ALL PRO APPRAISAL MANAGEMENT, INC., (“ALL PRO”, ‘the Company’) affirms its commitment to ensuring that all appraisal services performed in connection with federally related transactions and mortgage lending activities comply with the Uniform Standards of Professional Appraisal Practice (USPAP), as promulgated by the Appraisal Standards Board of The Appraisal Foundation, and as required by Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), the Dodd-Frank Act, and applicable state appraisal laws and regulations.
1. USPAP ADHERENCE
The Company requires that all appraisers engaged through its platform complete appraisal assignments in full conformance with the current edition of USPAP. This includes, without limitation, compliance with applicable Standards Rules governing real property appraisal, appraisal review, and reporting requirements.
2. LICENSED AND CERTIFIED APPRAISERS
The Company engages only state-licensed or state-certified appraisers, as appropriate to the assignment type and transaction value, consistent with the requirements of FIRREA Title XI and the regulations of the Appraisal Subcommittee (ASC). Appraiser credentials are verified at the time of panel acceptance and monitored on an ongoing basis through the ASC National Registry.
3. COMPETENCY AND GEOGRAPHIC QUALIFICATIONS
Consistent with USPAP’s Competency Rule, the Company assigns appraisers only to geographic areas and property types within their demonstrated scope of competence. Appraisers are required to disclose any lack of competency prior to accepting an assignment.
4. ETHICAL OBLIGATIONS
The Company supports and enforces the Ethics Rule under USPAP. Appraisers engaged by the Company are prohibited from accepting assignments in which they have a financial interest, a conflict of interest, or any other circumstance that could compromise the objectivity of the appraisal.
5. RECORD KEEPING
The Company maintains records of appraisal assignments in accordance with USPAP’s Record Keeping Rule and applicable federal and state requirements. Appraisers are similarly required to retain their workfiles for the periods prescribed under USPAP.
6. QUALITY CONTROL
The Company maintains a quality control program to review completed appraisal reports for USPAP compliance, completeness, and accuracy prior to delivery to the client. Any deficiencies identified are communicated to the appraiser in a manner consistent with AIR and USPAP appraisal review standards.
7. CONTINUING EDUCATION
The Company requires that all panel appraisers maintain current licensure and certification, including completion of the mandatory USPAP continuing education course (7-Hour National USPAP Update Course) as required by their state licensing authority.
Questions regarding this statement may be directed to:
Write to:
All Pro Appraisal Management, Inc.
Address: 3003 Purchase Street #137,
Purchase, NY 10577
E-mail: INFO@allproamc.com