The Case for AMCs - A Valuation Company's Perspective

WALTHAM, Mass., June 30 /PRNewswire/ -- Much has been written regarding the
role of AMCs in the wake of HVCC, and their effect on the mortgage industry.
As a valuation company with over 30 years experience in appraisal management,
Pro-Teck Services would like to highlight the advantages of working with an
established AMC.

Long before HVCC, TARP and the credit meltdown, customers saw the value of an
independent review of appraisals. Some clients came to us to add fraud
protection criteria to their appraisals, others for a second set of eyes to
review information. What Pro-Teck was able to provide all of our clients was
the added level of quality and objectivity that AMCs are uniquely qualified to
deliver.

In today's market, along with providing a "firewall" between loan officers and
appraisers, your AMC should be adding quality to appraisals by:
-- Going beyond USPAP: Utilizing standardized qualifications and
guidelines
for all appraisals. These requirements often hold appraisers to a
higher standard because several clients' unique quality
requirements become the common denominator.
-- Level 1 review: Applying scripted rules and logic to validate data.
-- Level 2 review: Manually reviewing appraisals by experienced regional
review staff to address highlighted issues and guideline exceptions
identified in the automated review process.
-- Using a defined Quality Assurance process that rigorously assesses the
appraiser's valuation logic and methods.
-- Executing a review process that integrates market and demographic data
(assessor, sales, listings, listing history, market appreciation,
foreclosure ratios, short sales, flips, mapping, satellite/flyover
imagery and more), enabling AMCs to review appraiser data selection,
accuracy and logic with a comprehensive view of local market drivers.

AMCs have added benefits in the selection and management of appraisers,
including:
-- Complex scoring models quantifying quality, turn-times, responsiveness
and proximity to subject property in unbiased blind selection of the
most qualified appraiser. This selection process creates a
competitive
market that drives excellence.
-- Additional protection, including blanket Errors & Omissions
insurance, Auto and General liability policies and warranty programs
that protect lenders and their customers.
-- Independent and uniform verification of license, insurance and good
standing of all approved appraisers.

At Pro-Teck Valuation Services we also have an Appraisal Standards Board
overseen by our Chief Appraiser. The Board meets regularly to review
applicable legislation, regulatory requirements, and industry standards and
guidelines. The Board ensures that performance and quality standards protect
our clients and their customers by seeing that any changes are seamlessly
implemented and monitored across Pro-Teck's vendor panel and review staff.

No doubt, HVCC has put AMCs in the spotlight and spurred debate as to their
role and value. Unfortunately, much of what has been said is biased and
misinformed. An experienced AMC adds substantial value by providing
consistent high quality appraisals that are uniquely independent from the
influences and fraud that went unchecked in recent history.

About Pro-Teck Services:
Established in 1977, Pro-Teck Services works with lenders, servicers,
investors and insurance underwriters to improve risk management through
superior real estate collateral information. By focusing on quality, customer
service and technology, Pro-Teck Services enables its customers to make sound
valuation decisions.

Contact:
Domenica Puleo
781.314.1627
dpuleo@protk.com

SOURCE Pro-Teck Services

Domenica Puleo of Pro-Teck Services, +1-781-314-1627, dpuleo@protk.com