New West Consulting’s core business is comprised of providing commercial and residential property valuation services for commercial banks, credit unions, other direct lenders, mortgage bankers, appraisal management companies (AMC’s) and credit unions. These financial institutions operate within a stringent regulatory environment that includes regular scrutiny by oversight agencies.

Thus, for us, ensuring regulatory compliance is the building cornerstone for achieving client satisfaction. Other actions undertaken to win client approval, such quick turn-times, competitive fees, or accepting assignments located in remote markets, would not be effective if our appraisal reports fell short in the area of regulatory compliance.

Our lender-friendly appraisal formats have been designed from the “ground-up” to help ensure full compliance with the Uniform Standards of Professional Appraisal Practice (USPAP) and Federal banking regulations (FIRREA); including all applicable OCC/FDIC/NCUA regulations (Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and the National Credit Union Administration). Additionally, the CFPB (Consumer Financial Protection Bureau), interagency appraisal and evaluations guidelines,

The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) established the federal government’s rules and structure for the real estate appraisal industry. FIRREA was passed in response to the savings and loan crisis of the 1980s.

All of our appraisal reports also conform to the Appraisal Institute’s Code of Professional Ethics and Standards of Professional Appraisal Practice.