Lincoln Appraisal and Settlement Services announces continued 100% Compliance with FHA Appraisal Guidelines.
Providence, RI - Lincoln Appraisal & Settlement Services has confirmed their industry leading commitment to building trust with their clients by announcing they will continue to be in full compliance with all FHA Appraisal guidelines. The new FHA Appraisal Requirements go into effect on January 1, 2010 and now prohibit FHA Lenders from accepting appraisals from FHA Roster Appraisers who are selected, retained or compensated by mortgage brokers or any member of a lender's staff who are compensated based on the successful completion of a loan.
As part of the notice from the Federal Housing Administration (FHA) announcing the new FHA requirements, the Federal Housing Administration (FHA) acknowledged continued existing Appraiser Independence requirements which are for the prevention of improper influences on Appraisers, as well as Appraiser Geographic Competency requirements which require the appropriate knowledge of the market area an Appraiser is working in. Lincoln Appraisal & Settlement Services' corporate compliance policies and procedures fulfill FHA guidelines and requirements as well as all Home Valuation Code of Conduct (HVCC) requirements.
As one of the country's leading Appraisal Management Companies, Lincoln Appraisal & Settlement Services use a large and talented network of dedicated independent appraisers who share their commitment to appraiser independence and 100% FHA & HVCC compliance.
George K. Demopulos, President and Chief Corporate Appraiser of Lincoln Appraisal & Settlement Services was adamant in his continued commitment to the compliance with the FHA and HVCC's principals and policies. "We will continue to utilize the guidelines put forth by the FHA and HVCC to provide independent, accurate, and high quality appraisals to our clients in a timely manner. We take this commitment very seriously and will continue to train and certify all of the employees of Lincoln Appraisal & Settlement Services on the HVCC process and FHA requirements."
Lincoln Appraisal & Settlement Services credits their long term success with clients like Citizens Bank to their commitment to their 5 Core Values — Attitude, Quality, Trust, Convenience, and Responsiveness. George Panichas, Chairman & CEO of Lincoln Appraisal & Settlement Services said, "We are sincerely appreciative of the fact Citizens Bank has given us the opportunity to serve them over the years. They are wonderful people to work with on a day to day basis. In addition, the Citizens Bank relationship has provided us with additional proof that our commitment to Lincoln Appraisal &anp; Settlement Service's 5 Core Values works. Our positive attitude and high quality work, coupled with our ability to offer convenience and provide the responsiveness our clients deserve, enable us to establish strong long-term relationships with our clients which are built on a high level of trust and respect."
About Lincoln Appraisal
Lincoln Appraisal & Settlement Services, a national Appraisal Management & Settlement Services Company founded in 1998 is fully FHA & HVCC compliant, and is a premier provider of a full suite of residential, commercial, and specialized appraisal, title, and closing services/products to the real estate industry. Their clients include some of the nation's largest lending institutions, mortgage brokers, investment banks, law firms, mortgage insurance, and mortgage servicing companies which include: Citizens Bank, TD Bank, Sovereign Bank, Mortgage Guaranty Insurance Corporation (MGIC), Crescent Mortgage, and JMAC Lending.
