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SAMCO Appraisal Management and You

There are primarily two reasons why a community lender, either a bank or credit union, is considering an appraisal management company, 1) reducing non-interest expenses to improve revenue efficiency, and 2) compliance with the new regulatory mortgage appraisal and evaluation regulations. SAMCO’s goal is to make the community lenders transition into these new compliance requirements with the Dodd-Frank Act, The Federal Reserve Interim Final Rule, the 2010 Interagency Appraisal and Evaluation Guidelines, HUD-FHA Mortgagee Letter 2009-28, and Fannie Mae and Freddie Mac Appraiser Independence Requirements (October 15, 2010) simple, easy, and most importantly, profitable!  

In the past few years there have been many regulatory changes, and of those changes, the community lenders collateral valuation program, has been mentioned specifically. Examination teams are themselves trying to keep up with all of the changes, and over time, will be requiring basically two options for compliance:

  • Order and review appraisals/evaluations through an appraisal management company (AMC) at the borrower’s expense.
  • Create, or continue an in-house appraisal/evaluation order management AND review department at the bank’s expense.

Following is a brief explanation of each of our website’s navigation titles.  Just go to the website navigation bar above to receive a much more detailed discussion for each of these topics.

What is Appraisal Management:

Appraisal Management in today’s world is 'Appraiser' Management, Order Management, USPAP Appraisal Review, and Accounting/Record Keeping.   

Who is SAMCO Appraisal Management Company:

SAMCO Appraisal Management Company does one thing, and we do it well, providing compliance with the new federal mortgage lending requirements for Community Banks through Appraisal Order Management and (most importantly) Appraisal Review, at NO COST to you, the Lender! 

New Laws and Regulatory Guidelines

There have been five major regulatory announcements in the past few years.  The commonality between all of them is not just the separation of the lending production staff from appraiser/evaluator approval, and appraisal/evaluation order management, but most importantly, the reviewing of the appraisal to ensure it is within USPAP, the required appraisal standards, and agency requirements. The Dodd-Frank Act, the Federal Reserves Interim Final Rule, Fannie Mae and Freddie Mac’s Selling Guide, and the 2010 Interagency Appraisal and Evaluation Guidelines are all provided here for you to read in their entireties. Provided also are excerpts of the ‘defining’ statements that affect you, the community lender.  

More SAMCO Information 

SAMCO works ONLY for community bankers, providing the complete service that a community bank needs; Consumer Lending Evaluations, Commercial/Agricultural appraisals and evaluations, as well as the typical Fannie/Freddie/FHLB residential appraisal.  

Client Testimonials

Everyone has those, but what you can do with SAMCO is directly contact our lender/clients and get the unvarnished truth about any of your questions or concerns.