Ownership of an appraisal management company

[Tom D]

No staff goes thru the board of directors who may meet every other month. There is a qualified office supervisor who makes the final decision, period. Big lenders have staff review appraisers and loan compliance attorney, you talk to them. The only thing a loan office cannot discuss with us, is the value. Oh wait, they can with a rov, my mistake. So much for hvcc.

 

[Zoe]

No staff goes thru the board of directors who may meet every other month. There is a qualified office supervisor who makes the final decision, period. Big lenders have staff review appraisers and loan compliance attorney, you talk to them. The only thing a loan office cannot discuss with us, is the value. Oh wait, they can with a rov, my mistake. So much for hvcc.

That is not true. There is a compliance officer and/or loan review officer that reports directly to the CEO and board of directors.

The loan review officer and/or compliance officer are over the staff appraisers.

The compliance officer and/or loan review officer report directly to the CEO or directly to the board of directors of the bank. That is where the separation occurs. The loan officer is more than welcome to communicate with the loan review officer or compliance officer and the appraiser.

Think about an ROV? The ROV happens inside the bank.

Trust me. I know.