Appraisal practice in the US is regulated by the various states. The financial industry is the main consumer of real estate appraisal services or “valuations”. Other uses include portfolio management, tax planning, development and construction decision making and internal decision making. These reports, when the client institutions are FDIC insured, must be USPAP (Uniform Standards of Professional Appraisal Practices), but also FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act of 1989) compliant. All appraisals produced by certified and designated appraisers, whether for loan underwriting, tax or estate planning, portfolio management or internal reporting, must be USPAP compliant and conform to the standards set forth by the Appraisal Foundation, a non-profit organization authorized by Congress as the source for appraisal standards and appraiser qualifications.
Through Eric Cross, a designated member of the Appraisal Institute, DPMC Global can provide expedient and cost effective real estate valuation services. The reports conform to the high standards required by national and global banking institutions.