Coester Appraisal Group a nationwide appraisal management company is stressing the urgency of mortgage lenders taking a proactive approach to adopting FHA appraisal compliance guidelines set to take effect Feb 15, 2010.
Online PR News – 14-February-2010 – – Gaithersburg, MD - February 12, 2010 -- The appraisal company which is known for it’s excellence service as well as commitment to appraisal quality with an 100% guaranteed appraisal is concerned the mortgage community is not prepared for the switch. Task Force Manager Jerry White was quoted as saying “we have been getting ready for the switch for several months, and we have proactively approached our clients and vendors about ensuring they are ready for the switch come Feb,15. We are trained and ready to deliver for our clients and the mortgage community as a whole. We have prepared by having every FHA Roster appraiser signed up with us as well as offered training on our convertible appraisal product and FHA platform”.
This news should come as a relief for the mortgage community as FHA commissioner Dave Stephens who originally hired Coesters’ operations manager Frank Novak into the business over 20 years ago has made it very clear that “Any lender who refuses to comply with FHA requirements will simply no longer enjoy the privilege of participating in FHA programs”. Stephens which has already sanctioned several mortgage lenders for non prudent lending practices is positioned to take on a similar stance when it comes to appraisal compliance. The time is now to get your appraisals in order and prepare for one of the biggest switches in the mortgage industry.
About Coester Appraisal Group:
Headquartered in Gaithersburg, Maryland, Coester Appraisal group has provided quality real estate appraisals since 1970. Clients that depend on Coester’s appraisals, BPO’s, AVM’s and property valuation tools include banks, credit unions, mortgage companies, hedge funds, attorneys and government agencies. Their experienced staff provides a quality valuation completed in a timely manner with a correct estimation of market value. Each appraisal is manually reviewed by a staff appraiser for quality and compliance with lender’s underwriter guidance and is certified HVCC and USPAP compliant. For more information about the company and its services, please visit their website at http://www.coesterappraisals.com.
Coester Appraisal Group
(888) 485 - 1999 ext 2