Veteran Appraisal Management Services provides appraisal ordering, tracking, and compliance review services primarily in the northern Illinois, northwest Indiana, and southern Wisconsin markets.  The company was founded by experienced area appraisal professionals with extensive experience in managing large volumes of appraisal orders.  We were formed to provide the regulatory-desired layer of independence between the lending staffs of our clients and the appraisal process.

The Interagency Appraisal and Evaluation Guidelines issued jointly by the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) stated:

 “Because the appraisal and evaluation process is an integral component of the credit underwriting process, it should be isolated from influence by the institution's loan production process. An appraiser and an individual providing evaluation services should be independent of the loan and collection functions of the institution and have no interest, financial or otherwise, in the property or the transaction...”

The Home Valuation Code of Conduct (HVCC) recently adopted by Fannie Mae & Freddie Mac states:

“All members of the lender’s loan production staff, as well as any person (I) who is compensated on a commission basis upon the successful completion of a loan or (ii) who reports, ultimately, to any officer of the lender not independent of the loan production staff and process, shall be forbidden from (1) selecting, retaining, recommending, or influencing the selection of any appraiser for a particular appraisal assignment or for inclusion on a list or panel of appraisers approved to perform appraisals for the lender or forbidden from performing such work; and (2) having any substantive communications with an appraiser or appraisal management company relating to or having an impact on valuation, including ordering or managing an appraisal assignment...”

Appraisal management companies have been recognized and accepted by the regulatory agencies as providing this required layer of independence in the appraisal process.  Veteran Appraisal Management Services  is a local company that utilizes highly qualified, independent appraisers staying within their geographic areas of expertise and experience.  This provides for more reliable and accurate valuations as our appraisers are “neighborhood specialist”.  It also differentiates Veteran Appraisal Management Services from most other appraisal management companies that are national firms utilizing  appraisers covering very wide geographic areas with limited experience in the communities in which they are performing appraisals.