No calls for value checks.... Ahhh.... That silence is most welcome. But in return, appraisers have a new litany of issues with our new go-to-guys. I'm not trying to burn bridges here, just sending a note out into the blogosphere which include some friendly ideas. The following are suggestions to any AMC out there that may find these helpful ways to improve their business processes and ours.
Appraisals due within 2 business days (or in one case, 96 hours of accepting the assignment). You wanted quality or quantity? And so why then do I get questions on the appraisal nearly three weeks later? Was this really so urgent that it might get stuck in your own pipeline?
Get the appraisal request information correct before you send it to me. Please don't send me a ‘condition' as if it's my fault that you had the wrong company address on the original request.
Status calls. Please. Just. Stop. I promise, I remember when the appointment was set. I put it on my calendar. I promise, I will keep the inspection date. (What kind of appraisers are you used to dealing with?) I imagine I spend an additional 35 minutes on each file telling five different people that the appointment is still set for 3pm on Tuesday. And for crying out loud, when I give you a status, update the system!
Fees. The lower the fees the worse the companies to work with... trust me. Help me afford my rising phone bill from your constant status calls.
One AMC employee per appraiser file. This means when finding an appraiser for the file and when checking status and dealing with any issues. You're wasting everybody's time by sending all your henchmen out to get me. Seriously, hours have been lost with whatever system you're using. Better yet, let the appraiser choose their favorite AMC employee since they've already spoken with every one of them within the first week of working with your company.
Please note where you're calling. I live on the west coast. When you think it's okay to start calling me from Pennsylvania at 8am, you're really calling me at 5am. And while we're at it, why do you all work on Sundays?
Pre-set appointments. This annoys the customer to be called so many times and the appraiser who has to struggle to make the appointment by 5pm on a Saturday. Half the time I find the borrower can't even make the ‘pre-set' appointment time, anyway.
Promptness of Desk Reviews. I have done reviews from appraisals in January and even November. I feel for these borrowers that are waiting six months to close a loan! I realize this might not be a clog in your pipeline, but it makes me curious.
Please be as diligent about checking your emails, voice mails and web forms for information that your appraisers need.
Here are some of the urgent matters that have taken weeks to sort out:
- House that is on the market for re-fi. Who do I contact? No one at the AMC bothers to answer and so I continue on with my inspection.
- The house is less than 500 square feet. I know that some lenders will not accept smaller abodes.
- Waiting for purchase agreement... and waiting .... And waiting.... Believe me, loan officers had this to me yesterday.
- Waiting for correct contact number. It's usually not until I get a status call from an actual person that I can successfully rely the information about the lack of a correct contact number. I'm not sure that they read their web forms.
Have your appraiser's information on hand. I do tire of answering the same AMC pre-qualifying questions about my appraisal license, what areas I cover, what type of appraisals I'm willing to do, etc. I filled out a five-page form when I signed up for you. Where did you put it?
When I tell you that I have all of the qualifications you are looking for and you say that you are sending an appraisal over, please send it over. I would say about 10% of the time after I have verbally accepted your order; I never get the request.
Give your appraisers a heads up. If you know the property is a manufactured home, on acreage, complex, a pre-construction etc. please don't keep that information a secret.
Why am I purchasing additional software to send a different format file for appraisals? OK, this whole AI Ready/ENV format? I'm sure it's for data mining purposes and I have to pay for the lousy upgrade to convert the files. There goes $300.... That's like two appraisal fees these days.
I hope this has helped you as an AMC. I don't mind taking your criticisms and so I assume that you would welcome mine with open arms.
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