HVCC Compliant Appraisals Don’t Require an AMC
If you are a lender and subscribe to the Mercury Network, you can choose your local appraiser and stay HVCC compliant. This service is not an AMC, and it is FREE for lenders and for others who need hvcc appraisal ordering. Appraisers pay a small fee for the use of this service – as opposed to the huge haircut taken by AMCs from the fee paid by consumers for a property appraisal.
Appraisal Practice, Post-HVCC
Since the HVCC took effect in 2009, the Real Estate Appraisal Industry has been unnecessarily challenged by:
- Marked-up fees, which hurt your client relationships
- Long turn times, which damage your reputation as a lender
- Less-than stellar service by less-experienced appraisers
- Out-of-area appraisers that lack the required familiarity to appraise property in assignment areas
Many experienced appraisers have shuttered their businesses as a result of the passing of the HVCC – the fees taken by the middlemen frequently do not leave sufficient compensation for experienced appraisers to keep their businesses (and their employees) afloat. This is a shame – a law designed to protect has wrecked havoc on an industry.
The Next Generation of HVCC Compliant Appraisals
Your mortgage practice depends on your clients, and referrals from satisfied clients. What will happen if your loans don’t close – because an appraisal came in high or low, and jeopardized the transaction? Will you lose clients? Will your business survive?
Inexperienced appraisers will frequently work for less than seasoned appraisers, and less experience in a market area means home valuations that are all over the map. Do you really want your clients to pay $450 to $500 for an appraisal where half of that is kept by a middleman? Have you reviewed the quality of some of the appraisals you’ve received this year? Would you rather have a higher, consistent quality, from an appraiser willing to go the extra mile to ensure that the valuation of a property is that which is most clearly indicated by the available market data for an area? Isn’t accurate valuation the point?
The Mercury Network is an online appraisal Vendor Management Platform that lets you order real estate appraisals from local appraisers, in every county, from any web-accessible computer. You can use the Mercury Network and still maintain your HVCC compliance!
Try the Mercury Network
Please give the Mercury Network a try for your Austin appraisals as well as your other Central Texas appraisals.
It’s free for you and helps you keep track of orders, get automatic status updates and keeps an ongoing audit trail for compliance records. Your quality control rules run on the appraiser’s desktop before delivery, so you’ll eliminate phone tag and save time and money. You can use your existing appraisers, add new local appraisers, and augment with other appraisers on the Mercury Network when you need them.
We Need Your Business
We are a small appraisal firm, local to Austin, and we need your business. Let us demonstrate our efficient and professional service which will deliver high-quality reports when (or before) you need them.
We trust the Mercury Network because it’s managed millions of transactions for appraisers and mortgage pros since 2002. This is a win-win for everyone: you, your customers, and the little guys like us – the small, family-run appraisal service businesses that have taken a huge hit with the advent of the Appraisal Management Companies (AMCs).
Get Started Using the Mercury Network
Visit the Mercury Network website. Or, give a la mode a call at 1-800-434-7260. The Mercury Network is a service offering from a la mode, the leader in real estate technology. The helpful folks at a la mode can answer your questions and give you a personal walk through.
Our Service Area Map shows that we appraise property in Travis County (we live in Austin), as well as Williamson, Hays, Caldwell and Bastrop counties.
We sincerely hope that you’ll try the mercury appraisal network, and Appraisal IQ – the Intelligent Choice.
To read some excellent articles about the Mercury Network and the HVCC, please read the Mercury Network Blog.