Forget What You Know About An AMC. We’re Different. We’re Better.
We are a wholly owned subsidiary of Peoples Bank in Newton, NC.
For the last 100 years, Peoples Bank has been a bedrock of stability and profitability in the North Carolina communities the bank serves.
Community Bank Real Estate Solutions has become a trusted provider of real estate valuations for federally-regulated mortgage lenders. We were founded by certified appraisers with a proven track record for reducing lenders’ time, workload and costs. The founders and day-to-day management continue to be certified appraisers.
We live and breathe compliance
We are 100% AIR (Appraiser Independence Regulation) and FHA compliant. We are also compliant with the standards of UAD, USPAP, FNMA and FHLMC, including the federal rules in the Truth-in-Lending Act (TILA) and Dodd-Frank Act. Based in North Carolina, we have a network of expert appraisers across the U.S. Our appraisers are all ethical, experienced, certified and are required to have (or to develop) an intimate knowledge of local valuations in the areas where they work. (NOTE: when performing a FNMA and FHLMC appraisal, we require our appraisers to have pre-existing geographic competency.)
Born from the upheavals in the real estate lending market
The impetus for forming Community Bank Real Estate Solutions was the changing regulatory environment that arose from the mortgage market crash of 2007/2008. That crash was deemed by regulatory oversight authorities, indeed even Congress itself, to have been caused, in large measure, by abuse of the independent appraisal process.
While the appraisal abuse was confined to a few egregious cases, the wide ranging regulatory changes were imposed on all lenders, particularly federally-insured financial institutions. Notwithstanding the already stringent rules of conduct contained in the Uniform Standards of Professional Appraisal Practice (USPAP), Congress went further and legislated additional standards. Those new standards were in the form of revisions to the Truth-in-Lending Act (TILA), codified in Section 129E and Section 1472 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. In the summer of 2011, Freddie Mac and Fannie Mae adopted additional standards, beyond USPAP.
Taken together, the new requirements represented rigorous new rules to insure the preservation of appraiser independence in cases where consumer credit transactions were secured by the consumer’s principal dwelling. Despite the pain of the new rules, our company fully sympathizes with the regulatory goals: to provide for the preparation and issuance of an accurate appraisal as the foundation of secured real estate lending.
Compliance with the new regulations imposes substantial challenges and legal risks for both financial institutions and appraisers. Lack of compliance can have serious consequence for a financial institution and the appraiser.
Providing independent, accurate and compliant property valuations
Into this market upheaval stepped Community Bank Real Estate Solutions (CBRES). We were founded to provide real estate lenders a way to obtain an accurate appraisal, one that would qualify under the new compliance rules, for a reasonable cost.
Our marketing plan concentrates on states east of the Mississippi plus Texas. However, we have solid relationships with appraisers and real estate lenders in many other states. We are increasing our service area every month. We would welcome your call to our office to discuss the scope and availability of our services in your area. Get our contact information.
Our value proposition
We offer lenders unparalleled value by providing:
- Appraiser selection in compliance with industry and federal compliance guidelines
- A truly independent valuation performed free from pressure
- Credentialed appraisers, who have geographic competency
- Reduced or eliminated need for in-house appraisers
- Reduced compliance and business risks arising from substandard valuations or non-compliant procedures
- A MARS automated appraisal review on request
- An internal technical review to evaluate compliance
- Payment to appraisers of reasonable and customary fees when work is completed
- A computerized management system to centralize appraisal procedures, compliance documentation and minimized “turn times”
- Attentive and authoritative management support to both clients and appraisers
- A conservative business plan to ensure each appraisal is produced in strict adherence to both industry and federal rules