At t it ud e Q u a l i ty Tr u st Conve n ie n ce Re spon sive ness

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1 Lincoln Appraisal & Settlement Services PO Box 6761 Providence, RI Phone: Ext.100 Fax: At t it ud e Q u a l i ty Tr u st Conve n ie n ce Re spon sive ness

2 incoln Appraisal & Settlement Services, a national Appraisal Management (AMC) & Settlement Services Company founded in 1998, is a premier provider of a full suite of Residential, Commercial, and specialized Appraisal, Title, and Closing services/products to the real estate industry. Our clients include some of the nation s largest lending institutions, mortgage brokers, investment banks, law firms, mortgage insurance, and mortgage servicing companies who came to us based on our outstanding reputation for providing fast, accurate, high-quality Real Estate Valuation, Appraisal Management, and Settlement Services Nationwide. We believe in honesty, loyalty, and building successful long-term business partnerships with our clients and vendors. These traits infuse everything we do, maintain our commitment to the Lincoln Appraisal & Settlement Services 5 Core Values, and have resulted in consistently being recognized for outstanding operational excellence. We are the Home of Experienced Nationwide Leadership. The Mission of Lincoln Appraisal & Settlement Services is to develop successful, long-term, personalized business partnerships with our clients by delivering fast, accurate, high-quality Real Estate Valuation, Appraisal Management and Settlement Services Nationwide. 2

3 The Lincoln Appraisal & Settlement Services 5 Core Values: Attitude: At Lincoln Appraisal & Settlement Services we hire for attitude first and foremost because we understand any great company starts with a great attitude positive, passionate, and energized! Quality: At the heart of everything we do is an unwavering commitment to outstanding quality. The accuracy and quality of our valuations, reports, and work is second to none. Trust: We recognized long ago trust is the foundation for very successful long-term business partnerships and relationships. This is why we work diligently to gain and build a deeper level of trust with our clients and vendors every single day. Convenience: We strive to make working with us as simple and easy as possible. Our investments in people, technology, and infrastructure are exactly for this purpose. Responsiveness: The highest level of personalized service can only be delivered by an important sense of urgency and impeccable attention to detail. Working with us you can remain certain we will be relentlessly committed to both. 3

4 Headquarters: Lincoln Appraisal & Settlement Services PO Box 6761 Providence, RI Phone: Fax: Year Founded: 1998 Description: Lincoln Appraisal & Settlement Services, a national Appraisal Management (AMC) & Settlement Services Company, is a premier provider of a full suite of residential, commercial, and specialized appraisal, title, and closing services/products to the real estate industry. Our clients include some of the nation s largest lending institutions, mortgage brokers, investment banks, law firms, mortgage insurance, and mortgage servicing companies who came to us based on our outstanding reputation for providing fast, accurate, high-quality real estate valuation, appraisal management, and settlement services nationwide. For more than a decade, we have raised the standard for excellence in our industry by consistently delivering the highest quality of work and the most exceptional personalized service in comparison to any of our competitors. Product/Services: Nationwide Services include: Residential Appraisals Commercial Appraisals FHA Appraisals REO Appraisals + Reviews Appraisal Value Reconciliations Loan Portfolio Quality Assurance Reviews Foreclosure Appraisals + Reviews BPO s (Residential + Commercial) Title + Closing Services Complex + Specialized Cases Fraud Detection Significant Milestones: Opened Lincoln Appraisal & Settlement Services Lincoln Appraisal & Settlement Services celebrated their 10th year anniversary Employees:

5 George Panichas Chairman & CEO George Panichas is one of the founding partners of Lincoln Appraisal & Settlement Services. For 10 years, George has been instrumental in leading the company forward; rapidly growing the organization from a regional firm to a national Appraisal Management & Settlement Services Company. George has been the driving force behind the development of the company s state-of-the-art OpenBOX LASS Technology Solution, the implementation of Client Specific Customized Service from Dedicated Client Service Teams, and the company s complete expansion to become a premier provider of Real Estate Valuations & Settlement Services. George began his career as an investment banker in the private capital markets both nationally and internationally. His concentration has included working in various industries such as: Communications, IT, Consumer Services, and International Shipping and Finance. George brings decades of experience in Management, Sales & Marketing, and Strategic Planning & Development to the Management Team at Lincoln Appraisal & Settlement Services. He places a high value on building an outstanding National Firm which conducts itself with exceptional Professional Integrity. In addition to being involved in numerous civic and educational organizations, serving in various capacities, George has been married for over 16 years and has two children that keep him wonderfully busy. George Demopulos President & Chief Corporate Appraiser George Demopulos is one of the founding partners of Lincoln Appraisal & Settlement Services. For over 15 years, George has been a Certified Residential Appraiser in 5 New England states and has extensive appraisal experience in all aspects of appraising including: Retail, REO/Foreclosure, Complex Properties, Field and Desk Reviews, Appraisal Compliance, etc. Over the years George has served as a Supervisory Appraiser for many industry Appraiser Trainees and currently oversees Lincoln Appraisal & Settlement Services Nationwide Corporate Appraisal Network (NCAN) Evaluation Team which manages 6,000+ Appraisers Nationwide. George is also in charge of hiring all Chief Appraisers who lead Lincoln Appraisal & Settlement Services industry-leading Corporate Appraisal Internal Review Teams (CAIRT). George began his real estate career in the late 1980 s in Property Management with Ferland Property Management followed by Real Estate Sales with Coldwell Banker. He then joined Massachusetts-based Property Financial Appraisal Services (later First American Appraisal Services) in 1991, where he rose to become one of the selected few Regional Managers for the company. George has 100 s of hours of class experience and has attended many of the industry s top conferences through the years. He belongs to many industry organizations including; The Appraisal Institute (Associate Member), The MBREA (Massachusetts Board of Real Estate Appraisers), NAMB(The National Association of Mortgage Brokers), RIAR (The Rhode Island Association of Realtor) and NAR (The National Association of Realtors). George graduated from George Washington University with a degree in Economics. 5

6 Debra Vitale Executive Vice President of Operations Debra Vitale is responsible for all aspects of operations at Lincoln Appraisal & Settlement Services on a day to day basis. Debbie employs tremendous work ethic, as well as keen understanding of all corporate systems, processes and procedures. Debbie relentlessly pursues the company Mission of delivering High-Quality Real Estate Valuation, Appraisal Management, and Settlement Services with a personalized touch only coming from the most outstanding customer service and the highest quality standards in the industry. Debbie provides leadership and management expertise in operations resulting in stellar daily execution and has allowed the business units at Lincoln Appraisal & Settlement Services to be recognized for Operational Excellence numerous times over the past 5 years. Debbie has about 20 years of legal experience in prestigious national & international firms such as Brown Rudnick Berlack & Israel and Higgins Cavanagh & Cooney. While at Brown Rudnick Berlack some of her assignments included work for the Rhode Island Bankers Association, working with the managing partner of Government Relations for the entire firm, while working very closely with lobbyists and legislature, and working for one of the partners who served as a Special Master for the US District Court for the Eastern District of California overseeing prison reform compliance. Debbie has been instrumental in the growth, expansion and policymaking at Lincoln Appraisal & Settlement Services and her coworkers love that she is a dedicated and down to earth team leader for the company. When not at work Debbie enjoys traveling with her two children and husband. Enid Cohen SVP of Quality & Compliance Enid Cohen has been in the Real Estate Appraisal industry for over 23 years. In her current position as Senior Vice President of Quality and Compliance at Lincoln Appraisal, Enid leads and works closely with a team of appraisers to ensure standards are met, going above and beyond client expectations daily. For the past 7 years, Enid previously worked in many different capacities at First American A ppraisal Services/eAppraiseIT. She started at the company as a staff appraiser and worked her way up to Manager of Quality Control. Prior to that, Enid gained industry experience working at Strategic Mortgage Services, TRW Appraisal Division, and Appraisal Services of New England as a Staff Appraiser. professional career as a staff appraiser at Appraisal Services of New England. Enid graduated from the University of Rhode Island with a bachelor s degree in speech communication. She holds real estate residential certification licenses in the states of Massachusetts and Rhode Island. Enid is an avid believer of continuing education and is passionate about learning. Some recent courses she has taken include: The Professional s Guide to the Residential Appraisal Form and most importantly, How to Meet Client Expectations. 6

7 Rita Norris SVP of Quality & Compliance Rita Norris has been in Real Estate Valuation industry for over 25 years and has been an exceptional real estate appraiser this whole time. Rita is currently Senior Vice President and Co-head of Quality & Compliance at Lincoln Appraisal & Settlement Services. Rita is also a Chief Appraiser and is one of the selected Management Team Members who evaluates every internal Corporate Appraiser who is added to the company s Corporate Appraisal Internal Review Teams (CAIRT) who are known for implementing an industry-leading Corporate Appraisers Quality Control Management Process. Furthermore, Rita has been instrumental in leading the development of Lincoln Appraisal & Settlement Services Nationwide Corporate Appraisal Network (NCAN) who are the most experienced and dedicated Appraisers in the industry today. Rita started out as a self-employed appraiser and then worked for many other well known appraisal companies such as: Delta Funding, Equity Tile and Closing Services, Aegis Mortgage Corporation, and Collateral Risk Solutions before joining Lincoln Appraisal and Settlement Services. Rita maintains tremendous knowledge around all State, Federal, HVCC, USPAP, Freddie Mac, Fannie Mae, and how FHA s guidelines, compliance and regulations. Rita continues to participate in continuing education programs, seminars, etc. and most importantly to keep abreast of the current real estate trends, market conditions, regulations, methodology, among other things. In her spare time Rita is a participant of St. Rita s Church and active in Women s Club and Choir and what she enjoys most is the time spent with her family; especially her grandchildren. Josh Bresette Executive Vice President Josh Bresette leads and manages the Sales, Marketing, Public Relations, and Strategic Business Development initiatives for Lincoln Appraisal & Settlement Services. In addition Josh is President at Bresette + Company, where he oversees the development of strategic initiatives for the company s existing client base. Josh has helped develop numerous strategic marketing and business plans across the following industries: Financial Services, Real Estate, Consumer Products, Healthcare, Technology and Professional Services. These executed plans have enabled companies to experience tremendous growth, secure many different types of financing as well as be sold at higher than average valuations. Prior to Bresette + Company, Josh served as an Associate for Morgan Stanley Dean Witter in the Fixed Income Derivative Products Group, the most profitable area of the investment banking firm at that time. Josh also served as an Associate for Chase Securities, Inc. Equity Derivatives Group in the Investment Banking Division of the Chase Manhattan Bank, where he managed the execution of proprietary trading strategies, and worked for Dun and Bradstreet China in Shanghai as the Operations Manager for China. Josh is a graduate of Union College in Schenectady, New York, with bachelor s degrees in both History and English Literature. Most recently, Josh completed two Harvard Business School Executive Education Program s entitled Managing Brand Meaning and Leading Professional Service Firms, and he is currently enrolled in a highly selective three year HBS Owner and President Management (OPM) Program. In addition, he is a member of the Entrepreneur s Organization (EO), an avid supporter of theater and the arts, and loves reading, yoga, and travel. 7

8 Janine M. Atamian, Esq. Executive Vice President of Settlement Services Janine leads and manages the Title, Escrow & Closing Division for Lincoln Appraisal & Settlement Services (LASS). Janine has worked in the mortgage industry for over 15 years and has experience as a loan originator, processor, funding manager and compliance officer. At LASS Janine is responsible for all aspects of settlement services operations and was instrumental in developing the comprehensive training program for Title, Escrow & Closing Division personnel. Janine makes certain her division remains well versed on the nuances within the settlement process which vary from state to state, and ensures they always take a complete proactive approach to curative work. Janine has handled mortgage broker, banker and originator licensing in 33 states, as well as Freddie Mac and FHA approvals. She has extensive experience in representing brokers and bankers in regulatory compliance audits and repurchase demands as well as all aspects of Settlement Services. Prior to Lincoln Appraisal & Settlement Services Janine founded and ran a successful nationwide title company. Janine graduated from the Pepperdine University School of Law and completed a fellowship in M.D.R. at The Straus Institute. 8

9 The following are articles written by Senior Executives of Lincoln Appraisal & Settlement Services and the magazines they were published in: 1. Does Your Lender Use the Right AMC Scotman s Guide March Issue 2. FHA Independence Policy and FHA Appraisal Requirements Secondary Marketing Review April Issue 3. Respa Changes Scotman s Guide June Issue 4. 7 Key Underwriting Requirements from an Appraisal Management Perspective Secondary Marketing Executive June Issue 9

10 1. Citizens Bank Celebrates 10 years with Lincoln Appraisal & Settlement Services. 2. Lincoln Appraisal and Settlement Services announces continued 100% Compliance with FHA Appraisal Guidelines. 3. Lincoln Appraisal & Settlement Services adds California Wholesale Mortgage Lender to National Client Base: JMAC Lending selects new National Appraisal Management Company. 4. Res.Net Approves Lincoln Appraisal & Settlement Services for Appraisals and BPO s: National Appraisal Management integrates with Comprehensive Workflow Management System Provider. 5. Lincoln Appraisal & Settlement Services declares new partnership with Generation Mortgage Company: Top Reverse Mortgage Wholesale Lender selects Leading National Appraisal Management Company. 6. Leading Wholesale Mortgage Company signs Exclusive Deal with National Appraisal Management Company: Lincoln Appraisal & Settlement Services Expands Wholesale Mortgage Clientele by Adding Chicago-Based InterBank Lending. 7. Lincoln Appraisal & Settlement Services Expands Wholesale Mortgage Clientele by Adding Genworth Financial: Top Tier Wholesale Mortgage Company based in California teams up with National Appraisal Management and Settlement Services Company. 8. Lincoln Appraisal & Settlement Services President and Chief Corporate Appraiser Achieves SRA Designation. 9. Lincoln Appraisal & Settlement Services announces LiveWell Financial as new Wholesale Reverse Mortgage Client. 10

11 incoln Appraisal & Settlement Services proprietary OpenBOX LASS Technology Solution provides 24/7 real time access, easy order entry, and comprehensive tracking and reporting! Complete End-to-End Solution: Lincoln Appraisal & Settlement Services OpenBOX LASS Technology Solution is a complete end-to-end solution. Customization: Built to adapt to your needs, the OpenBOX LASS Technology Solution contains powerful customization tools. Easily and effortlessly add tables and fields, create and modify forms, and much more. Integration: The web-based three-tier architecture delineates the data layer from the user interface and business logic. The OpenBOX LASS Technology Solution offers COM-based interfaces to its object model to facilitate easy integration with other applications. Analytics: The OpenBOX LASS Technology Solution includes pre-configured reports and queries in various formats including text-based and charts. Create your own reports and queries with the easy report builder and save them as sub-menus for easy access any time. Deployment: With its strong architecture and customization tools, the OpenBOX LASS Technology Solution can be up and running in days. Customers work jointly with Lincoln Appraisal & Settlement Services IT Professionals to reduce implementation costs. Training: Lincoln Appraisal & Settlement Services offers comprehensive training to all clients at NO COST. Security: The OpenBOX LASS Technology Solution contains multi-level security settings at the group, user, form, field, record and command levels. Users log in to access the portal, which supports the SSL protocol. 24/7 Easy Access via Web Browser: The OpenBOX LASS Technology Solution is completely web-based and operates from your browser. There is no code required at the client level. No need to download plug-ins or applets. Standard browser access using open technologies like HTTP and XML provides all the functionality you need. Workflow: Configure the workflow to match your process. Each step in the workflow stream can bring up a customized form. Access to the customized forms and fields is based on the role-based security model that is set up for users. 11

12 (CAIRT) Corporate Appraisal Internal Review Team incoln Appraisal & Settlement Services has the most experienced, talented, and capable Corporate Appraisal Internal Review Team in our industry. They all have proven leadership expertise and at the minimum have the following required of them: Must be licensed and/or certified appraisers with at least 12 years of experience. Must administer all internal quality control reviews (reviews are always done by real people and are never automated). Must conduct themselves with exceptional professional integrity. Must participate in our Comprehensive Corporate Appraisal Review Training Program. Must take part in Continuing Education Programs and demonstrate knowledge improvement. The Chief Appraiser In addition, Lincoln Appraisal & Settlement Services have Chief Appraisers (who lead the Corporate Appraisal Review Teams) and are the third level of our industry-leading quality control process. The Chief Appraisers have wide backgrounds in lending, appraising, settlement services, and fraud detection. Many of the Chief Appraisers belong to numerous industry associations, have written articles and books, as well as have taught industry seminars. For example, most Chief Appraisers have taught seminars for underwriters, mortgage brokers, loan officers, etc. in order to demonstrate how to properly read and analyze an appraisal report. 12

13 (NCAN) Nationwide Corporate Appraisal Network t Lincoln Appraisal & Settlement Services we consistently attract and screen appraisers from around the country in order to maintain the finest Nationwide Appraisal Network (NCAN) available in the industry today. All prospective appraisers must submit a completed application including samples and references to Lincoln Appraisal & Settlement Services for an extensive and thorough review. Our Appraiser Network Evaluation Team, which includes certified appraisers, reviews each application carefully and talks with references to determine if the applicant has adequate experience and ability to provide appraisals of the highest quality and to our key standards of excellence. Following this, an in-depth analysis of the appraiser s methodology is conducted through direct discussions with the applicant in order to further verify superior competence. If an applicant does not meet our unparalleled industry-leading standards, their application is rejected and will not be given future consideration. In addition, Lincoln Appraisal & Settlement Services makes certain of the following: All our appraisers must demonstrate an extensive understanding of the appraisal process and most up to date standards which are practiced. All our appraisers must be licensed in the states they work and carry full Errors and Omission Insurance. All our appraisers must be in compliance with the updated USPAP educational requirements and perform all appraisals in full compliance with USPAP, Fannie Mae, Freddie Mac, and all applicable state and federal laws and client guidelines. All our appraisers must have their licenses verified (on an on-going annual basis) to ensure all are up-todate and no formal complaints have been registered against them. As on-going maintenance, ASC.gov is referenced bi-annually as a source to verify an appraiser s license, effective dates and to monitor that an appraiser has continue to maintain no disciplinary record. All our appraisers must be trained and demonstrate competency in the use of our interactive, proprietary software which allows our clients to order online, check status online, and receive critical notes and updates from our appraisers and support staff. 13