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Appraiser Independence Policy

Lincoln Appraisal & Settlement Services is a licensed AMC in all states that have such licensing in accordance with the Dodd-Frank Act of 2010.  As such, Lincoln promotes and supports appraiser independence.  Our company’s philosophy is that by following all federal laws, state regulations and agency guidelines, we will continue to raise the standard for quality real estate valuations.   We maintain corporate policies and procedures to fulfill Appraiser Independence Requirements.

Our employees have been trained in the Appraiser Independence Requirements process and are educated to adhere to all federal laws, state laws and agency guidelines ensuring an independent appraisal.  Specifically, we abide by the Appraiser Independence Requirements of the Dodd Frank Act, The Interim Agency Rules of the Truth in Lending Act, Fannie Mae Appraiser Independence Guidelines, and enacted State AMC Legislation.

Lincoln prohibits communication between a lender’s loan production staff and the selected appraiser. This includes any communication which suggests value, loan amounts and comparables.   In addition, appraisers are prohibited from communicating or attempting to obtain a desired loan amount from the borrower, property owner, or any other party to the transaction.

Lincoln is an independent third party Appraisal Management Company. Lincoln Appraisal does not have any ownership affiliation with any lender.  Therefore, Lincoln and its selected appraisers do not have any financial interest in the transaction.

Lincoln has a systematic payment schedule that applies to all engaged appraisers.  This ensures that appraiser compensation does not in any way depend on the value arrived at in any appraisal.

Lincoln engages a large and talented network of dedicated, independent appraisers who share our philosophy of appraiser independence.  We verify that each appraiser is licensed or certified and in good standing in the State in which they provide appraisal services. Our appraiser selection  considers the following; competency to perform the order, appraiser’s approval status with a specific lender, appraiser availability, appraiser performance, turn time requirement, distance from the property, and current capacity. 

We believe it is our responsibility to continually engage and educate our client base in the practices of the Appraiser Independence Requirements.