Lender FAQ

Lenders Most Frequently Asked Questions (FAQ)

 

Lender FAQ Answers

How can I order an appraisal from you?

The most efficient way is through our website at www.appraisalpro.com using your company login.

How can we check the status of an appraisal?

We will email automated status updates, with every step of the process, via our Proprietary Online Order Management System. We’re also happy to answer any additional questions you may have over the telephone or via email.

How long does it take to fulfill an order?

Our promised turn around time for appraisals, including appraiser selection, scheduling, inspection and our thorough in-house Quality Control (QC) review, is between 5–7 business days after the order is requested. (current ACTUAL TAT is more like 4.4 days) We also have the capability to RUSH an appraisal request if so desired. We constantly strive to achieve fast turnarounds, while not sacrificing a quality product.

How do you make sure your appraisers are qualified?

We pre-screen all appraiser candidates for reliability, certification, quality and turn around time. We do this through our integrated “appraiser rating” system and our proprietary vendor management platform. Each of our appraisers is required to give us a copy of his/her current license, E&O insurance information and appraisal examples. We keep this information on file at all times and check the materials at regular intervals to make sure it stays up to date. Our system notifies us automatically should an appraiser’s information fall out of date.

Do you have a system in place to ensure that work performed by independent appraisers complies with USPAP standards?

Yes. Our quality control staff is highly trained to USPAP standards and are required to go through an in house USPAP training course. In addition, our QC process includes a spot check random review, by a CERTIFIED appraiser on staff, to ensure that we maintain the highest standards in the profession.

Do you retain records of your appraisal transactions?

Yes. AppraisalPro retains all data in our system which is stored on electronic databases. These databases are backed up daily, in two separate locations to ensure protection from data loss.

Do you offer your Appraisal Management Services nationwide?

Yes, we cover anywhere in the US!

What are the costs associated with this great service?

Remarkably – probably less than your Bank is already spending on doing these things yourself. Please refer to our Cost Calculator to determine your in-house appraisal process costs.

Is there a contract?

No! There is no contract to sign and we can have you set up and ordering appraisals in the same day.

We encourage you to give us a try! We are confident that you will quickly see the value in our services and in our team.

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