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ISO 9001:2015 Certification Has Positive Impact on Appraisal Logistics National AMC Business
Firm was among first in the financial services industry to meet this important standard
WASHINGTON, D.C. – August 23, 2016 – Appraisal Logistics, a leading provider of high quality, compliant appraisal management solutions for the residential mortgage industry, reported today that the important ISO 9001:2015 Certification the company earned in April has had a marked positive impact on the company’s growth. The certification for Quality Management Systems Standards was awarded by LRQA, a Lloyd’s Register Company. The new ISO 9001:2015 Certification replaces the firm’s original ISO 9001:2008 Certification, acquired in August, 2013.
“From the beginning, we have built this company on the ISO framework because it provides an objective measure of our ability to supply best-in-class appraisal compliance and management services through innovation, workmanship and continuous improvement,” said Frank Danna, CEO of Appraisal Logistics. “We have accomplished this through the formation and standardization of secure internal control procedures, thorough employee training programs and extensive third party policy reviews. The direct result has been our company growth and satisfied client base.”
ISO 9001:2015 is the internationally recognized quality management system (QMS) standard for organizations that seek to prove their ability to consistently provide products and services that meet the needs of their customers and applicable statutory and regulatory requirements with an objective to enhance customer satisfaction through process improvements and assurance of conformity. It provides a thorough, third-party review of the company’s business practices, policies, procedures and operations. The end result of a successful audit is a signed certification by the auditing body.
LRQA’s Business Assurance approach ensures both that the company it audits conforms to the standard, and that it has identified key risks and opportunities for improvement, a key requirement of the ISO 9001:2015 standard. Currently, the Interagency Regulators require lenders to audit their third party vendors (AMCs) biannually. ISO Certification gives financial institutions a method for verifying third party compliance.
“Our clients expect and deserve a highly reliable appraisal compliance and management solution,” Danna said. “This certification demonstrates that we have processes in place to minimize financial institution risk and help ensure that our services and processes will not only maintain these proven levels of excellence but also continue to improve over the long term. I am extremely proud of our team and their efforts, which have resulted in Appraisal Logistics being among the first in our industry to earn this certification, giving our clients a seal of approval that is much more stringent than even CFPB guidelines.”
LRQA has been at the forefront of standards development and a market leader in ISO 9001 certiﬁcation and training for more than 25 years. More than half of the world’s top 200 companies choose LRQA. LRQA assessors and technical specialists have some of the most extensive ISO 9001 experience in the world. Many are hand-selected to provide input into the work of the ISO technical committees and are able to provide first-hand insight into requirements of the standard and the standard’s logic.
About Appraisal Logistics
Annapolis, Md.-based Appraisal Logistics is a nationwide appraisal management company for the residential mortgage industry. With a team of industry experts and a nationwide network of highly qualified and trusted appraisers, Appraisal Logistics provides immediate and exceptional services to regional and community banks and standalone mortgage originators to ensure each appraisal is 100 percent compliant in a customized, customer-focused environment. The company also owns and maintains the secure proprietary communications platform – AIM-Port®. For more information, please visit http://www.gotoals.com or call (443) 949-7862.