FAQs
Appraiser Questions
» How are you different from any other AMC?
Let me have an appraiser tell you.
A good tag line for you, in my opinion, would be this: I am not an AMC, I am a FIREWALL. Appraiser Fees based on quality, ethics, and competence matters!
We are NOT appraiser managers. Appraisers do not need to be managed. What they need is someone to advocate for them and allow them time to complete due diligence, ensure fair compensation for their services and provide a barrier against the pressures involved in the lending industry.
» How much do you pay the appraiser?
The appraiser is paid an average market fee. This is based solely upon the fees set by appraisers on the panel in the area. For example, Portland, Oregon average fees are $375 for URAR and $425 for the FHA appraisal. We then charge a management fee to our client on top of the appraiser fee. That is the amount charged to the borrower. In areas outside of the large metro areas, we are paying basically what the appraiser charges.
» If I offer you less than $375 will you give me more business?
No. Our company values do not allow us to assign appraisals based upon fees. There are two things that get you business – your quality of appraisal and your level of customer service. That does not mean that the client will automatically accept your fee if it is higher than average. We will always advocate for you, but we cannot make the client accept a higher than average priced fee.
From our Chief Appraiser: The local AMC's at least are the ones caring for the appraisers on a local level. The best appraisers that do the best quality and provide the best service are the ones that get the work. That is the way it should be and that is the way it was before. The cream always has risen to the top.
» How often do you pay and how?
We pay the appraisers every 2 weeks on the 1st and 15th for invoices submitted. Payment is issued via checks ran on the 1st and 15th. Depending upon check volume we get them in the mail the same or next business day. Around here we call it Appraiser Payday and we all try to help our accounting manager in getting those checks in the mail!
» How much work do you have?
We currently have 2 correspondent lender clients. Volume fluctuates. A large majority of our volume is located with Portland. However, we have the potential to receive Oregon, Washington, Idaho and California.
» Do you belong to any organizations?
Currently no we do not. Our Chief Appraiser does belong to NAR and PMAR in order to be a member of MLS. We do not agree with TAVMA’s missions and will not be joining them.