regulatory requirements, so your institution’s policies can continue to stay in compliance at all times….when getting it right matters most.
Industry-Leading Quality Control
Outsourcing quality control is challenging for many lenders; however, this is where MidLantic Financial shines. Accuracy and quality are at the forefront of every service we provide for clients, and it shows in the products and services we deliver.
Dedicated Service for Every Client
Our clients can tap into our extensive expertise whenever issues or concerns arise. We offer a consultative approach and flexible schedule to meet your needs and assist you in making informed decisions regarding your institution’s appraisal policies.