Appraisal Compliance Checklist

Created by: [YOUR NAME]
Company: [YOUR COMPANY NAME]
Address: [YOUR COMPANY ADDRESS]

Overview:

This appraisal compliance checklist is structured into seven key sections to ensure thorough validation of the entire appraisal process. Each section addresses specific aspects crucial for compliance and accuracy in property appraisals. Here's a breakdown:

I. Initial Appraiser Qualifications

Validate that the appraiser holds a current, active license or certification.
Confirm that the appraiser's license type and status is appropriate for the specific assignment.
Ensure the appraiser is not on any exclusionary lists.

II. Appraisal Report Compliance

Review the appraisal report for completeness and accuracy.
Confirm that the appraisal report complies with Uniform Standards of Professional Appraisal Practice (USPAP).
Verify that the appraisal report matches the loan data.

III. Property Details Verification

Confirm that the property description matches that in the sales contract.
Validate the appraised value of the property.
Verify that the property use conforms to zoning requirements.

IV. Appraiser Independence

Confirm that the appraiser acted independently without any influence from the parties involved.
Ensure there was no communication between the appraiser and the borrower about the appraised value.

V. Post-Audit Compliance

Ensure post-delivery audit identified disputes have been resolved.
Confirm all necessary corrections have been made as required.

VI. Legal Compliance

Confirm adherence to local, state, and federal regulations governing appraisals.
Ensure compliance with appraisal standards such as USPAP (Uniform Standards of Professional Appraisal Practice).

VII. Documentation

Verify all necessary documents are completed accurately.
Ensure the appraisal report includes all required information, such as property details, valuation methods used, and the appraiser's qualifications.

[YOUR NAME]

Compliance Officer

Date: [DATE]