AppraiserLoft has announced it has achieved full compliance with Title/Appraisal Vendor Management Association's (TAVMA) ‘Standards of Good Practices in Appraisal Management.’ Released Jan. 6, 2010, TAVMA's standards join a composite of other appraisal management regulations set forth by the Federal Housing Administration and government-sponsored enterprises Fannie Mae and Freddie Mac.
AppraiserLoft has adopted guidelines that mirror TAVMA's standards, focusing on supplier recruitment and coordination, assignment of appraisals ordered, management of order tracking and workflow, quality control at all stages, appraisal delivery, customer service, product development, marketing, administration and training.
AppraiserLoft founder Aman Makkar, citing the wide scope and range of recent legislation and standards regarding appraisals, has also announced the creation of three new positions within the company. Bill Waltenbaugh has been named chief appraiser, Masad Baba has been named chief compliance officer, and Ernest Durbin has been dubbed chief knowledge officer.
"AppraiserLoft extends our full support to TAVMA's standards of good practice," comments Baba. "We are internally prepared and staffed to continue our commitment to delivering professional, unbiased appraisals which are in full compliance with all agency and government regulations and rules."