Will Independent Fee Appraisers Recover Under HR4173?The Dodd-Frank Act may help appraisers and mortgage professionals re-gain some of the footing they lost with last year's implementation of the HVCC.
Go To: Appraisal Ordering for Regulatory Compliant Appraisals.
Get Ahead of the CompetitionAre you ready to try something different? Can your business survive another year if you don't? Keep reading! We are independent fee appraisers and we want to earn your trust and to earn your business. We don't think your business or your customers should be suffering for the mis-deeds of a few rogue banking industry members.
The HVCC Sunsets in November of 2010Although the HVCC sunsets in November of this year, we expect that many lending institutions will still route their appraisal orders through some sort of appraisal management company, or vendor management platform. Many of the intentions of the HVCC were reasonable, such as the desire to eliminate pressures on independent fee appraisers to "come in at value" for a transaction (in order to stay on someone's appraiser roster). We've been signing up mortgage professionals this week for the Mercury Network, a vendor management platform (VMP) from a la mode. A la mode, if you're not familiar with the name, is behind a huge percentage of the transactions in the real estate industry across the country. We use a suite of software from them to manage our appraisal orders for Austin & Central Texas Real Estate.
The Mercury Network for Appraisal ManagementA la mode's entry into the AMC-alternative appraisal ordering management market is the Mercury Network. This well-crafted appraisal ordering and management platform lets mortgage professionals better manage their own business by giving them pin-point control over the routing of their appraisals and provides real-time status information. Some of the benefits of the Mercury Network include:
- We pay the fee, on a per-appraisal basis and we don't pass this on to you or your customers. This means that our normal appraisal fee is the same whether you order your appraisal directly from us, or via the Mercury Network. If you send us a lot of business, we can also negotiate a discounted rate.
- You can add us to your appraiser roster, still keep the appraisers you already know and trust and still maintain regulatory compliance. Give us a try - you will be impressed with our professionalism, turn around times and the quality of our appraisal reports.
- This service is web-based and uses the latest in work flow technology to keep your orders in order. Have you had any deals go south this year because of appraisal problems?
- The Mercury Network can help you navigate the mountain of regulatory compliance for each appraisal order: HVCC, FHA, GLBA, Interagency Appraisal and Evaluation Guidelines, FHFA's MISMO XML requirements, etc.