US Appraisal Group Ranks No. 222 on the 2011 Inc. 500’s List of America’s Fastest-Growing Private Companies
Chicago, October 20, 2011 — US Appraisal Group, a national appraisal management company headquartered in Chicago, today announced its inclusion in the Inc. 500’s prestigious annual list of the fastest-growing private companies in the United States.
Despite the continued economic slump, US Appraisal Group ranked as the sixth fastest growing real estate company in the United States, and came in at number 222 overall on the list. Also featured as one of the fastest growing companies in Chicago, US Appraisal Group ranked ninth in the Chicago metro area, placing ahead of other successful Chicago-based companies including GrubHub.com and Rightpoint.
US Appraisal Group’s three-year sales growth was estimated at 1,432%, a result of “dedicated and creative teamwork, an empowered executive group, and a company vision committed to ensuring that our clients’ confidence in appraisal management is dramatically increased by working with us,” stated Jessica Edgerton, the company’s General Counsel.
“Over the past two years, US Appraisal Group has brought on a number of significant accounts,” stated Ms. Edgerton. “Our clients are often initially attracted to our company because we are exceptionally vigilant about maintaining the highest quality appraisal panel. They stay with us because our quality control is unmatched, and they know they will always get individualized attention from our team members. In addition, our services are continually refined and developed in order to ensure custom-built solutions for every new relationship we take on. Our inclusion on the Inc. 500 list is just another testament to our clients’ satisfaction. We’re very excited about the direction we’re headed in.”
“Now, more than ever, we depend on Inc. 500/5000 companies to spur innovation, provide jobs, and drive the economy forward. Growth companies, not large corporations, are where the action is,” says Inc. magazine Editor Jane Berentson. Edgerton agrees. “We’re a national company in terms of our client base and our ability to take assignments in any state, but we’ve also managed to completely avoid the ‘big AMC’ feel. It takes guts, brains and heart to thrive in this economy, and I’m proud to say that US Appraisal Group has plenty of all three.”
CONTACT: Dione Spiteri, President
US Appraisal Group
200 South Wacker Dr. Ste. 3100
Chicago, IL 60606
dns@usappraisalgroup.com
US Appraisal Group has partnered with Encompass ®
US Appraisal Group has partnered with Encompass ® – the mortgage management solution deployed by over half of the nation’s top 250 brokerages – and that as a result of this partnership, placing an appraisal order with US Appraisal Group, Inc. is faster, easier and more secure than ever before. If you use Encompass, ordering appraisals will now take just seconds and won’t cost you anything. The order data will come directly from your loan file so you will save the hassle of re-typing and faxing. When the report is finished, we send the report back into your loan file so your electronic file stays complete. You can even attach documents with your order. Here’s how it works:
1. When you are ready to order an appraisal, click Order Appraisal in the Services tab of your Borrower Summary.
2. You’ll be taken to the Encompass Appraiser Directory. You will find US listed there in the All Appraisers section. You can easily add me to your personal list of contacts by selecting my name and clicking Add to My List.
3. Once you have chosen US Appraisal Group, Inc. in the list, click Order.
4. You’ll be taken to the Order Appraisal screen, which will be pre-populated with details from your loan file – no need to re-type! Add any additional details you wish and click Send Order.
5. Within seconds, we will view your order. Once your order is accepted, you will receive notification via email.
6. Once the order is complete, the report is sent directly to your loan file.
US Appraisal Group Delivers HVCC Compliant Services
US Appraisal Group announces full compliance with the Home Valuation Code of Conduct (HVCC) for all residential appraisal services. Mortgage origination clients using US Appraisal Group are guaranteed compliance by May 1st with the following:
1. US Appraisal Group has written Policies and Procedures for HVCC.
2. Each report subject to the Code includes a Certificate of Compliance.
3. All orders are placed through a secure platform which ensures no communication between the lender and appraisers.
4. No estimate of value is provided to the appraisers.
5. The lender is unaware of the appraiser’s identity until the time of delivery.
6. Appraiser selection is performed at the sole discretion of US Appraisal Group and is based on performance metrics and geographical competency.
US Appraisal Group has extensively trained all staff to ensure HVCC compliance and is continually monitoring the licensing and the quality of appraisers, panel management and systems. Advanced technology is used to place orders and maintain security and data privacy standards.
All appraisals ordered through US Appraisal Group will certify that the appraisal report was ordered, assigned, processed, reviewed and completed in accordance with independent appraisal safeguards to prevent improper influences on appraisers in full compliance with HVCC. The certificate of compliance is provided with the appraisal report and included in the loan file.
For more information regarding HVCC compliance and US Appraisal Group, please contact Dione Spiteri at dns@usappraisalgroup.com.
About US Appraisal Group, Inc.: Established in 2003, US Appraisal Group is an appraisal solutions firm that works with the best real estate appraisers worldwide for commercial and residential client needs. Each client receives a complimentary analysis to determine the optimal way to handle their needs and a customized solution is built which helps clients be more efficient, save time and resources, and consolidate appraisal orders to one source. US Appraisal Group’s appraisers are the best in their respective markets and always produce quality reports that include sound analyses and well-documented reasoning. As a result, working with US has been known to dramatically increase public confidence in the appraisal profession.
Press Release
US Appraisal Group Integrates with Ellie Mae’s Encompass Mortgage Management Solution to Offer HVCC-Compliant Appraisal Services.
CHICAGO, IL—US Appraisal Group, Inc., a leading provider of residential and commercial real estate appraisals and valuation products, AVMs, and BPOs, has integrated with Ellie Mae‘s Encompass Mortgage Management Solution, which utilizes ePASS technology to deliver HVCC-Compliant Appraisals to mortgage origination clients. By integrating with Encompass and participating in Ellie Mae’s Encompass Appraiser Directory, US Appraisal Group is providing its clients that use Encompass a way to fully comply with the Home Valuation Code of Conduct (HVCC) that goes into effect on May 1, 2009.
The Home Valuation Code of Conduct was established by Fannie Mae, Freddie Mac and the Federal Housing Finance Agency (formerly OFHEO). In short, the HVCC sets forth a series of guidelines that govern appraisal-related activity among mortgage companies for loans that are sold to Fannie Mae and Freddie Mac, in an effort to reduce the risks associated with the appraisal process. Most of the HVCC’s stipulations are focused around ensuring objectivity in ordering real estate appraisals by brokers and correspondent lenders. Fannie Mae and Freddie Mac will not accept loans on or after May 1, 2009 that do not adhere to the Home Valuation Code of Conduct.
“The new Home Valuation Code of Conduct regulations which go into effect on May 1, 2009, require mortgage origination firms to ensure appraiser independence in the appraisal ordering process,” says US Appraisal Group’s Director, Dione N Spiteri. “Following May 1, any originators without compliant systems in place will be unable to sell loans to Fannie Mae or Freddie Mac.”
Ellie Mae’s network of Encompass users includes mortgage banker, broker and lender clients, who together originate more than 50 percent of the nation’s third-party origination loan volume, and 25 percent of the nation’s mortgages each year.
About US Appraisal Group, Inc.
US Appraisal Group is a leading provider of residential and commercial real estate appraisals and valuation products, AVMs, and BPOs software and services for the mortgage industry and non-lenders, offering customized appraisal solutions built with seamless technology. The company’s key offerings include commercial appraisal management, residential appraisal management, panel management, appraisal reviews, authorized resell of AVM products, and evaluation services. US Appraisal Group was founded in 2003 and is based in Chicago, Illinois. To learn more about US Appraisal Group, visit www.usappraisalgroup.com or call 888-580-USAG.
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© 2009 US Appraisal Group, Inc. All rights reserved. Ellie Mae, Encompass, and ePASS (patent No. 7,444,302) are registered trademarks of Ellie Mae, Inc., in the United States.
PRESS CONTACT:
Linda Higgins
Director, Public Relations
(888) 580-USAG
pr@usappraisalgroup.com
US Appraisal Group Offers HVCC Compliant Appraisal Services
Chicago-based Real Estate Appraisal Company Poised to Increase Public Confidence in the Appraisal Profession
CHICAGO, IL (May 2009) – US Appraisal Group, Inc., a leading provider of residential and commercial real estate appraisals, valuation products, AVMs, and BPOs, announces full compliance with the Home Valuation Code of Conduct (HVCC) for all residential appraisal services. US Appraisal Group currently delivers HVCC-Compliant Appraisals to mortgage origination firms nationwide. The Home Valuation Code of Conduct was established by Fannie Mae, Freddie Mac and the Federal Housing Finance Agency (formerly OFHEO). The HVCC sets forth a series of guidelines that govern appraisal-related activity among mortgage companies for loans that are sold to Fannie Mae and Freddie Mac, in an effort to reduce the risks associated with the appraisal process. Most of the HVCC’s stipulations are focused around ensuring objectivity in ordering real estate appraisals by brokers and correspondent lenders. Beginning May 1, 2009 Fannie Mae and Freddie Mac will not accept loans that do not stringently adhere to the HVCC guidelines. “The new Home Valuation Code of Conduct regulations require mortgage origination firms to ensure appraiser independence in the appraisal ordering process,” says US Appraisal Group’s Director, Dione N Spiteri. “Mortgage brokers will no longer be able to communicate directly with appraisers, thus eliminating broker pressure to appraise properties at certain values. Following May 1, any originators without compliant systems in place will be unable to sell loans to Fannie Mae or Freddie Mac.” US Appraisal Group utilizes an online technology platform and acts as an intermediary between the appraiser and the origination firm. This ensures that there is no direct contact between the lender and the appraiser and the appraiser’s identity remains anonymous until the appraisal is complete. US Appraisal Group also makes sure that real estate appraisers are compensated at market rates and guarantees payment to appraisers, something that was historically withheld if the loan did not close. Appraisers are also able to receive more appraisal orders, discounts on business-related products, group healthcare, education, and access to technology. Mortgage origination firms benefit from working with a third party, such as US Appraisal Group, as they are able to order many types of appraisal products from one source, have quality assurances and warranties, and save time and money by managing a few vendor relationships instead of thousands of appraiser relationships. “This is one step in the right direction for the real estate industry”, Spiteri continues, “While some third-party management companies pretend to protect appraiser interest, many of them are owned by the lenders they represent, which has led to many legal battles and lawsuits filed by appraisers. The public should know that a handful of privately-owned management firms are really trying to right the wrongs that have been plaguing appraisers in recent years. Our vision is simple: to dramatically increase public confidence in the appraisal profession.” About US Appraisal Group, Inc. US Appraisal Group is a leading provider of residential and commercial real estate appraisals and valuation products, AVMs, and BPOs software and services for the mortgage industry and non-lenders, offering customized appraisal solutions built with seamless technology. The company’s key offerings include commercial appraisal management, residential appraisal management, panel management, appraisal reviews, authorized resell of AVM products, and evaluation services. US Appraisal Group was founded in 2003 and is based in Chicago, Illinois. To learn more about US Appraisal Group, visit www.usappraisalgroup.com or call 888-580-USAG.
© 2009 US Appraisal Group, Inc. All rights reserved.
