AMC Periodic Reviews
Many state regulators require AMCs to conduct periodic reviews of the work of their appraisers. Some states have very specific periodic review requirements, frequency, types of reviews, and other details, while other states provide little guidance. This can lead to considerable confusion.
Walitt Solutions can help.
Our compliance team can offer your AMC a variety of support services that help get your periodic reviews completed in compliance with state requirements.
If your AMC needs help with Periodic Reviews, check out these services.
We have studied each state’s laws, rules and statutes and compiled them all in an AMC Periodic Review Resource Guide. This guide can assist your AMC to define policies and procedures related to periodic reviews.
Each state summary page includes links to the state appraiser board website as well as current laws, statutes and rules. A copy of the text related to periodic reviews is included. We have also summarized the state guidelines and included any notes or observations.
You will receive an email with a link and password to a webpage where you can view, download, but not print the document.
We can meet with your team to help you design a custom periodic review policy for each licensed state. It will take into consideration state requirements, your staff appraisers, and other factors.
Our consultation package includes a free copy of the AMC Periodic Review Resource Guide, a 2-hour virtual meeting and creating a review questionnaire in your appraisal management system.
With tens of thousands of annual orders, choosing and scheduling periodic reviews can seem overwhelming. Our compliance team can create a strategic annual plan by applying your AMC policy and available staff appraisers to the list of all completed orders and develop a manageable monthly process.
At the end of our assessment, we will present your team with a state-by-state breakdown showing all completed orders and the number of periodic reviews that need to be performed. The spreadsheet also allows you to record and document each step of the periodic review process. This assembles the annual process in a concise summary document, useful for state, internal or client audits.
The assessment package includes everything mentioned above including a free copy of the AMC Periodic Review Resource Guide, the 2-hour virtual consultation meeting, creating a review questionnaire in your appraisal management system and a state-by-state workflow assessment.
Our full-service contract includes all the support services above, plus we coordinate with a team of qualified third-party certified appraiser(s) to complete the periodic reviews. This frees your staff to work on day-to-day tasks while ensuring full compliance with all state periodic review standards.
In addition to Walitt Solutions providing your team the planning and assessment above, your team will also have access to a password protected portal where you can monitor the progress of the reviews. Upon completion, you will receive a detailed summary sheet.
To assist your staff appraisers in expediting their periodic reviews in states your company chooses to use your staff appraisers, our experienced team can download the appraisal file onto a shared drive, complete the initial setup, collect initial data from the appraisal, and log the progress in your AMS. These preparation and data-gathering steps can save your staff considerable time and reduce expenses.
Preparation services can be added onto any of the above packages or ordered as a stand-alone service.
If you need help completing your USPAP Standard 3/4 reviewes, we have also contracted with a third-party appraiser team that can help. Please fill out the above contact form and we will forward the information to them.
Are you a small AMC? DISCOUNTS ARE AVAILABLE.
Walitt Solutions provides a wide variety of customized consulting, advice, guidance, training and support solutions for AMCs. Please email email@example.com for more information.
Walitt Solutions is not an appraisal management company and does not provide appraisal management services.