MountainSeed Prepares for Appraisal Threshold Increase with New Evaluation Offering
ATLANTA, April 19, 2018 /PRNewswire-iReach/ -- MountainSeed, a leading national appraisal management company, prepares for the impending increase to commercial real estate appraisal thresholds by offering streamlined evaluations for high-value properties.
The FDIC recently approved the new appraisal threshold for commercial real estate properties to be raised from the $250,000 to the $500,000 mark. The FDIC's recent approval also increased the threshold from $400,000 to $500,000.
In accordance with the final approvals from the OCC and Federal Reserve, commercial real estate transactions exempted by the increased threshold will no longer require appraisals, but will instead be subject to an evaluation. The new proposal means that MountainSeed will now offer evaluations on properties that are higher in value to customers in a more timely fashion.
"Since evaluations are less detailed than appraisals, the increased limit will allow for fewer appraisals, and the end result will be a quicker process for our clients," said Rob McPherson, MountainSeed's Chief Appraiser. "We plan on staying two steps ahead of the possible change to ensure our clients remain confident in our partnership to deliver exceptional appraisal offerings."
MountainSeed announced its plan to proactively prepare for the change by offering clients a suite of commercial evaluation products. These offerings include:
- Ordering a commercial evaluation for a flat fee and short 15 day turn time
- All commercial evaluations completed by experienced appraisers
- Inspection and analysis conducted by an appraiser included in each evaluation
MountainSeed provides evaluations, appraisals, appraisal reviews, and environmentals, all in one integrated platform. Clients have the ability to integrate with their partners, and work with a trusted account manager. A unique claim to MountainSeed is their ability to integrate with multiple vendors, allowing nationwide appraisal management services for every U.S. market. This is a key contribution that no single provider can support.
"We give our clients choice, and choice is the key to success in today's economy," said Carl Streck, MountainSeed's CEO and Co-Founder. "Why settle for one vendor when you can have the best of all of them."
MountainSeed is known in the industry as a CRE expert since 65 percent of their business is from commercial appraisals, evaluations, and reviews. They are used daily by over 400 banks and credit unions and are a trusted resource for over 2,800 financial professionals across the United States.
About MountainSeed
MountainSeed ( http://www.MountainSeed.com) is a trusted residential and commercial appraisal management company helping over 400 banks and credit unions to improve and streamline their appraisal ordering, procurement, and review processes. They offer national appraiser coverage, as well as a dedicated team to ensure all of your appraisal reports are compliant with the latest regulations.
Media Contact: Melanie Wittenberg, MountainSeed, 404-736-6205, [email protected]
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