Apex Appraising
Weston Groll, Utah Certified Residential Appraiser, FHA approved. One to four unit residential property from Ogden to Provo, Tooele to Park City and Heber City.
Visit Apex AppraisingGood appraisal management is a rotation you can defend.
How AMCs keep appraisals independent and on time, and how to measure the panel that does the work.
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What does an appraisal management company do?
An appraisal management company, or AMC, sits between a lender and the appraisers who value its collateral. It takes the order, assigns it to a qualified appraiser on its panel, tracks it, reviews the finished report and delivers it to the lender. The borrower usually pays for the appraisal. The lender orders it, most often through an AMC.
Done well, it helps every party. The lender gets independence and consistency. Appraisers get regular work and one set of expectations. The borrower gets a value nobody with a stake in the loan could steer.
- Independence built inLoan production staff never pick or pressure the appraiser, which is what appraiser independence rules require.
- One desk for every marketA lender working across many counties gets one ordering process instead of dozens of relationships.
- Review before deliveryReports are checked for completeness and support before they reach underwriting.
- Panel upkeepLicenses, coverage areas, FHA roster status and insurance are tracked in one place.
What does a compliant rotation look like?
A rotation spreads assignments across qualified appraisers by a rule you can explain, instead of by habit or by who answers the phone. Your compliance team sets the details. The basic shape rarely changes.
Qualify
Only appraisers licensed for the property, competent in the area, and on the FHA roster when the loan is FHA insured.
Rotate
Offer the next assignment to the next qualified appraiser in order, not to a favorite.
Document
Record why an appraiser was skipped or chosen out of turn, every time.
Separate
Keep anyone with a stake in the loan out of selection and away from the appraiser.
Which performance metrics should you track?
Rotation keeps the panel fair. Metrics show whether it is any good. Track these four for each appraiser.
Turn time
From assignment to delivered report, and how often the due date is met.
Acceptance
How often offered assignments are accepted, and how fast.
Revision requests
How often a report comes back for corrections, and why.
Reconsiderations of value
How often a value is challenged and what the review found.
Run your panel on Pocket Appraisal
For AMCs, correspondent mortgage brokers and lenders. Pocket Appraisal helps you manage your appraiser panel in a compliant rotation that provides performance metrics.
Rotation and measurement in one place, so the panel you can defend is also the panel you can improve.
Recommended appraisers in their local markets
If your panel needs depth in Utah or north Phoenix, these are the appraisers we recommend.
TyCorp Inc
Tyler Kane, Certified Residential Appraiser, FHA approved. North Phoenix and the northeast Valley.
Visit TyCorp IncHow to get started
Tell us what you manage today and what you want to fix, whether that is rotation, turn times, panel depth in a market or reporting. We will reply by email.
Common questions
Does a lender have to use an AMC?
No. A lender can manage appraisers directly, as long as appraiser independence is kept. Lenders often use an AMC because it builds that separation into the process and covers more markets.
Can a loan officer choose the appraiser?
No. Appraiser independence rules keep the lender's production staff, the agent and the borrower from choosing or influencing the appraiser on a loan. Selection belongs to a process they do not control.
Who pays when an AMC handles the order?
The borrower usually pays. The lender orders the appraisal, most often through an AMC, and the appraiser's client is the lender rather than the borrower.