VENDORAGREEMENTPACKAGE
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Insidethispackage,you’lllearnaboutallthewaysLandmarkNetwork,Inc.is
uniqueandwhatsetsusapartfromourcompetition.
landmarknetwork.com|888.272.1214
1. ABOUTLANDMARKNETWORK,INC.
2. APPRAISERAPPROVALREQUIREMENTS 3. APPRAISERSERVICELEVELEXPECTATIONS
4. AKNOWLEDGEMENT
5. APPRAISERDISCIPLINARYPROCESS
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1
AboutLandmarkNetwork,Inc.
Foundedin2007,LandmarkNetwork,Inc.(LANDMARKNETWORK)iscomprisedofagroupof
dedicatedindividualswhostrivetomeetandexceedtheneedsofourappraisers,lenders,and
borrowersallwhilemaintainingcompliancewithUSPAP,FHA,andGSErequirements.LANDMARK
NETWORKischangingthewayyouthinkaboutvaluationmanagementandwehaveworkedhard
tobecomeatopprovideroftheseservices.
Belowisashortlistofthingswedodifferentlyandthebenefitsweofferyouasavaluedclient.
TheLandmarkDifference
 Nationwide:Weservicemostofthe50states,PuertoRicoandtheVirgin
Islands.Ourhoursofoperationare6:00amto6:00pm(PST),Mondaythrough
Friday.Nomatterwhatyourquestion,therewillalwaysbeaknowledgeableteam
memberheretoassist.
 BorrowerCommunication:WhileotherAMCsleaveituptotheappraiserto
makecontactwiththeborrower,wepersonallytakethesteptocontactand
educatethemabouttheappraisalprocess.Additionally,weaddressanyconcern
theymayhavepriortotheinspection;therefore,resultinginabetterprepared
borrowerandlesschancesforunnecessarycostsrelatedtore‐inspections.
 GeoSelect:EveryLANDMARKNETWORKappraisalreportisdeliveredtoour
clientwithacertificateofGeographicCompetency,calledthe“GeoSelect
Certificate”.Thisensurestheappraiserassignedtothefileisknowledgeableand
competentintheirspecificmarketarea.
 QualityControl:Appraisalreportsaresubjecttobothanautomatedand
manualQCprocessbyourin‐houseQCstaff.Thereisnoautomatedsystemthat
canmatchtheexpertiseofourexperiencedqualitycontrolteamandwework
directlywithunderwriterstomaintaincurrentclient,FNMA,FHLMC,FHAand
investorrequirements.
 Payment:Wealwayspayourvendorsandwealwayspaywhatiscustomaryand
reasonableforthemarketarea.AtLANDMARKNETWORK,webelievethatyouget
whatyoupayfor.Theprovenresultdeliversabetterproductatahigherlevelof
service,whichiswhatwestrivefor.
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2
AppraisalApprovalRequirements
LandmarkplacesalargefocusonrecruitingandengagingCertifiedResidentialorCertified
Generalappraisers.Thisisnottosay,however,thatwedonotworkwithalicensed
appraiser.Foralllicensedappraiserswhowishtoworkwithus,youmustprovideuswith
aresumeshowingaminimumof5years’appraisalworkhistory.Withoutourappraisers,
ourbusinesswouldceasetoexistwhichiswhyourobjectiveisalwaystoprovideour
appraiserswithanunmatchedlevelofserviceandassistanceinordertoexpectthehighest
qualityappraisalreportpossible.
QualificationStandards
 Appraisermustholdacurrentstatelicenseorcertificationforrealestateappraisal
issuedbyastateorganizationorastate‐regulatedagencywhosecriteriafor
certificationcurrentlymeetstheminimumcriteriaissuedbytheAppraiser
QualificationsBoardofTheAppraisalFoundation.LandmarkNetworkwillverify
Appraiser'scredentialsthroughouthis/hertermofAgreement.
 Appraisermustbequalifiedandingoodstandingwithanyandallstatelicensing
agenciesandmustnotbeprohibitedfromperformingappraisalworkbyanystate
licensingagency,normisrepresentanyinformationinthisapplicationorother
supportingdocumentcontributingtowardAppraiser'sapproval.
 Appraisermustunderstandinvestorandsecondarymarketguidelines,includingthose
ofFNMA,FHLMC,andHUD,andbeabletocompetentlyapplytheserequirementsas
wellasanymorestringentrequirementsestablishedbyLandmarkNetworkorits
clientsinthecompletionofallorderassignments.
 Appraisermusthaveaminimumof5years’residentialappraisalexperience.
 Appraisermustbewillingandabletocommunicatewithourofficeviaphoneand/or
email,MondaythroughFriday,excludingholidays.
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ApprovalDocumentationRequirements
LandmarkNetworkusesthefollowingdocumentationcriteriainapprovingApplicantsfor
ourApprovedResidentialAppraiserPanel.Thedocumentationcriteriaaresubjectto
changewithoutnotice.Applicantmust:
 CompletetheonlineAppraiserApplication.
 ProvideacopyofthecurrentstateLicenseorCertificationforanystateinwhich
Appraiserhasregisteredanddesirestoperformappraisalassignments.
 ProvideacopyofcurrentDeclarationsPage(Certificate)ofErrorsandOmissions
Insurancepolicy.Minimumrequirementtobeaddedtothepanelis$300,000each
claim/$600,000Aggregate.
 Provideacopyofyourcurrentresumethatincludesallemploymentforthepriorfive
years,plusalistingofprofessionaleducationclassestakenforlicensingorcontinuing
educationwithinthelasttwoyears.Theresumeshouldnotewhatpercentageoftime
wasdevotedtotheappraisalofrealpropertyforeachemploymentperiod
 CompletedandsignedW‐9formandacopyofyourIRS147C(LetterforTINValidation)
 Listofallcountiescovered
 ListofallMLSprovidersyousubscribeto
 Pleaseprovide3AMCorLenderspecificreferences
 DiscloseonAppraiserApplicationifAppraiserorthefirm,throughwhichcurrentlyor
formerlyemployed,haseverbeeninvolvedinalawsuit(pendingorresolved).
 CompletethePaymentInformationForm.
 CompletetheNoticeandAuthorizationformtoprocureaCriminalBackgroundCheck.
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3 AppraiserServiceLevelExpectations
 General:
1. AppraisershallperformtheServicesinaccordancewiththisAgreementandtheservice
levels,specificationsandtimeframesassetforthinthisAgreementand/orEngagement
Letter,asapplicable.Appraiserunderstands,acknowledgesandagreestoidentifytheir
competenciesandthatLandmarkNetworkwilldetermineAppraiser’svolumelimits,
geography,andappraisalproductseligibleforServiceshereunderandmaychangesuch
requirementsfromtimetotimeinitssoleandabsolutediscretion.
2. UnlessthePartiesotherwiseagreeinwriting,allServicesprovidedhereundershallbe
processedand/orprovided,whetherinpartorinwhole,byAppraiser,itsemployees
and/orrepresentativesonandfromalocationorlocationsinone(1)ormoreofthe
fifty(50)states,andterritories,oftheUnitedStatesofAmericaonly,allsubjectto
applicablelawsandregulations.
3. ThePartiesareindependentcontractors.NothinginthisAgreementorintheactivities
contemplatedbythePartieshereundershallbedeemedtocreateanagency,
partnership,employmentorjointventurerelationshipbetweenthePartiesoranyof
theirsubcontractorsorRepresentatives.
4. AppraiseragreesthatitshallnotbeconsideredLandmarkNetworksexclusiveprovider
ofanygoodsorServicesprovidedhereunder.LandmarkNetworkretainsthe
unconditionalrighttoutilizeothersuppliersintheprovisionofsimilarservices.
5. AsrequiredinthisAgreementand/orEngagementLetter,allappraisalreportsand
relateddocumentation,andinvoices,shallbeprovidedinprintedorelectronicformats
acceptabletoLandmarkNetwork.LandmarkNetworkmayuseandreproducefor
internalpurposesallappraisalreportsandrelateddocumentationfurnishedby
Appraiser,includingdisplayingtheappraisalreportsandrelateddocumentationon
LandmarkNetworksintranetorotherinternalelectronicdistributionsystem,inpartor
inwhole.Appraiseracknowledgesandagreesthatthelender/clientmaydiscloseor
distributeappraisalreportspreparedbytheAppraiserto:theborrower;anotherlender
attherequestoftheborrower;themortgageeoritssuccessorsandassigns;mortgage
insurers;governmentsponsoredenterprises;othersecondarymarketparticipants;data
collectionorreportingservices;professionalappraisalorganizations;anydepartment,
agency,orinstrumentalityoftheUnitedStates;andanystate,theDistrictofColumbia,
orotherjurisdictions;withouthavingtoobtaintheAppraiser’sorthesupervisory
appraiser’s(ifapplicable)consent.Appraiser’sconsentshallbeobtainedbeforean
appraisalreportmaybedisclosedordistributedtoanyotherparty(including,butnot
limitedto,thepublicthroughadvertising,publicrelations,news,sales,orothermedia).
*Appraiserwillnotprovideacopyorsummaryofanyappraisaldeliveredto
LANDMARKNETWORK,noranyexcerptstherefrom,toanyperson,without
LANDMARKNETWORKsadvanced,writtenauthorization.
6. ThisAgreementshallbeineffectfromtheEffectiveDateandshallcontinueuntil
terminatedunderthetermsofthisAgreement.
7. Exceptasotherwiseprohibitedbyapplicablestateorfederallaw,eitherPartymay
terminatethisAgreementforitsconvenience,withoutcause,atanytimewithout
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furtherchargeorexpenseuponpriorwrittennoticetotheotherParty.Withoutlimiting
thegeneralityoftheforegoing,Appraiserunderstands,acknowledgesandagreesthat
LandmarkNetworkmayremoveAppraiser.
8. Appraiseragreestoattend,athis/herowncost,trainingsessionsandcontinuing
educationasrequiredtomaintainappropriatelicensure.Appraiseragreestostay
currentwiththeappraisalstandardsandpracticesrelatingtoappraisals,USPAP,and
theInteragencyGuidelinesforBanks&CreditUnions.
 AppraiserPersonnel
1. Appraiserislicensedorcertifiedasrequiredinordertoperformappraisalservices
relatedtopropertylocatedinthestatesonfilewithLANDMARKNETWORKandwill
providetoLANDMARKNETWORKacopyofeachsuchlicenseandrenewalthereof.
OnceanAppraiser'supdatedlicensesorcertificationshavebeenreceived,Appraiser
agreestosubmitcopiestoLANDMARKNETWORK.Appraiserwillmaintainthese
licenses/certificationsthroughoutthetermofthisAgreementandwilladvise
LANDMARKNETWORKimmediatelyofanyinvestigationorproceedingrelatingtosaid
licenses/certifications.AppraiserindemnifiesLANDMARKNETWORKforanyandall
losses,damages,finesand/orcosts,includingreasonableattorney'sfees,inconnection
withanyfailurebyAppraisertobeproperlylicensed/certified.
2. Withinforty‐eight(48)hoursfollowingLandmarkNetworksrequest,Appraisershall
requestpermissiontoreassigntoanotherapprovedAppraiserwithintheoffice,if
AppraiserchoosestoassignaLandmarkNetworkordertoanotherqualifiedand
approvedappraiserwithinAppraiser’soffice.
3. AppraisershallinformallofitspersonnelprovidingServicespursuanttothis
AgreementthattheywillnotbeconsideredemployeesofLandmarkNetworkforany
purpose,andthatLandmarkNetworkshallnotbeliabletoanyofthemasanemployer
foranyclaimsorcausesofactionarisingoutoforrelatingtotheirassignment.
4. AppraisershallnotknowinglypermitaRepresentativetohaveaccesstothe
ConfidentialInformationwhensuchRepresentative:(a)hasbeenconvictedofacrime
orhasagreedtoorenteredintoapretrialdiversionorsimilarprograminconnection
with:(i)adishonestactorabreachoftrust,assetforthinSection19oftheFederal
DepositInsuranceAct,12U.S.C.1829(a);or(ii)afelony;or(b)usesillegaldrugs.
5. AsmayberequiredbyLandmarkNetwork,Appraiseranditsrespective
Representativesmayberequiredtosubmittoperiodicbackgroundchecks,including,
withoutlimitation,priortoperformingServicesunderthisAgreementandonsuch
periodicbasisasLandmarkNetworkmaydetermineappropriateinitssolediscretion.
6. LandmarkNetworkandAppraiserrepresentthattheyareequalopportunityemployers
anddonotdiscriminateinemploymentofpersonsorawardingofsubcontractsbecause
ofaperson’srace,sex,age,religion,nationalorigin,veteranorhandicapstatus.
 OrderManagement:
LandmarkNetworkmaymakeoneormorewebsitesavailabletoAppraiser.Appraisershall
complywithanyandallapplicablepoliciesandproceduresand/ortermsandconditionsof
useofsuchwebsites.Appraiserunderstandsandagreestoutilizethewebsiteasdescribed
withinthewebsite.CurrentlyLandmarkNetworkutilizesaproprietarysystemcalled
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Landscapeforordermanagementaswellasaappraiserpanelmonitoring.TheLandscape
databasemusthaveacurrentlicenseandE&Oinorderfortheappraisertobeeligiblefor
assignments.
 AssignmentoftheAppraisalOrder:
PleasereadeachorderCAREFULLYasitcontainsimportantinformationabouttheproperty
youarebeingaskedtoappraiseaswellclientspecificguidelinesforcompletingthe
inspectionand/orthefinalreport.LANDMARKNETWORKdoesnotbroadcastordersto
multipleappraisers;wepersonallycontacteachappraiserandoffertheorderfor
acceptance.Ifyoureceiveanappraisalrequestfromus,itisbecauseyouorsomeonein
yourofficeverballyacceptedtheorder.Ifanappraisalorderisreceivedoracceptedin
errororcannotbecompleted,pleasecontactourofficeimmediatelyat888.272.1214x2or
[email protected].
 AppraiserIndependence:
Toensureappraiserindependence,itisthepolicyofLANDMARKNETWORKnottorelease
appraisercontactinformation(suchasphonenumberoranaddress)tothelenderof
orderingpartypriortothecompletionofanassignment.Therefore,ifyoureceiveacall
fromalenderoranyoneotherthanaLANDMARKNETWORKrepresentativerequesting
informationaboutaparticularorder,pleaseinformussowemaytakethenecessarysteps
topreventthisfromoccurringinthefuture.Itisalsotheappraiser’sresponsibilityto
complywithappraisalindependenceguidelinesandexpectations.
 AppraiserProximity:
InacceptingaLANDMARKNETWORKorder–youacknowledgethatyouare:
1. LocatedwithinaMAXIMUM30‐mileradiusfromthesubjectproperty
2. Haveaccesstotheappropriatedataforthearea(MLS,CountyRecords,etc.)to
produceasoundandreliablevalueanalysis
3. Experiencedandknowledgeableinappraisingthespecificassignmentandproperty
typeinthesubject’smarketarea
 Communication:
Communicationisthekeytomakinganyrelationshipsuccessfulandtheonebetween
LANDMARKNETWORKandtheappraiserisnoexception.Wewouldliketokeepphone
contactbetweenourstaffandyourstoaminimum;however,inordertoaccomplishthis,it
isimportantforustofollowthebasicruleofcommunication.
 AllorderswillbedeliveredtoAppraiserexclusivelyviaLandscape.IfAppraiserdoesnot
acceptanorderwithin2hours,itwillbeadditionallyassignedtothenextavailable
appraiser.
 Appraiseragreestoupdatestatusfortheordersonceaninspectionisscheduledand
agreestomakeinitialcontactwiththeordercontactwithin24hoursofacceptance.
 Ifquestions,problems,orconcernsariseduringtheappraisalprocess.Appraiseragreesto
notifyLandmarkNetworkimmediately.
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 Orderswillcomeinassignedtoaspecificappraiser,anotherLandmarkNetworkapproved
appraisermaycompletetheassignmentwithpermissionfromaLandmarkNetwork
representative–thismusthappenpriortoinspectionandbenotedintheorderlog.
Traineesareencouragedtoparticipateandbenotedinthereport;however,theappraiser
mustinspectwiththetraineeandsignthereport.
 Appraiseragreestomeetdeadlineswithintheorderorcommunicatethereasonsfordelay.
Alldelaysmustbecommunicatedimmediatelywhentheyaremet,toavoidcancellation.
ThiscanbedoneviaLandscapeorbycontactingLandmarkNetwork.LandmarkNetwork
willotherwiseassumethatinspectionhasbeencompleted,andtherearenodelaysin
completionofreport.
 AppraiseragreestoansweranyrequestsforinformationfromLandmarkNetworkwithin
24hoursorcommunicatethereasonalongertimeperiodisnecessary.Allrequestsfor
informationthatcomefromoutsideofLandmarkNetworkshouldbereferredbackto
LandmarkNetworkforcomment.
 AppraiseragreestoimmediatelynotifytheLandmarkNetworkVendorManagerorsendan
emailvendors@landmarknetwork.comiftheappraiserbelievesanypartyassociatedwith
theloanorappraisalhasattemptedtoundulyinfluencetheAppraiser.
If,atanytime,youhavequestionsregardingtheorderorutilityofthesite,pleasegiveusa
callat888.272.1214x2andspeakwithoneofourrepresentatives.
 Timeframes:
Ourcustomersrelyonustoprovidethemwithgoodcustomerserviceandtimelyupdates
ontheprogressoftheirorders.Inordertofulfilltheirexpectations,itisimportantforyou,
astheappraiser,toberesponsibleforcompletinganddeliveringtheappraisalorders
withina5dayoverallturntimeor48hoursofinspection.Ifyouareunabletomeetthis
establishedtimeline,pleasenotifyLANDMARKNETWORKimmediatelyandadviseusofthe
reasonforthedelay.Delayscausedbytheborrowerorcontactforentrywillnotnegatively
impactyourperformancerating.
 Qualityvs.Timeframe:
Atnotimedowewantthetimelineforassignmentcompletiontoovershadowtheoverall
workproductquality.Weunderstandtherearesituationswherethecomplexityofthe
appraisalassignmentpreventsyoufrombeingabletocompletethereportwithina
previouslyagreedupontimeframe.Inthesesituations,weaskthatyoupleasecalloremail
ourofficeandexplainthereasonforthedelayandsetatentativetimeframefordelivery.
Thisinformationwillberelayedtoourclientasanexceptiontotheirnormalexpectations.
Ifweareproperlynotifiedofanyandallpossibledelaysinadvance,noactionwillbetaken
toreduceyourfeeorfutureassignments.
 Fees:
LANDMARKNETWORKstrivestopaytheappraiseracompetitiveandfairratefortheir
timeandeffortincompletingappraisalassignmentsandwearecommittedtoofferingthe
appraiserafeethatiscustomaryandreasonableforallassignmentscompletedintheir
marketarea.
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 Unlessotherwisemutuallyagreedinwriting,LandmarkNetworkshallpayAppraiserfor
ServicesprovidedunderthisAgreementassetforthintheAppraisalOrderand Engagement
Letter.LandmarkNetworkreservestherighttoamendormodifyits
fees/pricingfromtimetotimeinitssoleandabsolutediscretion.TotheextentAppraiser
authorizesLandmarkNetworktopayfeesforAppraiser’sservicesdirectlytoAppraiser’s
employeroraffiliatedappraisalcompany(asapplicable),Appraiserwillbedeemedtohave
beenpaidinfulluponLandmarkNetworkspaymenttoAppraiser’semployeroraffiliated
appraisalcompany(asapplicable);andAppraisershallholdharmlessLandmarkNetwork
anditsRepresentativesfromandagainstanyandallclaimsorlegalactionsarisingfrom any
disputebetweenAppraiserandAppraiser’semployeroraffiliatedappraisalcompany (as
applicable)regardingsuchpaymentsmadebyLandmarkNetwork.
 LandmarkNetworkshallnotberequiredtopayforServicesthatare:(a)notrequestedby
LandmarkNetworkanddocumentedinanAppraisalOrder,or(b)notmeetingthe
requirementsofthisendunderavalidstateappraisallicenseforthecorrespondingstatein
whichthepropertyislocated,or(d)notcompletedbytheassignedappraiserwithout
LandmarkNetworksapprovaltochangeappraiserswithintheorder.Feesforservicesnot
subjecttothisAgreementoranapplicableAppraisalOrdershallbeasmutuallyagreedin
writingbetweenLandmarkNetworkandAppraiserpriortoperformance.Nofeesforsuch
servicesshallbedueunlesssuchservicesandfeesareagreedtoinwritingbyLandmark
NetworkpriortoAppraiser’sperformancethereof.
 LandmarkNetworkregularlyreviewsfeestudies,suchasthealamodemedianfeestudy
andrecognizingthismedianfee,paysabasefeeslightlybelowthemedianandacomplex
assignmentabovethemedian.Inaddition,LandmarkNetworkandAppraiserrecognizes
thatLandmarkNetworkassumesthefollowingrealexpensesinmanagementprocess
including:
1. Creditcardcharges(typically2.75%oftotalfee).
2. Ontimepaymentstoappraiser,regardlessofvalueorcloseofescrowdate.
3. Chargebackdisputesaccounting(LandmarkNetworkpaystheappraiser,
regardlessofthechargeback/issuesfromtheborrower/orreceiptsofpayment
fromthelender/broker).
4. Paneldevelopment.
5. Pipelinemanagement.
6. QualityControl(priortolender/investorsubmission–anincreasinglender
requirement).
7. Marketingandclientdevelopment.
8. Statelicensing,bonding,andinsurance.
9. Webinarsandnewsletters.
10. Uptodateguidanceregardingunderwritingrequirementsandindustrychanges.
 Invoices,TaxesandPayments:
LANDMARKNETWORKwillautomaticallysendpaymenttoyouforallworkcompleted.
LANDMARKNETWORKis currentlylicensedinmoststateswhereitisrequiredandhas
confirmedthatourpayment policy is compliant with all state specifications.
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Ifyoudisagreewithorhaveaquestionaboutyourspecificstate,pleasedonothesitateto
[email protected].
 CancellationPolicy:Whenaclientdeterminesthatanappraisalordershouldbe
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canceled,aLANDMARKNETWORKrepresentativewillcanceltheorderandnotifythe
Appraiser.IfAppraiserisadvisedofthecancellationbythepropertycontact,Appraiser
shouldnotifyLANDMARKNETWORKimmediately.Acancellationchargewillbe
appliedifsomeworkhasbeencompletedontheappraisalorder.Cancellationcharges
willbeassessedasfollows:
o Appraisalorderedand/orassigned,butnotinspected:thereisnoservicefee.
o Propertyinspected,butreporthasyettobedeveloped:LandmarkNetworkwill
providea$150fee.
o Propertyinspectedanddataentryofformhasbeencompleted,deliveredto
LandmarkNetworkandmeetsQCrequirements:thefullfeeispaid.
Invoicesshallnotbeattachedtoappraisalreports.
LandmarkNetworkwillnotbeobligatedtopayanyinvoiceswhichfailtocomplywith
theAppraisalOrderNotes,andcorrespondingEngagementLetter.
ThePaymentsmadebyLandmarkNetworkforServicesperformedbytheAppraiser
shallincludeallsales,useorexcisetaxesleviedinaccordancewiththegeneralstatutes
orotherauthoritativedirectivesoftheapplicabletaxingauthorityonamountspayable
byLandmarkNetworktoSupplierpursuanttothisAgreement;andLandmarkNetwork
shallnotberesponsibleforremittanceofsuchtaxestoapplicabletaxauthorities,which
shallbetheresponsibilityofAppraiser.
LandmarkNetworkshallnotberesponsibleforanyadvalorem,income,grossreceipts,
franchise,privilege,valueaddedoroccupationaltaxesofAppraiser.LandmarkNetwork
andAppraisershalleachbearsoleresponsibilityforalltaxes,assessmentsandother
realorpersonalproperty‐relatedleviesonitsownedorleasedrealorpersonal
property.
Appraisershallnotcontactlender,borrowerorAffiliatesforpayment.Anyandall
billingquestionsshallbesubmittedsolelytoLandmarkNetwork.Appraisermaycontact
[email protected].
 AppointmentTimes:
LANDMARKNETWORKrequiresallappraiserstocommunicatetheinspectiondateand
timewithin24hoursofreceiptoftheappraisalorder.Thisinformationisthenrelayedto
theclientsotheyareawareoftheactualdateofinspection.Itisimperativetoourclients
thattheirborrowersarecontactedimmediately.Failuretoscheduleanappointmentwithin
24hourswithoutreasonmayresultinaloweredrankingorlossoffutureassignments.At
notimeshouldyoudiscussextendedreportdeliveryorturntimeswiththeborrower.Ifthe
borrowerasksquestions,pleasereferthemtocontacttheirlender.
 SchedulingInspections:
Whencallingtoscheduleinspection,weaskthatyouoryourrepresentativepleaseinform
theborrowerorcontactforentrythatyouarecallingonbehalfofLandmarkNetworkand
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thelender.ThisisbecauseallpaymentsarebeingmadeouttoLANDMARKNETWORKor
thelenderanditistopreventanyconfusiononthepartoftheborrowerorcontactfor
entry.
 UADRequirements:
UADcomplianceisrequiredforthefollowingFannieMae/FreddieMacappraisalreport
forms:1004/70,1073/465,1075/466,2055/2055.Standardizedformats,abbreviations,
ratings,anddefinitionsmustbeinaccordancewithUADspecifications.PriortoXML/PDF
conversion,appraisersmustscrubtheirreportsforUADcomplianceusingreviewtools
providedbytheirappraisalsoftwareproviderinanefforttoensuresuccessfulUCDP
processing.AdditionalinformationregardingUADrequirementsforappraiserscanbe
foundonlineathttps://www.efanniemae.com/sf/lqi/umdp/uad/index.jsp.
 AppraisalReportDelivery:
AllappraisalsMUSTbecompletedinUADformat.Oncecompleted,thereportmustbe
uploadeddirectlyontotheorderpageintheformofanAdobeAcrobat.PDFfileandin.XML
format.Werequiretheentirereport(allpages)includingdigitalphotos,signature,
sketches,maps,andacurrentcopyofyourlicenseandE&Oinsurancetobesentatthetime
ofcompletion.PleaseDONOTincludeyourinvoiceforserviceswithinthecompleted
appraisalreportasclients/borrowershavealreadymadepaymenttous.Ifrequiredby
yourstateregulatoryauthorities,youmayrecordyourfeewithintheappraisalreportasa
commentonanattachedaddendum.
 Licensing/CertificationRequirements:
Currently,LANDMARKNETWORKisonlyacceptingapplicationsforFHAcertified
ResidentialandFHAcertifiedGeneralappraisersacrossall50states.LANDMARK
NETWORKwillonlyuseproperlycertifiedappraisersforourappraisalassignmentsandwe
expectyourofficetobeinfullcompliancewiththeregulationssetforthbythestatein
whichyouareappraising.Yourlicensenumberandexpirationdatesarekeptinoursystem
andarecross‐referencewiththeASCandFHAdatabasestoensurecontinuedcompliance.
 OrderAcceptance:
Onceanorderisaccepted,anappointmentshouldbescheduledwiththeborroweror
contactforentrywithin24hoursandnotifyLANDMARKNETWORKofthedateandtime.If
foranyreasonyouareunabletoscheduletheappointment,pleaseadviseLANDMARK
NETWORKASAP.Thefollowingareacceptablereasonsforanordertogoforlongerthan24
hourswithoutaninspectionbeingset:
1. Theborrowerhasadvisedtheappraiserthattheywouldliketodelayscheduling.If
thisoccurs,pleasemakesuretheyprovideyouwiththeirreasonforwantingto
delaytheinspectionsowemayadvisetheclient.
2. Appraiserhasnotbeenabletogetintouchwiththeborrower.Inthiscaseyoumust
contactLANDMARKNETWORKimmediatelytoobtainadditionalcontact
information.
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IfanappraiserdoesnotcommunicateastatustoLANDMARKNETWORKwithin24hours,
theorderwillbereassignedASAPandyouwillforfeittheorder.
 Scheduling:
Anappraisalinspectionshouldbesetwithin2daysofacceptanceand/oraccordingtothe
borrower’sschedule.PLEASEDONOTacceptanorderifyourworkloadwillnotallowyou
toaccommodatethistimeline.Ifaborrowerhasrequestedaninspectiontobesetfor3+
daysaftertheacceptancedate,pleaseadviseLANDMARKNETWORKsowemayinformthe
client.
 Inspections:
Onceyouhavecompletedaninspection,werequiredeliveryofthereportwithin24‐48
hoursunlessyouhaveadvisedusofadelay.
 QualityControl:
Anin‐houseQCstaffmembermanuallyreviewseachreportdeliveredtoLANDMARK
NETWORK.Ifareportissentbackafterreviewwithquestionsorcorrections,itisour
expectationthatthesecorrectionswillbecompletedimmediatelyuponreceiptanda
revisedreportwillbesubmittedthroughthewebsiteinordertopreventlongdelaysin
delivery.Ifyouareunabletocompletetherequestedcorrectionsimmediately,please
contactourofficeandadviseusofanexpectedtimeofdelivery.
 UnderwritingConditions:
Ifanunderwriterrequestsacondition,wewillnotifyyouviaemail.Weaskthatyouplease
givetheseconditionsthehighestpriorityandworktocompletethemasquicklyaspossible.
Wewillasktohavetheconditionscompletedandarevisedreportreturnedtoouroffice
within24hoursofreceipt.Ifthisisnotpossible,pleaseinformourofficeimmediatelyand
provideuswithanestimatedtimeofdelivery.
 ReconsiderationsandAppeals:
Theremaybeinstanceswhentheborrowerorlenderwillhavequestionsregardingyour
reportandwillrequestclarifications,orsubmitadditionaldataforyourreview.Rest
assured,whenyoureceivearequestforreconsideration,ithasbeenauditedbyoneofour
certifiedstaffappraiserstoensurevalidityandaccuracybeforebeingsenttoyou.Weask
thatyoupleasereviewalltheinformationthoroughlyandprovideaprofessionalresponse
withinanaddendumtotheoriginalreport,orconfirmtherequestedcorrectionsand
resubmittherevisedreporttoourofficeASAP.Standardturntimeforreconsiderationis
24‐48hours.
 Insurance:
AppraisershallatitsownexpensesecureandcontinuouslymaintainthroughouttheTerm,
theinsurancecoverage’srequiredbyLandmarkNetworkundertheLandmarkNetwork
PoliciesandProcedures,asapplicable.Appraisershall,withinseven(7)calendardays
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followingLandmarkNetworksrequest,furnishtoLandmarkNetworkcertificatesand
requiredendorsementsevidencingsuchinsurance.
o Appraisercertifieshe/shewillmaintainanErrorsandOmissions(E&O)Insurance
policyinforceatalltimes,withoutanylapsesincoverage,asanapproved
AppraiserwithLANDMARKNETWORK.Minimumcoverageamountsare$300,000
eachclaimand$600,000aggregate.AttimeofE&Opolicyrenewalorwhen
submittingproofofrenewedlicensesandcertifications,Appraiseragreestoalso
provideproofofcontinued(orrenewed)E&OInsurancecoverage.Appraiser
understandsitishis/herresponsibilitytoensureLANDMARKNETWORKhasa
currentpolicycopyofE&Oinsuranceatalltimes.
o ThefailureofLandmarkNetworktoobtaincertificates,endorsements,orother
formsofinsuranceevidencefromAppraiserisnotawaiverbyLandmarkNetwork
ofanyrequirementsfortheAppraisertosecureandcontinuouslymaintainthe
specifiedcoverage.LandmarkNetworksacceptanceofcertificatesand/or
endorsementsthatinanyrespectdonotcomplywiththerequirementsofthis
SectiondoesnotreleasetheAppraiserfromcomplianceherewith.Should
Appraiserfailtosecureandcontinuouslymaintaintheinsurancecoverage
requiredunderthisAgreement,AppraisershallitselfberesponsibletoLandmark
Networkforallthebenefitsandprotectionsthatwouldhavebeenprovidedby
suchcoverage,includingwithoutlimitation,thedefenseandindemnification
protections.
o AppraisermustnotifyLandmarkNetworkimmediatelyifcoveragechangesare
madeaftersuchtimethatthecertificatesareissuedtoLandmarkNetwork.
 ConfidentialityandInformationProtection:
PrivacyInformation:Theprivacyregulationsandinformationsecurityguidelinesissued
bythefederalfinancialregulatorspursuanttotheTitleVoftheGramm‐Leach‐BlileyAct
("GLBA")wentintoeffectonJuly1,2001.Pursuanttothoseregulationsandguidelines,
coveredfinancialinstitutionsandserviceproviderswithaccesstoconfidentialdataare
requiredtoensurethatallserviceprovidersandmarketingpartnerswhohaveaccessto
customerinformationprovideforconfidentialityandsecurityofsuchinformation.To
facilitateLANDMARKNETWORKsabilitytodemonstratecompliancewiththeprivacy
requirementsofGLBA,Appraiseragreesandunderstandshis/herobligationstothe
followingwhichwillapplytoalldataprovidedtoAppraiserbyLANDMARKNETWORK:
1. Asusedherein,theterm"CustomerInformation"shallmeanany"nonpublic
personalinformation"aboutthe"customers"and"consumers"(asthosetermsare
definedinTitleVoftheGramm‐Leach‐BlileyActandtheprivacyregulations
adoptedthereunder)ofLANDMARKNETWORK."ServiceProvider"shallmeanthe
Partyacceptingbelowas"Appraiser"andeachofitsaffiliatesandsubsidiariesthat
arenoworhereaftermaybeprovidinganygoodsorservicestoLANDMARK
NETWORK.
2. AppraiseracknowledgesthatLandmarkNetworkhasaresponsibilitytoits
customersandotherconsumersusingitsservicestoConsumerInformationstrictly
confidential.Appraiserherebyagreesthatitwillnot,andwillcauseits
Representatives,consultants,Affiliatesandindependentcontractorsnottodisclose
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3.
4.
5.
6.
ConfidentialInformation,duringoraftertheTermofthisAgreement,otherthanon
a“needtoknow”basisandthenonlytoAppraiser’sRepresentatives.Appraisershall
notuseordiscloseConfidentialInformationforanypurposeotherthantocarryout
thisAgreement.AppraisershalltreatConfidentialInformationwithnolesscare
thanitemploysforitsownConfidentialInformationofasimilarnaturethatitdoes
notwishtodisclose,publishordisseminate,butnotlessthanareasonablelevelof
care.UponexpirationorterminationofthisAgreementforanyreasonoratthe
writtenrequestofLandmarkNetworkduringtheTermofthisAgreement,
AppraisershallpromptlyreturntoLandmarkNetworkordestroyaccordingtothe
InformationDestructionRequirementsdescribedwithin“InformationSecurity”,at
LandmarkNetworkselection,allConfidentialInformationinthepossessionof
AppraiserorAppraiser’sRepresentatives,subjecttoandinaccordancewiththe
termsandprovisionsofthisAgreement.
TheobligationsofconfidentialityinthisSectionshallnotapplytoanyinformation
that(i)Appraiserrightfullyhasinitspossessionwhendisclosedtoit,freeof
obligationtoLandmarkNetworktomaintainitsconfidentiality;(ii)Appraiser
independentlydevelopswithoutaccesstoConfidentialInformation;(iii)isor
becomesknowntothepublicotherthanbybreachofthisSectionor(iv)isrightfully
receivedbyAppraiserfromathirdpartywithouttheobligationofconfidentiality.
AnycombinationofConfidentialInformationdisclosedwithinformationnotso
classifiedshallnotbedeemedtobewithinoneoftheforegoingexclusionsmerely
becauseindividualportionsofsuchcombinationarefreeofanyconfidentiality
obligationorareseparatelyknowninthepublicdomain.
AppraiseracknowledgesthatLandmarkNetworkisrequiredtocomplywiththe
informationsecuritystandardsrequiredbytheGramm‐Leach‐BlileyAct(15U.S.C.
6801,6805(b)(1))andtheregulationsissuedthereunder(12C.F.R.Part40),the
FairandAccurateCreditTransactionsAct(15U.S.C.1681,1681w)andthe
regulationsissuedthereunder(12C.F.R.Parts30and41)andwithotherstatutory,
legalandregulatoryrequirements(collectively,“PrivacyLaws”).Ifapplicable,
AppraisershallmakeitsbesteffortstoassistLandmarkNetworktosocomplyand
shallcomplyandconformwithapplicablePrivacyLaws,asamendedfromtimeto
time,andwiththeLandmarkNetworkpoliciesforinformationprotectionas
modifiedbyLandmarkNetworkfromtimetotime.
ThroughoutthetermofthisAgreement,ServiceProvidershallimplementand
maintain“appropriatesafeguards”asthattermisusedinSection314.4(d)ofthe
FTCSafeguardRule,16C.F.R.Section314(the"FTCRule")forall"customer
information"asthattermisdefinedinSection314.2(b)oftheFTCRule,ownedby
LANDMARKNETWORKanddeliveredtotheServiceProviderpursuanttothis
agreement.
AsaconditionofaccesstotheConfidentialInformationofLandmarkNetwork,and
upontherequestofLandmarkNetwork,Appraisershallmakeavailableto
LandmarkNetworkacopyofitswrittenInformationSecurityProgramfor
evaluation.Theprogramshallbedesignedto:(a)ensurethesecurity,integrityand
confidentialityofConfidentialInformation;(b)protectagainstanyanticipated
threatsorhazardstothesecurityorintegrityofsuchConfidentialInformation;(c)
protectagainstunauthorizedaccesstooruseofsuchConfidentialInformationthat
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7.
8.
9.
10.
couldresultinsubstantialharmorinconveniencetothepersonorentitythatisthe
subjectofsuchConfidentialInformation;and(d)ensuretheproperdisposalofsuch
ConfidentialInformation.
Appraisershallensurethefollowing:(a)adequategovernanceandriskassessment
processesareinplacetomaintaincontrolsoverConfidentialInformation.Asecurity
awarenessprogrammustbeinplaceorimplementedthatcommunicatessecurity
policiestoallAppraiserpersonnelhavingaccesstoConfidentialInformation;(b)
notificationtoLandmarkNetworkofchangesthatmayimpactthesecurityof
ConfidentialInformation.Suchchangesrequiringnotificationinclude,bywayof
exampleandnotlimitation,outsourcingofcomputernetworking,datastorage,
managementandprocessingorotherinformationtechnologyfunctionsorfacilities
andtheimplementationofexternalweb‐enabled(Internet)accesstoConfidential
Information;and(c)useofstrong,industry‐standardencryptionofConfidential
Informationtransmittedoverpublicnetworks(e.g.Internet,non‐dedicatedleased
lines).
Appraiseragreeshis/heruseofelectroniccommunicationstotransmitappraisalsis
secure;onlyAppraiserknowsthepasswordrequiredtotransmitappraisalsand
onlyAppraiserhastheaccessrequiredtoelectronicallytransmitanappraisalwith
anelectronicsignature.
ServiceProvidershallpromptlynotifyLANDMARKNETWORKinwritingofeach
instanceof(i)unauthorizedaccesstooruseofthatcustomerinformationthatcould
resultinsubstantialharmorinconveniencetoacustomerofLANDMARKNETWORK
or(ii)unauthorizeddisclosure,misuse,alteration,destruction,orothercompromise
ofthatcustomerinformation.
ServiceProvidershallindemnifyandholdharmlessLANDMARKNETWORKfrom
andagainstanyloss,claim,costs,penalties,andexpensesthatLANDMARK
NETWORKmaysufferduetoServiceProvider'sbreachofanyprovisioninthis
section.
 MutualRepresentationsandWarranties:
1. EachPartyrepresentsandwarrantsthefollowing:(a)theParty’sexecution,
deliveryandperformanceofthisAgreement:(i)havebeenauthorizedbyall
necessarycorporateaction,(ii)donotviolatethetermsofanylocal,stateor
federal,law,regulation,orcourtordertowhichsuchPartyissubjectortheterms
ofanymaterialagreementtowhichthePartyoranyofitsassetsmaybesubject
and(iii)arenotsubjecttotheconsentorapprovalofanythirdparty;(b)this
AgreementisthevalidandbindingobligationoftherepresentingParty,
enforceableagainstsuchPartyinaccordancewithitsterms;and(c)suchPartyis
notsubjecttoanypendingorthreatenedlitigationorgovernmentalactionwhich
couldinterferewithsuchParty'sperformanceofitsobligationshereunder.
2. IfatanytimeaftertheEffectiveDateofthisAgreement,AppraiserorAffiliateis
engagedinlitigationorpendinggovernmentalinvestigationoractionwhichcould
interferewithAppraiser’sperformanceofitsobligationshereunder,Appraiser
agreestocontactaLandmarkNetworkVenderManageruponnoticeofimpending
litigationorgovernmentalinvestigationoraction.
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 RepresentationsandWarrantiesofAppraiser:
1. InrenderingitsobligationsunderthisAgreement,withoutlimitingother
applicableperformancewarranties,Appraiserrepresentsandwarrantsto
LandmarkNetworkasfollows:(a)Appraiserisingoodstandinginthestateofits
incorporation/organizationandisqualifiedtodobusinessasaforeign
corporation/organizationineachoftheotherstatesinwhichitisproviding
Serviceshereunder;(b)Appraisershallsecureorhassecured,andwillcontinueto
maintain,allpermits,licenses,regulatoryapprovalsandregistrationsrequiredto
renderServicessetforthherein,includingwithoutlimitation,registrationwiththe
appropriatetaxingauthoritiesforremittanceoftaxes,(c)exceptasmaybe
specificallydisclosedinwritingtoLandmarkNetworkbyAppraiserand
acknowledgedinwritingbyLandmarkNetwork,Appraiserhasnothadany
disciplinaryaction(s)againstitinthestate(s)whereitislicensed/certifiedwithin
thelastfive(5)years,and(d)Appraiserpossessesgeographicandproduct
competenceforeachAppraisalOrderaccepted.
2. Appraiserwillnotacceptorcompleteassignmentsinwhichhe/shehasaninterest,
directorindirect,financialorotherwiseinthesubjectproperty.
3. Appraiserhastherighttorefuseanyandalloffersofappraisalassignments.
Appraiserretainssoleandabsolutediscretion,control,andjudgmentinthe
mannerandmeansofexecutingtheappraisalassignmentinaccordancewith
appropriateregulatoryguidelinesorrequirements.IntheeventAppraiserhasan
excessiveamountoforderdeclines,LANDMARKNETWORKreservestherightto
evaluateand/ormodifyAppraiser'scoverageareaonfilewithLANDMARK
NETWORK.
4. AppraiserrepresentsandwarrantsthatitshallperformtheServicesinatimely
andprofessionalmannerusingcompetentpersonnelhavingexpertisesuitableto
theirassignments.
i. Whenanorderisaccepted,Appraiseragreestocompletetheorderwithinthe
statedturnaroundtime("TAT"),product,andclientexpectationsasindicated
intheappraisalorder,LANDMARKNETWORKAppraiserCompanyStandards
Policy,and/ortheLANDMARKNETWORKResidentialAppraisalGuidelines.
Theturnaroundtime(definedasthetimeinwhichthereportmustbe
electronicallydeliveredtoLANDMARKNETWORK)beginswhentherequest
fortheappraisalisreceivedandacceptedbyAppraiser,asverifiedbythe
electronicmaildateandtime.Ordersthataresubjecttoclient/realtordelays,
propertyaccessissues,orincomplete/incorrectorderswillbeadjustedinthe
turnaroundtimecalculations.Appraiserwillmanageexceptionsonacase‐by‐
casebasisbycontactingLANDMARKNETWORKassoonasAppraiserlearnsof
theoccurrenceofthedelay,andtheclockwillrestartwhentheinspectionis
completed.TheturnaroundtimeclockstopswhenAppraisercompletesthe
reportandelectronicallytransmitsthereport,asverifiedbytheelectronic
maildateandtime.
5. AppraiserrepresentsandwarrantsthattheServicesshallconformtoorexceed,in
allmaterialrespects,thespecificationsdescribedherein,aswellasthestandards
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generallyobservedintheindustryforsimilarservices,andintheEngagement
Letter.AppraiserrepresentsandwarrantsthattheServicesshallcomplywiththe
currentUniformStandardsofProfessionalAppraisalPractices,allapplicablestate
andfederallaws(including,withoutlimitation,FIRREATitleXI,theEqualCredit
OpportunityActandtheFairHousingAct,GLBPrivacyAct)andallapplicable
appraisalguidelinespublishedbyFannieMae,FreddieMac,HUD,theFDIC,the
OTS,theOCCandtheNCUAandthathe/shewillprepareappraisalsthatmeet
thosestandardsasapplicable.Inaddition,Appraiseragreestoperformhisorher
responsibilitiesunderthisAgreementincompliancewithallapplicablefederaland
statelaws,regulatoryrequirementsandprofessionalstandardspertainingtothe
appraisalofrealproperty,includingbutnotlimitedtotherequirementsspecified
inorestablishedunderTitleXIVoftheDodd‐FrankWallStreetReformand
ConsumerProtectionAct,TitleXIoftheFinancialInstitutionsReformRecoveryand
EnforcementActof1989(FIRREA).LANDMARKNETWORKmayfromtimetotime
issueitsownappraisalstandardstowhichtheAppraiseragreestoadhere.
AppraiserwillbesubjecttoongoingqualityassurancereviewsbyLANDMARK
NETWORKtoverifyAppraiser'scontinuedcompetency.
6. Anyclient‐specificrequirementsand/orspecialinstructionsattachedtotheorder
mustbestrictlyadheredtowhencompletingassignments.Pleasebesuretoread
instructionsassociatedwitheachorderasclientrequirementsmaychange.
7. Appraiserwillcompleteallinspectionsinpersonandwillnotallowassignmentsto
becompletedby,orassignedto,anyotherappraiserswithoutpriorapprovalby
LANDMARKNETWORK.Theinspectionofthepropertymustbeapersonalon‐site
inspectionandcannotbea“virtual”inspection.Theinteriorandexteriormustbe
inspectedunlesstheassignmentisforan“Exterior‐OnlyInspection”appraisal
report.
8. AppraiseragreestoutilizetheLANDMARKNETWORKwebsite
(https://www.landmarknetwork.com)onaregularbasistokeeptrackofassigned
orders,providetimelyupdatestothoseorders,andtorespondtoweb‐initiated
requests.ThefollowingworkitemsneedtobeprocessedviatheLANDMARK
NETWORKwebsite:
i. OutstandingCommunications:
1. Viewandacknowledgeoutstandingordercommunications
submittedthroughthewebsite.
2. PreviouscommunicationsaredisplayedontheOrderNotestabfor
eachorder.
ii. OutstandingOrders:
1. Obtainalistofoutstandingorderstobecompleted.
2. Retrievetheassignmentreportforeachorderonline.
3. Provideinspectiondatesonline.
4. Providecommentsforeachorderonlineasnecessary.
iii. OrderFollow‐up:(Ordersthatrequirefollow‐upforanInspectionDate,
EstimatedCompletionDate,etc.)
1. Obtainalistoforderfollow‐updetails.
2. Provideinspectiondatesonline.
3. Providecommentsforeachorderonlineasnecessary.
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9. AppraiserrepresentsandwarrantsthattheWorkProductandServicesfurnished
underthisAgreementdonotandshallnotinfringe,misappropriateorotherwise
violateanyIntellectualPropertyRightsoranyotherrightsofanythirdparty.
10. AsoftheEffectiveDate,therearenoactions,suitsorproceedingspending,ortothe
knowledgeofAppraiserthreatened,againstAppraiserandAppraiser’s
Representativesalleginginfringement,misappropriationorotherviolationofany
IntellectualPropertyRightsrelatedtoanyWorkProductorServicecontemplated
bythisAgreement.
11. AppraisershallimmediatelynotifyLANDMARKNETWORKifhis/herappraisal
licenseissuspended,revokedorlimitedbyanystatelicensingorgoverningagency.
12. AppraisershallberesponsibleforensuringthatAppraiser’sRepresentativesand
shallperformallobligationsofAppraiserunderthisAgreementincompliancewith
alllaws,rules,regulations,guidelinesandotherlegalrequirements.Inaddition,the
Appraiserrepresentstheyareincompliancewithallfederalconsumerfinancial
laws,includingregulationsrelatedtounfair,deceptiveorabusiveactsorpractices.
USPAPviolationsshallbereportedtoallapplicablestateboards,alongwiththe
correspondingreport.
13. AppraiserCommunications/Reconsiderations:Appraiseracknowledgesthat
he/shemaybecontactedbyrealestatebrokers,salespeople,homebuyers,home
sellers,orotherswhoseekadjustmentstothevalueconclusionsinhis/her
appraisalreports.Appraiseragreesthatheorshewillimmediatelyreferorreport
allsuchcontactsorrequeststoLANDMARKNETWORKforeachLANDMARK
NETWORKclientandwillnottakeanyresponsiveactionsunlessaformal
AppraisalReconsiderationRequestisreceivedfromLANDMARKNETWORK.
Appraiserfurtheragreesthatinrespondingtosuchrequests,heorshewill:(i)
utilizeLANDMARKNETWORK‐requiredformsandadheretootherapplicable
appraisalreviewpolicyrequirementsimposedbyLANDMARKNETWORKand/or
itsclients;(ii)complywithUSPAPandotherapplicablelaws,rulesandstandards;
and(iii)refrainfromsubmittinganyalteredappraisalreportunlessallchanges
havebeenadequatelysupportedandappropriatelydocumentedintherevised
report.
14. RevisionstoSalesContracts:Appraiseracknowledgesthatinconnectionwith
his/herappraisals,he/shemayreceiverevisedsalescontractsthatchangethe
purchase.Uponreceiptofarevisedsalescontractthatmodifiesthepurchaseprice
theAppraiserwillanalyzethechange(s)andmakeappropriaterevisionstothe
appraisalreport.Therevisionstothereportincludeidentifyingthetermsofthe
contractforsaleinanappraisaladdendum;andiftheopinionofvalueischanged,
provideadetailedexplanationforthechangeinvalue.
15. AppraiseragreestonotifyLANDMARKNETWORK,wheneverpossible,viaits
websiteofanyabsences,atleast1weekpriortostartdate,bysubmittingarequest
tobeplacedonblackout.
16. IntheeventthatAppraiser'sapprovalstatuswithLANDMARKNETWORKis
terminatedbyAppraiserorbyLANDMARKNETWORK,allpaymentsthereafter
madetoAppraisershallbemadeinaccordancewiththecompensationagreement
ineffectatthetimethattheassignmentisorderedwithAppraiser.
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 LimitationofLiability:




NeitherPartyshallbeliabletotheotherforanyspecial,indirect,incidental,consequential,
punitiveorexemplarydamages,including,butnotlimitedto,lostprofits,evenifsuchParty
allegedtobeliablehasknowledgeofthepossibilityofsuchdamages,provided,however,
thatthelimitationssetforthinthisSectionshallnotapplytoorinanywaylimitthe
obligationsoftheSectionentitled“ConfidentialityandInformationProtection”or
Appraiser’sgrossnegligenceorwillfulmisconduct.
LawtoGovern:
ThisAgreementshallbegovernedbyandconstruedandenforcedinaccordancetothelaws
oftheStateofCalifornia.
Severability:
TheprovisionsofthisAgreementareseverable,andifanypartofitisfoundtobe
unenforceable,theotherparagraphsshallremainfullyvalidandenforceable.This
Agreementshallsurvivetheterminationormodificationofanyarrangementscontained
hereinorinanyExhibitsorAddendumsattachedhereto.
EntireAgreement:
ThisAgreement,whichconsistsofalldocumentsandexhibitsaslistedonPage4‐5ofthe
VendorPackageAgreement,encompassestheentireAgreementbetweenAppraiserand
LANDMARKNETWORKandsupersedesanyandallpriorAgreementsand/ordiscussions.
LANDMARKNETWORKshallhavetheauthoritytounilaterallymodifythisAgreementas
neededatitssolediscretion.
Disclaimer:
IfyoudisagreewithanyportionofthisagreementandwouldlikeLANDMARKNETWORKto
removeyoufromourlistofpossibleappraisers,pleaseforwardanemailtoourofficeat
[email protected].
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Acknowledgement
BysigningthisAppraiserAgreementpackage,theappraiserherebyacknowledgesandwarrantsthe
following:
 Appraiserhasandshallmaintainanynecessarylicensestoperformtheappraisalwork
requiredinaccordancewithstate/localregulationsandrequirements,aswellasall
LANDMARKNETWORKrequirements.
 TheappraisershallimmediatelyinformLANDMARKNETWORKintheeventtheynolonger
maintainsuchlicenses.
 Appraiserwill,atalltimes,conducttheappraisalwithinrequirementssetforthbylocal,
state,and/orfederalauthorities.
 AppraisershallcarrysufficientE&Oinsurancetomeetlender/investorandstate
requirements.TheminimumE&OrequirementstobeapprovedwithLANDMARK
NETWORKis$300,000eachclaim/$600,000aggregate.
Werequesttheappraisertoprovideanelectronicsignatureasacknowledgementofallitems
addressedwithintheSLE.
Appraiser(PrintedName)
City
State,Zip
Address
Signature
Date
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4
AppraiserDisciplinaryProcess
WhatyouneedtoknowaboutMandatoryReportingofan
appraiser.
Reportinganappraisertoastateand/orotherregulatoryagenciesisseriousbusinessandshould
betreatedassuch.
Inordertoreportanappraiser,astrongsuspicionthattheyhavemateriallyfailedtocomplywith
theUniformStandardsofProfessionalAppraisalPractice(USPAP)orotherethicaland/or
professionalexpectationsshouldbeevident.Additionally,suchsuspicionsshouldleadareasonable
anddisinterestedthirdpartytobelieveamaterialfailuretocomplyhasoccurred.Toclarify,a
materialfailureisonethatwillsignificantlyaffectthefinalvalueoutcomeforasubjectproperty,
usuallymakingadifferenceof10%ofmore.
Ifafailuretocomplyisidentified,LandmarkManagementwillcompletethefollowingstepsin
ordertodeterminewhetherornottheappraisershouldbereportedtotheappropriateagency.
 Contacttheappraisertoreviewanddiscusstheidentifiedconcern(s).
 Appraiserwillberequestedtoprovideawrittenrebuttalorexplanationofconcern(s).
Ifareasonableresolutioncannotbeobtainedthroughcorrectionorexplanation,Landmarkwill
begintheprocessofreportingtheappraiserandspecificmaterialfailuretothestateboardand/or
regulatoryagenciesthatgovernthelocationofthesubjectproperty.Inaddition,theappraiser’s
approvalstatusonLandmark’spanelwillbeplacedonholdpendingthefinaloutcomeandfindings
oftheregulatoryagency.
 YouShouldKnow
1. Thebusinessofreportinganappraisershouldnotbetakenlightly.
2. Amaterialfailureisonethatwillsignificantlyaffectthefinalvalueoutcomefora
subjectproperty.
3. Onlyafteranindepthinvestigationintothecomplaintincompleted,andthe
appraiserhascompletedtheirappealprocess,willLandmarkbegintheprocess
ofreportinganappraiser.
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