All Asset Classes
Lenders - SBA - HUD RCS
All Asset Classes
Lenders - SBA - HUD RCS
At ARC we develop and implement appraisal review policies, guidelines, and procedures in accordance with Interagency Guidelines found in the Dodd-Frank Act, FIRREA, and USPAP, alongside federal and state guidelines.
ARC manages all aspects of the valuation process from appraiser selection and engagement to appraisal review. This can include developing and maintaining an approved appraiser roster.
We can analyze existing loan portfolios for potential volatility and risks; recommend updated appraisals or evaluations based upon current market conditions. This can include desk reviews or field reviews of appraisals for existing loans.
ARC provides training to staff in USPAP, current appraisal theory, and appraisal review, as well as federal and state guidelines, keeping lenders up to date on changing regulatory requirements.
A third-party appraisal management service will enhance appraisal procedures and guidelines to ensure compliance with local, state and federal regulations.
ARC provides carefully reviewed, credible appraisal reports to support collateral assets which aid in reducing lender risk and exposure.
Lender staff are trained on our platform and kept informed on current industry information regarding appraisal guidelines which will lead to a better quality loan product, while at the same time reducing risk and exposure to the client.
ARC engages the most competent and qualified appraisers.
Performing reviews on narrative and form appraisal reports requires not only knowledge of OTB, FRC, OTS, OTC, FDIC, NCUA, FNMA, IRS, Regulation Z, and USPAP guidelines but also requires years of experience in the particular property type by a qualified appraiser. ARC has this experience providing business valuation review as well as machinery & equipment appraisal review.
Each of our services are supervised by a designated Member of the Appraisal Institute to ensure the highest quality reviewing and reporting in the industry. Our chief review appraiser also holds the following designations: FRICS, MAI, SRA, AI-GRS, CMEA, CCIM, CPM.
1. Local: We understand what is happening in markets and regions that can impact value.
2. Experience: Collectively we have or hold all recognized designations, but especially FRICS, MAI, SRA, and AI-GRS.
3. Size: We’re not so large we lose a sense of who our customers are and what they need.
4. Regulatory: As prior state licensing board members, we have an inside understanding of proposed changes to state laws, as well as access to education and networking not available to other companies.
5. Expectations: We exceed minimum standards because we’re not running an AMC mill. Our reviews are more in depth than the standard automated review or FIRREA checklist.
6. Service: We provide personalized service, we know our lenders and our appraisers and they know they can depend on being able to reach someone dedicated to their success.
7. Personal: Because we personally know the local appraisers, assignments are paired with the best appraiser for the job, instead of the lowest bidder.
Flat Fees for orders - No hidden fees - No Percentage Fees - Fees are Fully Disclosed - CFPB Requirement.
NO Fees are taken from appraisers - conforms with CFPB requirements.
Less scrutiny during regulatory Audits - We know what FDIC and OCC want.
Easy Access to our team. We are available for any questions, any time, unique situations, confirmations, critical financial requests, audits & all other last minute needs.
You will receive personalized service. Quality is a top priority for us.
We take the time to develop relationships with appraisers and the lenders.
Our knowledge is current and relevant. We receive the most up to date information about changes to federal and state laws, education and changes in the industry.
We provide clients with quick turn around. Our Team is Responsive.
We have the Most Prestigious Qualifications & Designations in the World.
Competitive Fees allow your loan officers to not only compete but utilizing ARC lowers your operational costs.
Please take a few hours to review the current edition of USPAP and the Interagency and Appraisal Guidelines, which were born out of Dodd-Frank, and went into effect on April 1, 2011.
This is over 600 pages of rules and regulations and are the minimum standards. When reviewing this material, please be aware that these are the Minimum Standards, just as utilizing the services of State Certified Appraisers is also the Minimum Standard.
By utilizing our services, you are achieving much more than a minimum standard. You will have an unbiased third-party firewall for your institution. You will have a group of reviewers that know how to select the best possible appraisers for your needs.
Finally, you will have the experience and education of appraisers that have gone far beyond the minimum standards, appraisers that have had thousands of hours of education, obtaining multiple designations over multi-decade careers.
At a minimum, a bank’s appraisal review policies and procedures should specify:
•the reviewer’s qualifications, including experience, education, training, and independence from the loan production function;
•the timing of reviews so that they are completed before credit decisions are made;
•the scope of the appraisal review, which will vary according to transaction type, risk, size, and;
•standards for documenting the review and communicating its findings, including processes for resolving inaccuracies, appraisal weaknesses, and ambiguities; rejecting appraisals; and referring potential fraudulent activity to the appropriate regulator.
According to the Federal Reserve “An institution’s appraisal and evaluation review function should be independent from the loan production process. Further, staff conducting the reviews should have the knowledge and expertise to assess compliance with the Federal Reserve’s appraisal regulations and guidelines.
Though all appraisals need to be reviewed for compliance with appraisal regulations, guidelines, and professional standards, the stringency of the review of a particular appraisal or evaluation should increase as loan size or the property complexity increases.”
“Internal reviews should determine whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality.”
By: Lynn Woosley in the Atlanta Fed’s Supervision and Regulation Department
Licensure in your service area
Qualifications of staff
Reputation with Clients and Appraisers
User Friendly Online Apps
Responsiveness of staff
Ability to customize a wide range of valuation services
At ARC, we have it ALL!
With over ten years’ experience in appraisal management, Angie is knowledgeable of federal and state appraisal guidelines and regulations, as well as standards of good practice with the Title/Appraisal Vendor Management Association. Angie has extensive knowledge of Title XIV of the Dodd-Frank Wall Street Reform and Protection Act as they pertain to independence requirements, reporting requirements, supervision of AMC’s, supervision of ASC, registration requirements, Evaluations, AVM’s and BPO’s. Angie is an Alabama Real Estate Appraisers Board Member 2013 to present She is the AREAB Finance Chair & AREAB Education Committee
Chris, a principle of ARC, has been in the real estate valuation industry since 1993. He has been a review appraiser and consulting with lenders for nearly 20 years, is well respected due to his real world approach to valuation issues lenders face. He was a member of the Alabama Real Estate Appraisers Licensing Board for six years, an active broker and CMBS mortgage banker. Chris also holds the CCIM and CPM Designations.
University of Virginia - B.S. in Finance in Real Estate - M.B.A.
Patrick has banking experience as Loan Officer, APCO Employees Credit Union Tasks included: Account growth and management, loan underwriting and approval, management of all paid mortgage accounts at $1 Billion financial institution. Since 2011 Patrick has been with ARC as Director of Review and Compliance.
Todd is one of the best reviewers in the industry. He began his appraisal career in 1998 and quickly moved into the review and compliance area. In 2017 he took on the Senior Review Appraiser position at ARC. Responsibilities include appraisal reviews of commercial and residential properties for ARC clients.
Dianne has been working with us for over 15 years in accounts payable and accounts receivable. She understands the mortgage lending and appraisal processes and is a great asset to our business and our clients.
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