ELLIOT & Company Appraisers, a nationwide provider of appraisal services, has initiated Compliance Plus, a firewall program that provides lenders with an alternative method of complying with appraiser-independence mandates.
Clients of the Compliance Plus program follow a strict communications plan, the company says. ELLIOT maintains records, which can be used to document the integrity of the appraisal and the independence of the appraiser.
"Compliance Plus is a superior level of service, tailor-made for banks wishing to distance themselves from the issues of appraisal pressure and to be recognized as being in compliance with the Home Valuation Code of Conduct," says Carlyle Holt, ELLIOTT's director of client services.
SOURCE: ELLIOT & Company Appraisers