It seems that you only have two options to manage your appraisals: outsource it to an AMC or manage the business internally. While both have their pros and cons, here is a third better idea - customize it yourself and let someone else manage it.
InHouse Custom reinvents traditional appraisal management by giving you the options to customize your appraisal process while still outsourcing your appraisal needs to a trusted third-party vendor.
It all starts with a free consultation. We'll take the time to learn and understand your business goals and objectives. Together we will build a custom appraisal process that meets your needs in every way possible. Email Chuck Johnson today at chuck.johnson@inhouseusa.com or call us at 888-824-9885.
Whatever you want is the best way we can explain it. You design every aspect of your appraisal process in any way you want and we'll implement it and manage it. Think of it as creating your own internal appraisal management department without any of the costs.
Determine the way you want your appraisals to be paid. At the point of appraisal order originators can pay for appraisals using a major credit card, pay by electronic e-check or you can allow the ability to invoice for a specific business channel.
Once an appraisal order has been placed you tell us what the next step or steps are. For example, we can approve each order for TILA compliance, screen each order against your underwriting guidelines, run an AVM of your choice, call the borrower immediately to schedule an appointment, or anything else you decide.
Automatically or manually assign appraisers according to the rules you set. You can fine tune appraiser selection down to a monthly volume and zip code, or you can let the system randomly select an appraiser, or you can let your coordinator select. It's really your choice.
What are the Service Level Standards you demand for your business? Do you need reports back within 4 days? 5 days? Or perhaps you'd rather wait 7 days and pay less for each appraisal? Depending on what you want your service levels to be, we'll set policies and procedures in place to meet your expectations.
Fine tune your quality control process to fit within your underwriting needs. There can be no review, review to a checklist, review for value, review in conjunction with an AVM, or review to an investors checklist. You control the process completely.
Which appraisers to add and how much to pay them is your choice. Your parameters can be set to any level of your hierarchy, whether that be at a branch level or perhaps a regional level only. If paying the appraiser full fee is important let's do that. If you want us to negotiate the lowest fee we can do that as well. We don't control your business model.
There's more to appraisal management that just assigning, following up and reviewing appraisal orders. Some things to think about: Are you properly licensed in each state to engage appraisers? How and when do you want to pay your appraisers? Do you want to use an exclusionary list or an approved list? Will you continually recruit/filter your appraiser list? How will you deal with disciplining/reporting appraisers? Tell us how you want us to manage your business.