Numbers That Hold
Under Oath.

The Uniform Standards of Professional Appraisal Practice is the ethical and performance framework promulgated by the Appraisal Standards Board. For lenders, USPAP compliance is the gating requirement for GSE (Fannie Mae / Freddie Mac) delivery — a non-compliant appraisal is grounds for loan buyback. Our reports are prepared under the current edition (2024–2025) and include a signed Certification Statement as required by Standard 2. Every engagement letter defines the intended use, intended users, and scope of work upfront, eliminating the ambiguity that triggers post-funding disputes.

GSEs allow appraisal waivers and hybrid/desktop products for low-risk refinances with strong equity positions. However, any purchase transaction above conforming loan limits, any cash-out refinance on a non-owner-occupied property, and all commercial or income-producing properties require a full interior inspection. For litigation support — eminent domain, estate disputes, divorce — courts will reject exterior-only work product as insufficient foundation for expert testimony. Our engagement process identifies the correct scope before a single comp is pulled, protecting both the lender and the borrower from scope creep charges.

Partial-interest appraisals — fractional ownership, tenancy-in-common interests, minority LLC membership interests in real property — require a two-step analysis: first, value the fee simple interest of the underlying real estate; second, apply a marketability discount and, where applicable, a minority interest discount. We reference paired-sales analysis, published discount studies (Partnership Profiles, Stout Risius Ross data), and DCF modeling for income-producing assets. Our reports cite the specific discount methodology in the scope of work section and include a reconciliation narrative sufficient to withstand Daubert scrutiny in federal court.

The "Yellow Book" refers to the Uniform Appraisal Standards for Federal Land Acquisitions — the standard that governs appraisals for federal or federally-assisted acquisitions, including eminent domain, highway right-of-way, and federal land transactions. Yellow Book compliance requires adherence to both USPAP and the additional requirements in UASFLA, including a specific before-and-after methodology for partial takings, treatment of severance damages, and cost-to-cure analysis. Not all certified appraisers are Yellow Book-qualified; our team includes appraisers with documented Yellow Book experience and agency acceptance histories.

Beyond license verification through ASC's National Registry, AMCs should request a sample of the appraiser's last 10 completed reports and review: (1) acceptance rate by GSE / client, (2) revision request frequency and root cause, (3) average days from assignment acceptance to delivery, and (4) E&O coverage limits and claims history. Our panel application process provides all four data points upfront. We maintain a 96% on-time delivery rate across 400+ annual assignments and carry $2M per-occurrence E&O coverage — the threshold required by most Tier 1 AMCs.