for Lenders

Why use an appraisal management company when you can just do it in-house?

Because, due to the Real Estate Settlement Procedures Act and rules promulgated thereunder, you cannot pass along the cost to the borrower.  When you use an appraisal management company, however, the costs can be appropriately allocated to the borrower.  When you don’t have to eat the costs, your bottom line gets a nice lift.

There are other benefits, too.  Our tracking and storage systems are fully transparent and automated, so it’s just like having your own local appraisal department.  You’re always updated on status changes and have full access to all documentation.  And our system security is always up-to-date.  But safe, efficient systems are just the icing on the cake.  The biggest benefit is compliance-related:

With us, you never have to worry about a compliance issue again.

We, along with our member appraisers, are HVCC-compliant, state-licensed, USPAP trained,  and responsible for compliance with all other laws and regulations, at all levels, related to our appraisals.  You have enough legal red tape to deal with.  Let us take some of the burden off your shoulders.

Click here to place an order.

Reports Offered to Lenders

The standard Fannie Mae summary appraisal report.

Considers market value trends, supply and demand, and marketing times.

Provides indicated value by cost approach, where appropriate.

Provides a sales comparison analysis grid with indicated value by sales comparison approach.

Quantitative adjustments to comparable sales Estimates a specific market value.

Summary appraisal report documentation, but includes extensive property information.

Provides quantitative adjustments to comparable sales Estimates a specific value.

Increases efficiency and reduces costs.

Considers market value trends, supply and demand, and marketing times.

Room count and actual square footage by GLA.

Notes condition of improvements, depreciation, repairs needed, and quality of construction.

Project and phase information includes number of units, number of units for sale, and number of units currently rented, which allows assessment for any location risk within the complex.

Small residential income property appraisal report for two- to four-family residences.

Provides neighborhood, site, and improvement descriptions.

Provides general description of subject’s physical structure.

Notes condition of improvements, depreciation, repairs needed and quality of construction.

Includes an analysis of market rents, with rental comparables Sales comparison, income approach, and cost approaches are all considered in estimating market value.

Includes rental comparables in familiar grid format.

Reports estimated market rent.

Reports income and expense projections for the next 12 months.

Helps estimate necessary cash reserves.

A review of an appraisal provided by a lender, to determine if the opinion of value in the appraisal is reasonable.

The subject property and comparables are not inspected.

The reviewer verifies lot size, GLA, sales price, and date of sale for the subject property and the comparables.

Same as the Standard Desk Review, with up to 3 additional sales comparables included.

A location map of the subject property and additional comparables is also included.

A review of an appraisal provided by a lender, to determine if the opinion of value in the appraisal is reasonable.

The subject property and comparables receive an exterior inspection from the street.

Photographs of the subject’s front and street, as well as the sales comparable’s front are included.

The reviewer verifies lot size, GLA, sales price, and date of sale for the subject property and the comparables.

Same as a Field Review, with up to 3 additional comparables provided.

A location map of the subject property and additional comparables is also included.

A review of an appraisal provided by a lender, to determine if the opinion of value in the appraisal is reasonable.

The subject property receives an interior inspection and comparables receive an exterior inspection from the street.

Photographs of the subject’s front, street and interior, as well as the sales comparables’ fronts are included.

The reviewer verifies lot size, GLA, sales price, and date of sale for the subject property and the comparables.

Update to a previous appraisal that was prepared subject to completion of repairs or incomplete items.

Notes items completed or still need to be completed since time of original appraisal.

Same appraiser performs reinspection who completed original appraisal report.

Allows lender to ascertain the current construction status of subject property without incurring the cost of another appraisal.

 

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