Coester Appraisal Group, a nationwide appraisal management company, has launched a repurchase guarantee that protects its clients against appraisal-based buybacks. Effective immediately, Coester Appraisal Group will guarantee all original appraisals it completes moving forward. The guarantee is applicable for any appraisal-based repurchase request as long as the loan is in good current standing and not in any stage of delinquency.
The Coester Appraisal Group guarantee offers three levels of protection. Should the lender receive an appraisal-based repurchase request that falls within the guarantee program’s specific parameters, Coester Appraisal Group will initiate and fulfill a formal rebuttal campaign to refute the repurchase request—completely free of charge to the lender. Coester will also cover the cost of any reviews, drive-by, secondary market appraisals or valuations needed to rebut the repurchase request. In doing so, Coester Appraisal Group extends an optional insurance coverage to protect the lender against any financial loss resulting from the sale of the repurchased loan, and will cover any difference between the loan amount and the subsequent
sales price, should one exist.
“Lenders have always been concerned about buybacks, and now with the Dodd-Frank bill, they have even more reason to be concerned,” said Brian Coester, CEO of Coester Appraisal Group. “More regulations mean more chances of violation. There are over 60 pages addressing appraisals in the Dodd-Frank bill. If lenders aren’t careful, they could be inadvertently putting themselves at buyback risk. Now more than ever, lenders need an appraisal company they can trust. At Coester, we’re confident that we’re that company—and we’re willing to prove it with our repurchase guarantee.”
Coester Appraisal Group’s repurchase guarantee is automatically applied to any original appraisal completed by Coester Appraisal Group after 6/1/2011 For more information on the guarantee, please visit www.CoesterAppraisals.com
About Coester Appraisal Group:
Coester Appraisal Group is a nationwide appraisal management company specializing in high quality appraisal reports that comply with all industry guidelines and regulations. The company is headquartered in Rockville, Maryland and was founded in 1970 as a local appraisal company.The company has since grown to a formidable force in the appraisal management segment, and has a qualified network certified appraisers in all 50 states. For more information please visit Coester Appraisal Group online at www.CoesterAppraisals.com.
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