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AXIS Appraisal Management Solutions has announced the launch of Appraisal Quality Compliance (AQC) Report. AQC provides a reliable nationwide solution for independent appraisal review, including the stringent AMC review requirements required by the Texas Appraiser License and Certification Board.
“As GSE and lenders seek to reduce appraisal errors, it’s essential to have a robust independent appraisal quality and review program,” said Kim Perotti, EVP at AXIS. “AQC is a nationwide solution that provides a consistent review and grading process that exceeds the USPAP Standard 3 desk review requirements.”
AQC leverages AXIS proprietary workflow and forms of technology to enable reviewers to efficiently perform consistent and reliable appraisal reviews. At the start of an order, the appraisal data is extracted from the original appraisal and provided for analysis and review. Supplementary public records data is provided to ensure accuracy at every stage of the process. Lastly, as the reviewer assesses appraisal report violations and severity of, the system dynamically assists in recommending a consistent overall grade to the reviewer.
“In my experience, one of the biggest challenges that AMCs and lenders face is ensuring high-quality and consistent appraisal review,” said Todd Rasmussen, VP of sales for AXIS Appraisal Review Division. “AQC overcomes many of these challenges by developing reliable method for grading appraisals that provides an effective solution for targeting and identifying deficient appraisals.”
As part of its new Appraisal Review Division, AXIS leverages its panel of experienced appraisers to perform AQC Review Reports. Each reviewer is required to be licensed or certified in the state of the original appraisal as well as have access to local-market MLS and data sources. In an effort to fully support their panel with this process, AXIS Appraisal Management not only provides training, but also an additional in-house quality control review team to ensure reliable and consistent results.