Community banks can expect examiners to closely review their real estate appraisal and evaluation policies and procedures, as part of a larger examination of the banks’ overall real estate-related activities. To ensure that your bank is in compliance with the Interagency Guidelines, Integrity Valuation Management, LLC (IVM) can supervise and enhance your appraisal process in the following key ways: The guidelines stress that banks should have an independent appraisal and evaluation program. Utilizing a bank or lending institution’s approved appraiser list, IVM will ensure independence in the appraisal ordering process as well as a robust review.

Selection criteria and procedures to evaluate and monitor the ongoing performance of persons who perform appraisals or evaluations are also part of the guidelines. IVM will make certain that every appraisal is assigned to the appropriately qualified appraiser.

Once an appraisal is performed, IVM will see that it conforms to USPAP and the interagency guidelines.

IVM will make certain that the fee for the appraisal is in-line with the market and that the appraisal will be received in a timely manner and formally reviewed to ensure reasonable values.