BRENTWOOD, Tenn. – July 19, 2011 – Quality Mortgage Services (QMS), a provider of mortgage quality assurance and mortgage compliance solutions, announced today that its recently released ADDP appraisal quality control offering is capable of feeding appraiser performance history information, required under Dodd-Frank, to the company’s MARS mortgage loan QC system and its AMS appraisal management software.

“Federal regulators are very serious about ensuring the quality of the valuations our industry uses to make loans, and appraiser performance history is one way the government plans to oversee this process,” said Tommy A. Duncan, President of Quality Mortgage Services. “This, at first, appeared to be a significant burden to lenders and their Appraisal Management Company partners but is now made easy by our software.”

Given the scope of the work, the volume of business that many firms perform, and the new regulations, it is vital that quality control firms develop a means to rate the quality of valuations that are performed and then transmit that data in an automated fashion. Moreover, everyone performing appraisals needs to have a percentage of their work scrutinized through periodic, in-depth monitoring, regardless of the transaction’s size or complexity.

“But once that is done, there has to be an automated, secure way to deliver the performance rankings and that’s why we developed the MARS mortgage loan QC system and the AMS appraisal management software,” said Duncan. “The aim is to ensure compliance with regulations and ensure that collateral valuations are accurate and timely. That means retaining the best performers based on their past performance but that requires the infrastructure needed to collect and archive that data in a searchable, intuitive fashion.”

As loan underwriters, mortgage loan QC personnel, loan auditors, appraisers or AMC personnel submit appraisals through ADDP, the graded appraisals are added to a database that tracks the performance of each appraiser in the panel. That information is now available seamlessly to MARS and AMS. The resulting appraiser report card is a vital tool for lenders who maintain their own appraisal panels as this track record of performance supports the lender’s decisions on whether an appraiser is retained on the panel or released.

ADDP is also available to appraisers for a low, per-transaction fee, allowing them to know what their score will be before they deliver a report to the lender, giving them time to repair any defects in the report before it negatively impacts their performance history with the lender or AMC.

About Quality Mortgage Services

Quality Mortgage Services is a nationwide company providing mortgage compliance and quality control solutions for institutions ranging from the smallest mortgage operations to the nation’s largest mortgage lenders. The company tracks requirement changes and mortgage guidelines from Freddie Mac, Fannie Mae, FHA, and Rural Housing as well as state and federal regulators and then uses that information to empower the industry’s best staff of professional loan auditors. The company provides mortgage compliance reviews and audits, mortgage quality control audits, federal regulatory reviews and mortgage due diligence audits. In addition, the company offers the MARS/AMS mortgage quality control software suite and the ADDP appraisal management and quality control software. Find out more about the company on its website at http://www.qcmortgage.com.