This document contains testimonials from multiple clients praising AppraiserLoft for their customer service, timely communication, flexibility in meeting client needs, and quality of appraisals. Clients note improvements in delivery times, responsiveness to issues and corrections, and stable pricing nationally. The document also discusses AppraiserLoft's mission to deliver high quality appraisals and customer service while ensuring compliance.

2. “
“
We appreciate all
AppraiserLoft has done for us to
smooth out this new
process. It makes a difference
when a vendors seeks to understand
our business and constantly makes
changes to meet our needs.
Your process flexibility, timely
communication and drive to
understand us sets you apart from your
competition.
~ Matt Mallery, CMH Homes Inc.
Next Generation Financial Services, a
Division of 1st Mariner Bank (NGFS)
started using Appraiserloft several
months ago due to issues with delivery
time, appraisal quality and variations
of costs. With the technology platform
provided by Appraiserloft’s “Dashboard”
internet site, we found
an immediate
improvement in the levels of
communication providing more
responsive delivery times. When
dealing with corrections or issues of
quality control, again we find the
Appraiserloft system as much more
responsive both in time and
results. Capping off the service delivery
and quality control is their stable
pricing. We are now able to
effectively provide our
customers with realistic pricing
nationally, without individual pricing
spikes around the country. With all of
these items together NGFS has been
able to, again, successfully
maintain its Service Delivery
Standard to our customers.
~ Bob Shields, NGFS (First Mariner
Bank)
We found working with AppraiserLoft
an incredible experience
and we highly recommend their
services. Security One has tried
diligently for years to find the right
company that could understand
the difference between being a vendor
and being a partner. We have found
our partner and are excited to
share our testimonials with the whole
industry.
~ Dave Bancroft, Security One Lending
Along with recommending the
appraiser on this report, I just wanted
to give kudos to the support team we
have for First Omni—they have been of
particular help to me on my
appraisal orders through your
company. Great job ladies—glad
you’re on our team.
~ Avery Browder, First Omni
You guys have been
great. I have only used you 2
times but I look forward to future
business since you have been
very good on contacting my borrowers,
scheduling everything, and getting the
appraisals back in a timely manner.
Thanks again.. whoever I’m actually
speaking to.
~ Steve Coverdale, MLD Mortgage Inc.
dba, The MoneyStore
I have had several very difficult
appraisals, and my team has been
most helpful. They also listened
to my complaining, without complaint.
They are always helpful, offer
great customer service
and have great personalities. They are
an asset to your company.
~ Evelyn Salyer, First Omni

3. our mission
AppraiserLoft is a leading provider of comprehensive collateral valuation products targeted
towards the mortgage lending, servicing and insurance industries. Our mission is to deliver
a top quality appraisal product to our clients while providing Fanatical Customer Service,
true values, state-of-the-art technologies, customized data systems and the highest level of
integrity in the valuation industry.
Comfortable yet fashionable shoes to
walk the property.
Working hands to take notes, measure,
make calls, etc.
Welcoming smile to make your borrowers
feel at ease and to show confidence.
Professional and/or business casual
work attire.

4. team workappreciated
HELPFULthoroughSupport
Wonderfuldetailed
t e c h n o l o g y
Our state-of-the-art
technology and user
interface is the most
intuitive and sophisticated
in the appraisal
management business.
f a n a t i c a l
c u s t o m e r
s e r v i c e
AppraiserLoft is
committed to providing
our clients with
paramount customer
service. We guarantee
that when you call you will
speak with a live
team member every
time and will receive a
response to an online
inquiry inside of 30
minutes.
i n t e g r a t i o n
AppraiserLoft is a leader
in XML integration and
data parsing strategies.
Through XML data
parsing, we can build
custom appraisal
summary reports or
deliver pieces of your
appraisal to multiple
locations.
H V C C
c e r t i f i e d
AppraiserLoft is an
independent, third party
appraisal management
company and we are fully
compliant with all off the
policies and procedures
outlined within the
Home Valuation Code of
Conduct (HVCC).
appraiserloft
Subject Property:
1234
Testin
g way, San Diego
, CA 92127
Appraisal
Date:
Appraisal
Deliv
ery: The final appra
isal was delive
red via email on June
2, 2009, 4:37 PM CDT
The final appra
isal was delive
red via U.S. Posta
l Service on June
2, 2009
Appra
iserLoft is an indep
endent, third party
appra
isal mana
geme
nt comp
any and has created a uniqu
e proce
ss that
strictly adheres to the Home
Valua
tion Code
of Cond
uct (HVC
C). Appra
iserLoft has follow
ed the follow
ing policies and
proce
dures
on behalf of ___________________ on this assignmen
t:
Appra
iserLoft has selected, retain
ed, and will provide paym
ent of all comp
ensation to the appra
iser.
Appra
iserLoft ensures that all appra
isers
are licens
ed or certifi
ed in the applic
able state. All our appra
isers
are regularly cross
-chec
ked again
st the Appra
isal Subcommittee datab
ase for verific
ation
of
licens
ing/ce
rtifica
tion and discip
linary
action
.
Appra
iserLoft ensures in the development, reporting, result, and review of this appra
isal, the appra
iser has not
been
influe
nced
in any way.
Appra
iserLoft ensures the staff taske
d with selecting the appra
iser for this assignmen
t has been
well traine
d in
the area of real estate appra
isal and is indep
endent of any loan produ
ction
staff.
Appra
iserLoft has not provided any target or estim
ated value
to the appra
iser on the lende
r’s behalf.
Appra
iserLoft ensures the result of this appra
isal assignmen
t is comp
letely
indep
endent is not steered by
comp
ensation to the appra
iser.
In an effort
to help our clients remain HVCC
comp
liant, Appra
iserLoft has mech
anism
s in place
to report
anyone that violates HVCC
or these
policies and proce
dures
. Until the Indep
endent Valua
tion Prote
ction
Institu
te (IVPI) has been
created, if there
are any conce
rns regarding our appra
isal mana
geme
nt proce
ss,
pleas
e conta
ct the Appra
isal Institu
te.
appraiserloft
Subje
ct Prope
rty: 1234 Testin
g way, San Diego
, CA 92127
Appra
isal Date:Appra
isal Delivery: The final appraisal was delive
red via email
on June 2, 2009,
4:37 PM CDT
The final appraisal was delive
red via U.S. Postal Servic
e on June 2, 2009
Appra
iserLo
ft is an independen
t, third party appraisal management company and has create
d a unique process that
strictly
adheres to the Home
Valuation Code
of Conduct (HVCC). Appra
iserLo
ft has followed the following policie
s and
procedures
on behalf of _____
_____
_____
____ on this assign
ment:
Appra
iserLo
ft has select
ed, retained, and will provid
e payment of all compensation to the appraiser.
Appra
iserLo
ft ensures that all appraisers are licensed or certified in the applic
able state.
All our appraisers
are regula
rly cross-checked against the Appra
isal Subco
mmittee database for verification of
licensing/ce
rtification and disciplinary
action
.
Appra
iserLo
ft ensures in the development, report
ing, result, and review
of this appraisal, the appraiser has not
been influenced in any way.Appra
iserLo
ft ensures the staff tasked with select
ing the appraiser for this assign
ment has been well trained in
the area of real estate
appraisal and is independen
t of any loan production staff.
Appra
iserLo
ft has not provid
ed any target
or estimated value
to the appraiser on the lender’s behalf.
Appra
iserLo
ft ensures the result
of this appraisal assign
ment is completely
independen
t is not steere
d by
compensation to the appraiser.In an effort to help our clients
remain HVCC
compliant, Appra
iserLo
ft has mechanism
s in place
to report
anyon
e that violate
s HVCC
or these
policie
s and procedures. Until the Independen
t Valuation Protection
Institu
te (IVPI)
has been create
d, if there are any conce
rns regard
ing our appraisal management process,
please contact the Appra
isal Institu
te.

5. w a r r a n t y
AppraiserLoft protects the
Lender, Transferee, or
Assignee Lender against
an actual financial loss if
the warranted appraisal
report is ultimately
determined to be in
excess of the variance of
the value of the collateral.
table of contents
corporate overview 5-6
nationwide presence 6
product overview 7-10
customer service 11-12
professional compliance 13-14
quality assurance 14
technology 15-16
reverse mortgage specialization 17-18
customization 19-21
turn time report 22
HVCC compliance guidelines 23-24
FHA appraisal compliance 25-26
summary of warranted appraisal 27-28

6. Experience the difference.
We’re makin’ it happen
everyday!
becoming the
nation’s leader in appraisal management
viva le pajar de valuador
5

7. corporate overview
AppraiserLoft was founded in 2006 with a goal to become the nation’s leading
provider of residential real estate valuation services through an unparalleled level
of customer service and attention to detail.
AppraiserLoft offers a comprehensive range of residential appraisal products
providing our clients with the security and fraud prevention benefits of a traditional
appraisal management company, without the inefficiencies and quality control
problems that typically plague such organizations.
nationwide presence
AppraiserLoft provides a nationwide network of appraisers with coverage from the
largest cities to the smallest rural communities. We continually monitor our
nationwide presence and recruit the most qualified residential appraisers in
growing and under served market areas.
AppraiserLoft appraisers are state certified residential appraisers who have been
selected for their ability to provide the optimal balance of rapid turn around times,
high quality reports, and reasonable rates.
By staying in tune with national market trends, AppraiserLoft is able to assure our
clients that they are paying reasonable, market specific prices, while receiving top
quality appraisals in optimal time.
61. the state or fact of being present; current
existence or occurrence.
2. impressive personal appearance or bearing.
pres-ence (prez’ens)
corporate overview

8. product overview
uniform residential appraisal report (URAR) FNMA 1004
• The standard fannie mae summary appraisal report.
• Considers market value trends, supply and demand and marketing times.
• Provides indicated value by cost approach, where appropriate.
• Provides a sales comparison analysis grid with indicated value by sales
comparison approach.
• Quantitative adjustments to comparable sales.
• Estimates a specific market value.
exterior only inspection residential appraisal report FNMA
2055
• Summary appraisal report documentation including extensive property information.
• Provides quantitative adjustments to comparable sales.
• Estimates a specific value.
condo appraisal FNMA 1073
• Considers market value trends, supply and demand, and marketing times.
• Room count and actual square footage by GLA.
• Notes condition of improvements, depreciation, repairs needed, and quality of
construction.
• Project and phase information includes number of units, number of units for sale,
and number of units currently rented, enabling assessment for any location risk
within the complex.
ser-vice (sur’vis)
7

9. 1. an act of helpful activity; help; aid: to do someone a service.
2. the providing or a provider of appraisal accommodation and
activities required by the public, as maintenance, repair, etc.
exterior-only Inspection individual condominium unit
appraisal report 1075
• Designed to report an appraisal of unit in a condominium project or a condominium unit in a
planned unit development (PUD).
• Includes a visual inspection of the exterior areas of the subject property from at least the
street.
• Inspect and analyze the condominium project.
• Inspect the neighborhood.
• Inspect each of the comparable sales from at least the street.
• Estimates a specific market value.
8
product overview
prod-uct (prod’ekt)
1. commodities offered for sale.
2. an artifact that has been created by some-
one or some process.

10. multi-family appraisal FNMA 1025
• Small residential income property appraisal report for two-to-four family residences.
• Provides neighborhood, site, and improvement descriptions.
• Provides general description of subject’s physical structure.
• Notes condition of improvements, depreciation, repairs needed and quality of
construction.
• Includes an analysis of market rents, with rent comparables.
• Sales comparison, income including, and cost approaches are all considered in
estimating market value.
FHA appraisal
• Property inspected and report written by an FHA certified appraiser.
• URAR, multi-family, or duplex may apply.
• Considers market value trends, supply and demand, and marketing times.
• Provides a sales comparison analysis grid with indicated value by sales comparison
approach.
• Quantitative adjustments to comparable sales.
• Estimates a specific market value.
condition and marketability report FHLMC 2070
• Summary appraisal report that conforms to USPAP requirements.
• Reports general condition of the subject property and marketability factors.
• Reports current market conditions of the neighborhood.
• Option for upgrade path as adverse factors are observed.
• No estimate of market value.
val-ue (val’yoo)
9

11. property inspection report
FNMA 2075
• Exterior inspection of the subject property from the
street.
• Report consists of limited subject property and
marketability factors.
• No estimate of market value.
land appraisal report
• Estimates the market value of unimproved sales
suitable for residential development.
• Includes a signed appraiser’s certification.
plans/specs appraisal
• Used to determine estimated market value, new
construction, reviews plans and specifications.
• Provides general description of subject’s
exterior, foundation, basement, and insulation.
• Provides sales comparison analysis grid with
indicated value by sales comparison approach.
1. a principle, standard, or quality considered
worthwhile or desirable.
2. (values) a person’s principles or standards.
10

12. Fanatical customer
service is the bread and
butter of our business.
Top 5 reasons why we rock.
11
We build our business to promote Customer Loyalty.
We provide true customer service.
Our philosophy: “The customer is always right”.
We are honest with our customers.
We educate our staff to be equally as concerned about
your customers as you are.

13. 12
customer service
At the core of our customer service center is our tried-and-true call monitoring
system where each incoming call is automatically routed to the appropriate staff
member. Every corporate client has an account manager assigned to their account
and is available to assist the client by providing:
• Personalized service for the account.
• A fixed point of contact within AppraiserLoft from start to finish.
• Comprehensive information about products and services.
• Peace of mind knowing that any questions or problems are being handled by an
experienced professional.
• Contact and feedback from someone who is dedicated to making sure your
appraisals are done quickly and correctly.
• A live voice every time. You will never be routed to voicemail.
The AppraiserLoft system ensures a prompt answer to incoming calls and
guarantees a level of customer satisfaction unparalleled in the industry. We
respect our customer’s time and strive to fulfill their needs as effectively and
efficiently as possible.
Your success, our passion.
Your success, our passion.
Your success, our passion.
customer service
1. marked by excessive enthusiasm for and
intense devotion to a cause or idea.
fa-nat-i-cal (f -nat’i-k l)e e

14. When an appraisal management
company truly understands your business, it
does more than improve your results -
it improves your bottom line.
13

15. professional
compliance/QA
professional compliance
AppraiserLoft appraisers are professionally certified by the state in which the
property is located. Our customers can feel secure knowing that the
professional standards outlined by the Uniform Standards of Professional Appraisal
Practice (USPAP) and Financial Institutions Reform Recovery and Enforcement Act
(FIRREA) guidelines are always observed.
quality assurance
AppraiserLoft is committed to providing the highest quality residential valuation
services possible. Every appraisal we deliver passes through a checkpoint system
which confirms completeness and other basic quality control issues. We continually
monitor and adjust our processes in order to maximize the quality of our products
and the speed of their delivery. Some appraisal management companies use
automated review systems that attempt to analyze the data selection and value
conclusions of the appraiser. Experience has shown us that such systems are often
unreliable, and counterproductive. These automated quality evaluations tend to
reduce efficiency by flagging those issues that an experienced and competent real
estate appraiser would have already identified and addressed. AppraiserLoft
manages quality proactively by insisting on the best work from both staff and
appraisers. Instead of using automation, employing underpaid, or unqualified staff
to review every appraiser’s analysis, each report is professionally reviewed by our
in house review staff who hold the appraiser to the highest standards required by
them as certified professionals.
14
qual-i-ty (kwol-i-tee)
1. character with respect to fineness, or grade of
excellence.
2. producing or providing products or services
of high quality or merit.

16. Enhance productivity
for all employees
Reduce costs
Enhance collaboration
and communication
Recruit the most
talented minds
Attract new customers
Accessible from any
computer with Internet
capabilities
Scalable for companies of
all sizes
Tech
We lead the appraisal management
business with cutting edge technology.
Don’t miss out!
Knowledge

17. technology/security
technology
AppraiserLoft has the most sophisticated and intuitive user interface in the
appraisal management industry. AppraiserLoft customers can order, make payment
and track their appraisals directly from any web enabled computer. Our roots are as
a provider of cutting edge technological solutions to the residential
mortgage industry and our focus continues to be on the development and
deployment of technology to improve the efficiency and quality
of the appraisal process. As such, AppraiserLoft will continue to set
the industry standard for years to come.
security
AppraiserLoft meets or exceeds all security guidelines in place
for the real estate and mortgage industries. All transactions through
our web portal or XML/API are secured with industry standard
128 bit encrypted connections. Your transactions are viewable
only by your support team and only when they need access.
Additionally, each appraisal report is secured against any
unauthorized tampering before delivery to the client.
16
tech-nol-o-gy (tek-nol -je)e
1. the application of practical or mechanical
sciences to industry or commerce.
2. the scientific methods or devices used in a
particular field.

18. As a representative of AppraiserLoft, and by extension the lender, we require
our appraisers to take into consideration the unique expectations and support
levels that are essential when working with our seniors. Often times the
appraiser is one of the few, if not the only, personal interactions a senior will
have during their Reverse Mortgage loan closing process. For this reason, we
understand that it is essential for the appraiser to conduct their inspection
with the utmost care, respect and professionalism for our senior clients.
17
Obtaining a loan is a highly
sensitive process. It is our job
to ensure that this experience
is as pleasant as possible.

19. 18
reverse mortgage
specialization
1. having no like or equal;
unparalleled; incomparable.
u-nique (yoo-neek)
reverse mortgage specialization
We understand that senior clients are very special and deserve to be treated as such. Therefore, in accordance with our
clients’ expectations and requirements we ask that each member of our professional appraisal panel who chooses to be
qualified to perform Reverse Mortgage appraisals adhere to the following guidelines and expectations. These guidelines are
offered based on our significant experience working with Reverse Mortgage clients. It is our intention to make the appraisal
portion of the loan process run as smoothly as possible. We know that for many Reverse Mortgage borrowers, obtaining a loan
on their family home is a highly sensitive and unfamiliar process. It is our job, and by extension, the appraiser’s to ensure that
this experience is as pleasant as possible.
• Appraiser will contact the borrower promptly upon
receipt of the order, will mention the name of the
lender on whose behalf they are calling and be as
detailed as possible about the reason for their call.
• Appraiser will only call the borrower during
acceptable hours (before 7 p.m. local time) or
within specific time frames as set forth by the
lender upon initial order.
• Appraiser will arrive on time for all
inspections – In case of any delay, the
appraiser must contact the borrower
immediately to reschedule or manage expectations.
• Appraiser will refer the borrower to their
lender for any specific questions related to
pricing, the loan terms or the process.
• Appraiser will adhere to all FHA
guidelines and provide detailed explanations and
photos for any repair, deferred maintenance
concerns or cost to cure items.
• Appraiser will do their best to listen to the
borrower and provide a full explanation of their
inspection process and requirements.
• Appraiser will submit the final report to our
office within 48 hours of completion of the
inspection. If they are experiencing
delays for any reason, they are to advise
AppraiserLoft via phone or email so we may
advise the LO immediately.
• Appraiser should do their best to be aware of any
potential fraud issues or elderly abuse and
report them to AppraiserLoft immediately.
• Appraiser will dress professionally.
• Appraiser will use appropriate language when
addressing the borrower. The use of foul language for
any reason is not tolerated.
• Appraiser will not smoke on or near the
borrower’s property.

20. AppraiserLoft Customization Options Include:
• Process and workflow customization
• Quality control review and compliance customization
• XML appraisal data parsing and customized delivery
• Appraisal platform LOS integration and customization
• Billing and pricing customization
• Support team and process customization
• Quick integration process utilizing MISMO standard specifications
Regardless of your specific requirements, AppraiserLoft will work to
build a custom package that best suits your business model. As an
AppraiserLoft client, you are given the keys to unlock the doors of your
valuation imagination. If it can be done, we will make it happen.
Our ability to listen to our clients and to design and implement solutions
makes AppraiserLoft a valuable business partner. We strive to be
more than just a vendor we want our team to be an extension of your
production staff.
AppraiserLoft knows that every client is different and each one has unique
underwriting guidelines, as well as workflow and process requirements
that are created to meet their specific needs. We realize that building a
uniform approach to your valuation needs isn’t always the best path toward
improving your daily workflow. With that in mind, AppraiserLoft places
significant focus on customizing our process, platform and support teams to
meet your specific needs.
19

21. customization
process and workflow customization
AppraiserLoft shapes our internal workflow around
the specific needs of each client. Our clients vary
greatly in size, available technology, product focus
and process requirements. As a true valuation partner,
we must be flexible in how we receive, manage and
deliver appraisal orders. In the end, our goal is to
make your production run as smoothly and efficiently
as possible.
Process and Workflow Customization
Options Include:
• Order acceptance through XML, fax, phone, email
or through our award winning web-based appraisal
management portal
• Tracking and management tiers which allow for
varying degrees of access to your appraisal files
• Multiple appraisal delivery options such as direct
email via our appraisal portal or direct delivery into
your LOS through XML integration
• MISMO standard integration process ensures
minimal start up delays
quality control review and
compliance customization
Quality control and regulatory compliance are a top
concern of most lenders. AppraiserLoft takes these
concerns very seriously. In an effort to address this
need, we offer customized quality control review for
each appraisal.
Through consultation and discussion, AppraiserLoft
will determine your list of QC and compliance
requirements. Your specific QC items become
an automated review checklist that is applied to
each order prior to delivery. This way, we can
further ensure that the appraisal you receive does
not need to go back to the appraiser for simple
corrections or adjustments.
Quality Control Review and Compliance
Customization includes:
• Creation of custom QC requirements
• Assignment of custom requirements in
automated review system
• Automated review of each custom QC or
compliance item prior to delivery of appraisal
• Manual review of QC and compliance
requirements
billing and pricing customization
AppraiserLoft understands that not all transactions
are the same when it comes to method and timing
of payment. In order to meet those varying needs,
our system allows for multiple payment and billing
options.
Whether our clients prefer to require payment up
front or at closing, our system can accommodate
all options on a transactional or standard practice
basis.
customization
1. A metalanguage that allows one to design
a markup language, used to allow for the
easy interchange of documents on the
World Wide Web.
XML (eks’em-el)
20

22. Billing and Pricing Customization
Options Include:
• Credit card payment prior to order
commencement
• Credit card payment via the
AppraiserLoft portal
• Credit card and check by phone
• Net billing for pay at close
• Flat rate national pricing
• Regional pricing tiers
• Volume based flat rate pricing
support team and process
customization
Support is an essential component of
any successful real estate transaction.
When managing multiple appraisals on
a national scale, having solid support
who is aware of and built around your
specific needs, processes and practices
is extremely important.
AppraiserLoft provides each client with
a dedicated support team that is trained
and built around your specific practices
and preferences. This process removes
the need for repeated appraisal or
service corrections that come with most
AMC’s. AppraiserLoft ensures a smooth
transaction by customizing our support
team around your needs as a client
Support and Process
Customization Includes:
• Dedicated support teams
• Custom account requirements
training
• Customized workflow and client
interaction based on client
recommendations
• Custom reporting and appraisal
XML appraisal data
parsing and
customized delivery
AppraiserLoft is a leader in XML
integration and data parsing
strategies. Through XML data parsing,
we can build custom appraisal
summary reports or deliver pieces of
your appraisal to multiple locations.
Our system allows a client to order an
appraisal via a direct XML integration
then have the ability to design custom
reports or data repositories that are
powered by their own appraisal data.
XML Appraisal Data and
Customized Delivery Options
Include:
• Custom appraisal data parsing
• Custom appraisal summary report
creation
• Data delivery to multiple
destinations, products and
databases
• Zero development cost
appraisal platform LOS
integration
and customization
With the multitude of LOS systems on
the market, AppraiserLoft recognizes
that providing only one appraisal
management and ordering portal
would limit our client’s ability to easily
order appraisals through their
preferred system. Clearly, it is in the
best interest of our clients that we
provide a path toward ordering and
receiving appraisals directly to and
from their LOS.
AppraiserLoft places a priority
on direct and custom integration
whenever possible. Regardless of
your LOS, we will work to make
ordering and receiving appraisals
a seamless process. Our team of
developers and integration specialists
has the skill, integration experience
and desire to make any custom
integration a reality.
Appraisal Platform LOS Integration
and Customization Options Include:
• Direct integration to any existing
pre-built LOS system
• Direct integration into any
proprietary LOS system
• Custom XML ordering and delivery
• Zero development charge
21

23. turn time report
daysfromorder
toacceptance
avg.days
tocomplete
order
daysfromorder
toacceptance
avg.days
tocomplete
order
statestate
22
Alabama 0.34 4.02
Alaska 0.88 5.57
Arizona 0.09 3.5
Arkansas 0.46 4.25
California 0.11 4.65
Colorado 0.38 4.94
Connecticut 0.02 5.56
Delaware 0.04 3.06
District of Columbia 0.12 3.3
Florida 0.09 6.06
Georgia 0.14 5.37
Hawaii 0.36 6.62
Idaho 0.28 3.46
Illinois 0.12 4.17
Indiana 0.22 2.34
Iowa 0.44 4.48
Kansas 0.25 5.48
Kentucky 0.29 3.35
Louisiana 0.39 3.97
Maine 0.33 4.3
Maryland 0.05 4.13
Massachusetts 0.07 3.44
Michigan 0.13 3.66
Minnesota 0.32 3.48
Mississippi 0.31 4.94
Missouri 0.14 3.51
Montana 0.14 8.08
Nebraska 0.26 5.33
Nevada 0.24 5.12
New Hampshire 0.42 4.29
New Jersey 0.15 5.07
New Mexico 0.07 3.82
New York 0.14 4.76
North Carolina 0.12 4.28
North Dakota 0.12 4.88
Ohio 0.42 7.03
Oklahoma 0.09 4.26
Oregon 0.31 3.83
Pennsylvania 0.25 5.79
Rhode Island 0.04 7.24
South Carolina 0.19 4.08
South Dakota 0.19 4.42
Tennessee 0.16 4.98
Texas 0.56 4.59
Utah 0.15 3.83
Vermont 0.75 5.92
Virginia 0.15 4.84
Washington 0.08 3.96
West Virginia 0.04 4.68
Wisconsin 0.36 3.71
Wyoming 0.02 4.06

24. appraiserloft
Subject Property:
Appraisal Date:
Appraisal Delivery:
AppraiserLoft is an independent, third party appraisal management company and has created a unique process that
strictly adheres to the Home Valuation Code of Conduct (HVCC). AppraiserLoft has followed the following policies and
procedures on behalf of ___________________ on this assignment:
AppraiserLoft has selected, retained, and will provide payment of all compensation to the appraiser.
AppraiserLoft ensures that all appraisers are licensed or certified in the applicable state. All our appraisers
are regularly cross-checked against the Appraisal Subcommittee database for verification of
licensing/certification and disciplinary action.
AppraiserLoft ensures in the development, reporting, result, and review of this appraisal, the appraiser has not
been influenced in any way.
AppraiserLoft ensures the staff tasked with selecting the appraiser for this assignment has been well trained in
the area of real estate appraisal and is independent of any loan production staff.
AppraiserLoft has not provided any target or estimated value to the appraiser on the lender’s behalf.
AppraiserLoft ensures the result of this appraisal assignment is completely independent is not steered by
compensation to the appraiser.
In an effort to help our clients remain HVCC compliant, AppraiserLoft has mechanisms in place to report
anyone that violates HVCC or these policies and procedures. Until the Independent Valuation Protection
Institute (IVPI) has been created, if there are any concerns regarding our appraisal management process,
please contact the Appraisal Institute.
Fraud Prevention: A certified copy of the original appraisal report provided by the appraiser is available
through the AppraiserLoft Secure Repository to all authorized individuals. Please contact AppraiserLoft to
access this information.
appraiserloft
Subject Property:Appraisal Date:Appraisal Delivery:
AppraiserLoft is an independent, third party appraisal management company and has created a unique process that
strictly adheres to the Home Valuation Code of Conduct (HVCC). AppraiserLoft has followed the following policies and
procedures on behalf of ___________________ on this assignment:
AppraiserLoft has selected, retained, and will provide payment of all compensation to the appraiser.
AppraiserLoft ensures that all appraisers are licensed or certified in the applicable state. All our appraisers
are regularly cross-checked against the Appraisal Subcommittee database for verification of
licensing/certification and disciplinary action.
AppraiserLoft ensures in the development, reporting, result, and review of this appraisal, the appraiser has not
been influenced in any way.AppraiserLoft ensures the staff tasked with selecting the appraiser for this assignment has been well trained in
the area of real estate appraisal and is independent of any loan production staff.
AppraiserLoft has not provided any target or estimated value to the appraiser on the lender’s behalf.
AppraiserLoft ensures the result of this appraisal assignment is completely independent is not steered by
compensation to the appraiser.In an effort to help our clients remain HVCC compliant, AppraiserLoft has mechanisms in place to report
anyone that violates HVCC or these policies and procedures. Until the Independent Valuation Protection
Institute (IVPI) has been created, if there are any concerns regarding our appraisal management process,
please contact the Appraisal Institute.
Fraud Prevention: A certified copy of the original appraisal report provided by the appraiser is available
through the AppraiserLoft Secure Repository to all authorized individuals. Please contact AppraiserLoft to
access this information.
HVCC compliance guidelines
appraiser independence safeguards
• AppraiserLoft ensures that all appraisers are licensed or
certified in the applicable state. All appraisers are
cross-checked daily with the Appraisal Subcommittee
database for active licensing and disciplinary actions.
• We ensure that the “development, reporting, result, or
review of an appraisal” is not influenced in any way.
appraiser engagement
• Per HVCC, AppraiserLoft will select, retain, and provide
payment for the appraiser. We will further ensure that
all members of the lender’s loan production staff will be
forbidden from:
• Selecting, retaining recommending, or influencing
the selection of any appraiser for a particular
assignment
• Having any communication with an appraiser
• AppraiserLoft will assist the lender in clearly demonstrating
that absolute lines of independence have been achieved
and the lender has prudent safeguards to isolate it’s
collateral valuation process from influence.
• AppraiserLoft ensures that all staff members tasked with
selecting appraisers for it’s approved panel are “trained
and qualified in the area of real estate appraisals” and
“independent of any loan production staff”.
HVCC certificate
AppraiserLoft is an independent, third party appraisal management company
that has reviewed the final version of the Home Valuation Code of Conduct
(HVCC) and has created written policies and procedures to ensure full
compliance with the Code. These policies and procedures will further ensure
that our clients are in compliance with HVCC as well.
23

25. 24
borrower receipt of appraisal
• Per HVCC, we ensure that the lender provides
a copy of the appraisal to the borrower, free of
charge and immediately upon completion, or in any
event no less than three days prior to the closing of
the loan.
prevention of improper influences
on appraiser
• AppraiserLoft is an independent third party
appraisal management company and does not
have any ownership affiliation with any lender.
• AppraiserLoft will not provide “any estimated or
target value of the property or the loan amount
applied” to the appraiser on the lender’s behalf.
• AppraiserLoft ensures that compensation “does not
depend in any way on the value arrived at in any
appraisal”.
• AppraiserLoft has adopted policies and procedures
implementing the Code of Conduct. AppraiserLoft
also has mechanisms in place to report anyone
who violates these policies and procedures.
the independent valuation protection
institute (IVPI)
• AppraiserLoft will assist the lender in providing
information to borrowers about the IVPI and it’s
services.
• AppraiserLoft fully supports the creation and
regulation of the IVPI.
appraisal quality control testing
• AppraiserLoft will provide the lender with quality
control testing of a random selection of 10 percent
of its appraisal reports. A report will be provided to
the lender with “any adverse, negative, or irregular
findings of such quality control testing”.
referrals of appraisal
misconduct reports
• AppraiserLoft is aware that if any lender has
reasonable cause to believe an appraiser or
appraisal management company is violating
applicable laws, the lender will refer the matter
to the appropriate authorities.
representations and warranties
• AppraiserLoft will ensure the lender is in full
compliance of the HVCC and the lender can
certify, warrant, and represent that the appraisal
report was obtained in a compliant manner
according to the Code of Conduct.
scope of code
AppraiserLoft is aware that nothing in this Code
of Conduct shall be construed to establish new
requirements or obligations that:
• Require a lender to use a particular method for
property valuation.
• Affect the acceptable scope of work for an
appraiser for a particular assignment.
• Require the lender or third party to take any
action prohibited by law.
HVCC Compliance
Guidelines
1. the extent of the area or subject
matter that something deals
with or to which it is relevant.
scope (skop)

26. FHA appraisal
compliance
certified FHA appraisers
• AppraiserLoft ensures that all appraisals completed on
or after October 1, 2009 for FHA-insured mortgages are
completed by certified residential or certified general
appraisers who are on the FHA Roster for the state in
which the property is located and are in good standing
within FHA Connection.
appraiser independence
• Per Mortgagee Letter 2009-28, we ensure that
mortgage brokers and commission based lender staff
are prohibited from the appraisal process with our
Appraisal Firewall.
• All selected FHA Roster appraisers will be
independently selected, retained and compensated
without any influence by a mortgage broker or any
member of a lender’s staff who is compensated on a
commission basis.
appraiser and management
compensation
• AppraiserLoft will allow all FHA Roster appraisers to
record the fee paid for performance of the appraisal in
the appraisal report.
• AppraiserLoft will compensate all FHA Roster
appraisers for appraisal services performed at a rate
that is customary and reasonable in the market area of
the property being appraised.
• Itemized on the invoice provided by AppraiserLoft
will be the fee paid to the FHA Roster appraiser and
a separate management and processing fee for
AppraiserLoft’s services.
• AppraiserLoft ensures all fees charged for services will
be strictly related to ordering, processing, and reviewing
of appraisals performed for FHA financing.
• AppraiserLoft service fees will not exceed what is
customary and reasonable for the market area.
prevention of improper influences on
appraisers
• AppraiserLoft ensures that no mortgage broker or
member of the lender’s production staff compensated
by commission shall have substantive communications
with an appraiser relating to or having an impact on
valuation, including ordering or managing an appraisal
assignment.
AppraiserLoft has reviewed HUD Mortgagee Letters 2008-39 and 2009-28
and has created and implemented written policies and procedures to comply.
Effective immediately, AppraiserLoft is in complete compliance with both
mortgagee letters. In addition, AppraiserLoft’s HUD Compliance Policies
will ensure that lenders are in compliance effective immediately.
25

27. 26
FHA compliance
• Withholding or threatening to withhold timely
payment or partial payment for an appraisal report.
• Withholding or threatening to withhold future busi-
ness from an appraiser, or demoting or terminating or
threatening to demote or terminate an appraiser.
• Expressly or implied promising future business,
promotions or increased compensation for an
appraiser.
• Conditioning the ordering of an appraisal report
or the payment of an appraisal fee or salary or
bonus on the opinion, conclusion or valuation to
be reached, or on a preliminary value estimate
requested from an appraiser.
• Requesting that an appraiser provide an estimated,
predetermined or desired valuation in an appraisal
report prior to the completion of the appraisal report,
or requesting that an appraiser provide estimated
values or comparable sales at any time prior to the
appraiser’s completion of an appraisal report.
• Providing to the appraiser an anticipated, estimated,
encouraged or desired value for a subject property
or a proposed or target amount to be loaned to the
borrower, except that a copy of the sales contract for
purchase must be provided.
• Providing to the appraiser, appraisal company,
appraisal management company or any entity or
person related to the appraiser, appraisal company
or management company, stock or other financial or
non-financial benefits.
• Allowing the removal of an appraiser from a list of
qualified appraisers or the addition of an appraiser to
an exclusionary list of qualified appraisers, used by
any entity, without prompt written notice to such
appraiser, which notice shall include written evidence
of the appraiser’s illegal conduct, a violation of the
Uniform Standards of Professional Appraisal Practice
(USPAP) or state licensing standards, improper or
unprofessional behavior or other substantive reason
for removal.
• Ordering, obtaining, using, or paying for a second or
subsequent appraisal or automated valuation model
(AVM) in connection with a mortgage financing
transaction unless: (i) there is a reasonable basis to
believe that the initial appraisal was flawed or tainted
and such appraisal is clearly and appropriately
noted in the loan file, or (ii) unless such appraisal
or automated valuation model is done pursuant
to written, pre-established bona fide pre- or post-
funding appraisal review or quality control process
or underwriting guidelines, and so long as the lender
adheres to a policy of selecting the most reliable
appraisal, rather than the appraisal that states the
highest value; or
• Any other act or practice that impairs or attempts to
impair an appraiser’s independence, objectivity or
impartiality or violates law or regulation, including,
but not limited to: the Truth in Lending Act (TILA) and
Regulation Z and USPAP.
appraiserloft will further ensure prohibition of
the following per mortgagee letter 2009-28:
1. a series of actions, changes, or functions
bringing about a result.
2. to put through the steps of a prescribed
procedure.
proc-ess (pros’es)

28. AppraiserLoft has added a warranted
appraisal to its arsenal of products. This warranty is
a completely customizable solution that
protects each lender against actual financial loss.
27

29. 28
eligible loan guidelines:
• Loan Types: First Mortgage Purchase or Refinance Loans, Second Mortgages,
HELOCs
• Maximum Loan Amount up to 1.5M
• Minimum Borrower FICO credit score of 600
• LTV and CLTV not to exceed 100%
ineligible property types:
• Commercial Properties
• Residential properties of 5 units or more
• Properties located outside the U.S.
coverage period:
• The warranty coverage is available in terms of 3, 5, or 7 years.
reimbursement of actual financial loss:
• AppraiserLoft will insure that the Warranted Appraisal Report is within a 10%
variance as of the effective date of the appraisal.
• AppraiserLoft will cover the actual financial loss up to $100,000
claim process:
• Notify AppraiserLoft within 60 days of foreclosure or when Lender realizes fraud
has occurred and/or debt cannot be collected
• Provide proof of loss within 90 days
• AppraiserLoft will order a retrospective appraisal which will be reviewed by all
parties
• Payment shall be made in respect to the Claim for Damages within 30 days of
acceptance of proof
summary of warranted appraisal
warranty
1. official authorization, sanction, or warrant.
2. justification or valid grounds for an act or a
course of action.
warr-an-ty (wor’ n-te)e

30. notes:

31. “
My name is
Jennifer Dunn
and I have been dealing with two ladies
that work for AppraiserLoft at the help
desk. Their names are Jan and Pina. I
speak with both these ladies on a daily
basis, multiple times a day in fact. They
have been so helpful with ALL of my
appraisal drama. I always know when
they say that they will do something, they
follow through. They are fast and
always do a very thorough job.
In fact I look forward to talking to both of
them each and everyday!!!
~ Jennifer Dunn, Wealthbridge
I just wanted to send a letter of thanks to
the team at AppraiserLoft for all of their
help with this rather difficult situation. All
the representatives were friendly
and informative each time I
called for help. They worked their magic
to ensure that everything was completed
in time to close this loan and avoid a rate
lock extension. I really appreciate the
great service from AppraiserLoft,
thanks again!
~ Kristie Hall, First Omni
Just wanted say thank you and tell you
how much we in turn appreciate you. It is
rare to find a company that is
willing to mold their business
and processes around the way
we do business rather than force us to
mold to our process. Thank you all for
going the extra mile to make
a difference for us and create great
customer experiences. It is a
pleasure doing business together.
~ Matt Mallery, CMH Homes, Inc
Your support team seems to
understand what we are asking for
and really seems to push to get it done.
I would say this is one thing that sets
AppraiserLoft apart from the competitors.
Too often we find competitors arguing with
our requests, and seemingly trying to stop
our requests from reaching the appraiser.
Thanks for all you and your team do
for us, it is refreshing to have a AMC that
really seems to be on our side, and works
with us as a team. It is refreshing from
what we have had to deal with in the past.
~ Rancey Sparks, Vanderbilt Mortgage
and Finance, Inc.
“
our vision
From our inception to
our future growth and
development,
AppraiserLoft has been
on the vanguard in the
valuation landscape. Em-
powered by technology,
creativity and Fanatical
Customer Service, we
strive to remain on the
cutting edge of knowl-
edge, expertise and per-
formance in the appraisal
industry. Our commit-
ment to excellence, to
serve our clients and to
serve our industry as a
whole is founded by syn-
ergy amongst an organi-
zational and
management team with
conviction and integrity.
~ Aman Makkar
Founder CEO

32. www.appraiserloft.com | 877-229-7799 | San Diego, CA 92127
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