Lincoln Appraisal & Settlement Services Remains Committed to Being Fully Fannie Mae Compliant

Oct 26, 2010, 16:33 ET from Lincoln Appraisal & Settlement Services

PROVIDENCE, R.I., Oct. 26 /PRNewswire/ -- A national Appraisal Management Company (AMC) offering high-quality Appraisal Management and Settlement Services, Lincoln Appraisal & Settlement Services, declares its continued commitment to being 100% Fannie Mae compliant.

As of October 15, 2010, Fannie Mae has publicly replaced the Home Valuation Code of Conduct (HVCC) with new Appraiser Independence Guidelines. Lincoln Appraisal & Settlement Services is pleased to confirm their continued compliance with all aspects of the Appraiser Independence Requirements, ensuring appraiser independence in all business operations performed. Despite numerous changes in appraisal guidelines and tightening compliance rules; including state licensing requirements for Appraisal Management Companies (AMC's), Lincoln Appraisal & Settlement Services remains 100% dedicated to meeting the highest moral standards in the industry, and believes the replacement of the HVCC with the Appraiser Independence Requirements will continue to enhance public and government confidence in the appraisal process. Therefore; all appraisal reports obtained and delivered by Lincoln Appraisal & Settlement Services will be in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP), Fannie Mae, FHA, FIRREIA and all state guidelines as applicable.

Fannie Mae states that the Appraiser Independence Requirements maintain the spirit and intent of the HVCC and continue to provide important protections for mortgage investors, home buyers, and the housing market. As one of the country's leading Appraisal Management Companies, Lincoln Appraisal & Settlement Services also uses a large and talented network of dedicated independent appraisers who share in the philosophy of appraiser independence and Appraiser Independence compliance. Additionally, it is Lincoln Appraisal & Settlement Services' privilege to continually engage and educate their expansive client base in the practices of the Appraiser Independence Requirements. Fannie Mae also states that the revised requirements pose no significant changes to core principles of the HVCC and incorporate language to clarify questions that arose in the implementation of the HVCC.

President and Chief Corporate Appraiser of Lincoln Appraisal & Settlement Services, George Demopulos, RA, SRA, stated, "At Lincoln Appraisal & Settlement Services, we are fully committed to adhering to each and every guideline set forth by the Uniform Standards of Professional Appraisal Practice (USPAP). Our unwavering commitment to excellence is the driving force behind the high quality and accuracy of our valuations, reports, title and closing services."

About Lincoln Appraisal

Lincoln Appraisal & Settlement Services, a national Appraisal Management & Settlement Services Company founded in 1998 is fully FHA & Fannie Mae compliant, and is a premier provider of a full suite of residential, commercial, and specialized appraisal, title, and closing services/products to the real estate industry. Their clients include some of the nation's largest lending institutions, mortgage brokers, investment banks, law firms, mortgage insurance, and mortgage servicing companies which include: Urban Financial Group, Sovereign Bank, Mortgage Guaranty Insurance Corporation (MGIC), Crescent Mortgage, and Home State Bank.

SOURCE Lincoln Appraisal & Settlement Services