TouchvelocityAMC | Appraisal Management Company

Nationwide - United States






I.  Supplier Recruitment and Coordination Standard

A.  Maintain and periodically review and update policies and procedures for recruiting and transitioning qualified certified and licensed appraisers to its appraiser panel. These policies and procedures include standards and guidelines for appraiser due diligence, minimum education, experience, licensure/certification, work sample review, background checks, fee and service level agreements, and references.

B.  Engage management personnel to periodically review vendor recruitment procedures to be sure that they are still relevant and are being followed; that recruiting personnel are trained on appropriate standards and guidelines, and that appraiser files are audited to ensure that the recruiting procedures are being used. Management should update recruiting guidelines based on audit results.

C.  Base hiring or engagement decision on the qualifications of the appraiser consistent with the our recruiting standards and guidelines and any additional criteria provided by the lender. While the appraiser fee may be considered, it is not be the exclusive factor.

D.  Monitor and document the performance of appraisal vendors over time. This monitoring ensure that measurements of characteristics, such as service levels, customer service, timeliness, and particularly quality, are fair and accurate.

E.  Ensure, prior to engaging an appraiser, that the appraiser is appropriately licensed or certified by the state and for the property type in which the appraiser will perform assignments.

F.  Recognize that licensing or certification is a minimum qualification for eligibility for an appraisal assignment and therefore does not base engagement of an appraiser solely on a valid appraiser license or certification. We also consider an appraiser’s experience, education, designation(s), proximity to and familiarity with the area(s) in which the appraiser proposes to complete appraisals, etc.

G.  Rely on the objective evaluation of past performance in determining the eligibility of an appraiser for an appraisal assignment. 

II.  Appraisal Order Assignment Standard

A.  Obtain an understanding of each appraiser’s competency in greater detail than licensure. Appraisers have different experience levels and understanding detailed competencies improves product quality. The types of competencies that TouchvelocityAMC track include complex properties, modular, multifamily, acreage, FHA, REO, Desk Reviews, and Field Reviews.

B.  Work is not assigned to appraisers who are not familiar with a market or not competent to complete the specific assignment.  Note: according to USPAP, it is the ultimate responsibility of the appraiser to only accept work that s/he is competent to complete. 

III.  Order Tracking and Workflow Management Standard

A.  After we assign an order, the appraiser is responsible for inspecting the property and completing the requested report. TouchvelocityAMC require status updates for each of the steps. Appraisers are expected to provide updates either verbally, through email, or a website on a regular basis and, if appraisers do not provide updates, TouchvelocityAMC has the right to contact the appraiser to request a status report.

B.  TouchvelocityAMC personnel continuously seek clarity in interacting with appraisers. Instructions and agreements are clear and specific as to expectations of quality, service, and cost.  Discussions with appraisers and any instructions and agreements are notated in an electronic system or paper file, whenever possible.

IV.  Pre and Post Delivery Quality Control Standard

A.  We implement and manage a quality control program to assess the work submitted by the appraiser panel.

B.  The appraiser is asked to confirm that the completed report meets all of the lender’s requirements as documented on the engagement letter.

C.  TouchvelocityAMC is entitled to maintain a list of approved appraisers as well as a list of disapproved appraisers. With this entitlement comes the responsibility for ethical and professional treatment of appraisers. TouchvelocityAMC only place appraisers on the disapproved list if TouchvelocityAMC determines and documents that the appraiser provided unacceptable products or service. Appraisers may also be disapproved by lenders, GSEs or other TouchvelocityAMC clients, and TouchvelocityAMC may be required to include those disapprovals on our list(s). As a general rule, TouchvelocityAMC does not include an appraiser on the disapproved list unless such action is based upon substantiated complaints or confirmed information and appropriately documented. 

V.  Appraisal Delivery Standard

A.  Once a completed report passes the quality control review, the appraisal as delivered by the appraiser is delivered to the lender in PDF format or other format as agreed to TouchvelocityAMC, the lender, and the appraiser. Typical delivery channels include website upload, portal upload, email or hardcopy.

VI.  Customer Service, Dispute Resolution, Client Pressure Standard

A.  TouchvelocityAMC provide lenders with a forum to request corrections, explanations, or resolution of value disputes through a managed, responsive, non-pressure based process.

B.  Value reconsideration requests should be managed through TouchvelocityAMC’s dispute resolution staff that are knowledgeable of appraisal requirements as well as sensitive to avoidance of undue influence.

C.  TouchvelocityAMC provide panel appraisers with access to a phone number and email address through which they can report undue influence by anyone in the appraisal process. This includes lenders, mortgage brokers, borrowers, appraisal management companies, Realtors, or builders. The following controls are recommended to ensure that no undue influence occurs in the process:

o Documentation of phone number and email address procedures

o Hotline phone number and email address activity log

o Documentation of action taken in response to complaints.

D. TouchvelocityAMC does not make any payment, threat or promise, directly or indirectly, to any appraiser for the purposes of influencing the independent judgment of the appraiser with respect to the value of the property.

E. TouchvelocityAMC have written policies in place that strictly prohibit anyone within TouchvelocityAMC, and any client of TouchvelocityAMC, from attempting to influence an appraiser with the goal of altering the outcome of an appraisal report.

F.  TouchvelocityAMC is clear about what internal sanctions parties applying inappropriate pressure will face.

G. TouchvelocityAMC provides a copy of our written appraiser independence policy along with independent contractor agreements that place a strong emphasis on the appraiser as an independent third-party.

H. TouchvelocityAMC developed channels which allow for the appropriate, non-pressured transmission of market data from other parties (builder, real estate agent, etc.) through TouchvelocityAMC and to the appraiser for consideration in the analysis.

I.  TouchvelocityAMC encourage appraisers to make reports of inappropriate contact on the part of  TouchvelocityAMC or the client of  TouchvelocityAMC to appropriate regulatory authorities.

J.  TouchvelocityAMC outlines what actions on the part of the appraiser may result in his or her removal from our panel.

o TouchvelocityAMC only utilize the dispute resolution process outlined as part of an agreement with an appraiser.

o TouchvelocityAMC attempts to resolve disputes with panel appraisers through an internal rather than public process.

o TouchvelocityAMC provides written notice to the appraiser who is the subject of possible removal from our panel.

o TouchvelocityAMC permits an appraiser who has been identified for possible removal from our panel to respond in writing. 

VII.  Product and Technology Development and Utilization Standard

A.  TouchvelocityAMC have policies and systems in place to ensure the confidentiality of the data that we receive from our client upon engagement for an appraisal assignment.

B.  TouchvelocityAMC require that appraisal reports are submitted in a secure format.

C.  Appraisals are TouchvelocityAMC core business, so investment in technological infrastructure and information security specifically suited for the appraisal process is among our primary concern.

VIII.  Sales, Marketing, and Administration Standard

A.  Emphasize to clients the benefits of having an appraisal that is performed by a qualified and competent appraiser.

B.  Accurately portray in print, online marketing materials, responses to requests for proposals, and all client communications the role of TouchvelocityAMC in the real estate mortgage finance settlement services industry.

C.  Educate clients that fees for services are based on intended use and users and the complexity of the property, and not on an appraisal form type.

D.  Appraisers should be paid fairly and promptly for work completed, provided the work meets USPAP and client specific guidelines and is compliant with state and federal law. The value opinion cannot be the basis for not paying an appraiser for an appraisal report.

E.  TouchvelocityAMC encourage innovation, productivity tools, and technology interfaces for appraisers and lenders to incorporate that allows for better communication, compliance, and efficiency. 

IV.  Training and Development Standard

A.  TouchvelocityAMC train their personnel on various state and federal laws, regulations, standards, and other documents that guide the real estate valuation process.

B.  TouchvelocityAMC is not responsible for the training or education of appraisers unless they are W-2 employees. However, we may provide such training if deem necessary. 


Touchvelocity's function is to manage the appraisal fulfillment process on behalf of Clients.  Our Standards of Quality Assurance in appraisal management outlines various operating and business practices to ensure that quality valuations are provided and in a timely manner.  These Standards relate to operational practices, panel management of qualified appraisers, quality control, workflow, regulatory compliance, and customer service, while remaining compliant with federal inter-agency guidance, the Dodd Frank Wall Street Reform and Consumer Protection Act, and other relevant federal and state statues and regulations.