APPRAISAL MANAGEMENT, LLC

A Company Designed By Appraisers

Mission Statement

To provide responsive, accurate appraisal services to that portion of the lending industry wishing to be Appraisal Code compliant.

Compliance

In today’s lending world, it has become increasingly important to disassociate our individual lending and brokerage institutions from any appearance of improper conduct that could subject our operations to sanctions by those who can and will. Court case settlements and pending national legislation have enacted an Appraisal Code that will assist in keeping everyone in the safe zone. A copy of this code is available through our Company representatives and on this web site.

Industry Need

Mortgage fraud is a large and growing problem that warrants significant attention. The mortgage lending industry has lost billions of dollars as a result of fraudulent actions and the sum has risen drastically in recent years. Though the lender is the direct victim of mortgage fraud, fraud harms honest homeowners and homebuyers through increased housing costs. Schemes that include inflated appraisals, for example, drive up property tax assessments and foreclosures resulting from fraud and depress surrounding home prices. Through the enactment of the Appraisal Cosde, steps have been taken to protect all who engage in this lending process.

Who Benefits

Through our Company, all associated in the loan process will be protected. Appraisal Management, LLC is in full compliance with all aspects of the new Appraisal Code and its stipulations. As our operations are fully explained and understood, it will be clear that as simple proven procedures are followed, the lender and staff are maintained in a safety net of compliance to all current and future guidelines and recommendations; the trusted appraiser has the opportunity to maintain a level of business he has worked hard to establish and the cost of the appraisal process will remain relatively unchanged.

How It Works

Appraisal Management, LLC has an established Internet web page through which appraisal orders will be processed. These orders will be processed and randomly assigned to the proven, professional appraisers pooled for each individual lender. The appraisers working with Appraisal Management, LLC will be screened periodly to ensure work compliance with all State, Federal, and USPAP compliance.  A minimum of 10% of all appraisals will be reviewed for accuracy, USPAP compliance, and compatability with industry standards.  Compliance to pending requirements dictate that communication and engagement orders pass through a neutral third party.  Appraisal Management, LLC provides this communication and work assignment service.

Appraisal Management, LLC also provides through advanced technology, instant feedback on the status of each order in progress. Each lender has an assigned log-on user name and password so that every aspect of the appraisal process can be reviewed at any time privately. The lender is also emailed as each step of the appraisal process is completed. Billing services are completely handled through Appraisal Management, LLC so complicated account receivable issues will be made simple for the lender and the appraiser. All lender/client accounts payable checks will be escrowed and appropriately dispersed to the appraisers. Appraisal Management, LLC also offers the option of processing major credit cards. This financial commitment by the homeowner limits mortgage shopping, thus increasing profits and saving the time and money of the lender.

What To Expect

This part is quite simple. The lender can expect a complete appraisal processing package that is fast, accurate and legal. The Appraisal Code allows for value reconsiderations. This will be handled through the communication process provided by the Appraisal Management, LLC staff. This buffers the lender from accusations of undue value influence. In short, this service provides the lender a stress free, compliant appraisal service environment. Whatever your experience has been in the past, this will be better and you will never have to worry about compliance issues again. Consider us your Posture-Pedic appraisal provider.

Costs / Turn Times

The lender cost for appraisals are established within a normal market acceptable fee schedule.  This fee schedule is found on this web site.  If the lender or appraiser requests a fee change, that will be worked out through Appraisal Management, LLC. Appraisal Management, LLC’s fee for its service is always $60.00 per order. This amount is the differential between the amount paid by the lender and the amount received by the appraiser. Most AMC’s (appraisal management companies) charge 45 – 60 percent of the fee.

Turn times for the order are quick by industry standards. Appointments are encouraged to be scheduled the same day the order is received and returned within 2 business days after the property is inspected. As mentioned before, the completion status of each order is updated through the net and forwarded to the lender as each step is completed.

Our efforts and operations are designed to simplify the appraisal process, help in putting to action your desires to eliminate fraud in our system and assist in the success of your operation.

We hope to have you on board soon.