Since the 2008 housing crash, the federal government implemented new laws to ensure quality appraisals. Mortgage lenders can no longer go directly to an appraiser. Instead, lenders must provide a separation between the appraiser and originator.
ACT Appraisal has always taken quality control seriously. ACT guarantees that every appraisal will be manually assessed by our in-house Quality Control Department. ACT Appraisal uses its “call first program” to work with appraisers who produce high-quality appraisals on time. Once the appraisal comes back to ACT, it undergoes an in-house quality control process to ensure completion and accuracy of data.
ACT Appraisal’s in-house team of licensed/certified appraisers review every appraisal using its three-step process. First, we conduct an electronic audit to check that all data fields are complete, i.e name, zip code, and address. Second, once the appraisal passes the electronic audit, a Quality Control (QC) representative will manually review the appraisal using the lender’s checklist to ensure each appraisal meets the client’s underwriting guidelines. In the third step, an actual appraiser QC’s the report to confirm USPAP compliance, SSR’s are created and sent to the UCDP and EAD portals.
If the QC rep does not think underwriting will understand the appraisal notations, such as the comparables or other verbiage, the appraisal is sent back to the original appraiser for adjustments until the appraisal meets all the requirements and passes the in-house quality control check.
When you order an appraisal through ACT Appraisal, we guarantee that every detail is accurate. ACT Appraisal employs an in-house team of licensed/certified appraisers that manually review every appraisal to ensure quality. ACT Appraisal is dedicated to providing you with accurate, concise, and timely appraisal services nationwide.