""Graystone Mortgage"":www.graystonebankmortgage.com/ and ""Appraisal Logistic Solutions, Inc.,"":http://www.gotoals.com/ have announced the continuation of their standing partnership. Currently, Appraisal Logistics facilitates compliance and risk management for Graystone, ensuring the quality of its lending transactions.[IMAGE]
Appraisal Logistics specializes in compliance management for appraisal independence, and the company handles an estimated $250 million in loans for Graystone each year. The partnership between the two entities was initiated when Graystone, like all lenders, became subject to the appraiser independence standards contained within the Dodd-Frank Act.
Commenting on the next phase of the relationship between Graystone and Appraisal Logistics, Graystone's president, Bob Rader, said, ""The rules have changed. Today's lending environment demands the next level of service and expertise from any industry partner. We need an appraisal management company that can ensure 100 percent compliance while delivering quality appraisals.""
Rader went on to add, ""We evaluated numerous firms providing appraisal management services and ultimately partnered with Appraisal Logistics because they deliver the level of communication and industry expertise that we need to run an efficient, productive and successful mortgage lending operation. We leverage Appraisal Logistics' guidance daily, processing more than 100 orders a month on average.""
Echoing Rader's statements, Appraisal Logistics' CEO, Frank Danna, noted, ""Using a third-party appraisal management company allows a mortgage lender to outsource the risk of the entire process to better use their own internal resources. Lenders do not need to build an internal risk management department, affording cost savings that are not just on a per loan basis. We are proud to provide Graystone Mortgage with this essential industry service.""