Open and effective communication is imperative to the success with any 3rd party relationship, and our mutual clients have come to expect nothing less from AppraiserVendor and its independently contracted appraiser panel. Our order fulfillment process was designed with our independently contracted appraiser partners in mind, and centers around the mutual trust we’ve established with them over the years. We allow our independently contracted appraiser partners to complete the appraisal process autonomously and status inquiries are only made when timely updates are not provided.
Providing updates within the parameters identified below will prevent any call or email inquiries from our Vendor Team:
We request our independently contracted appraiser partners up to 4hrs to accept an order once it has been assigned. Our Assignment Team will follow up via phone call to confirm acceptance once the 4hr window has passed. If we are unable to reach you, we will attempt to locate another independently contracted appraiser to accept the assignment.
Once an order has been accepted, AppraiserVendor requests a call be made in an effort to schedule within 24 hours of order acceptance. We understand that scheduling quickly is a matter of both parties connecting in a timely fashion and require our independently contracted appraisers to update the order with any attempts made or messages left with the access contact.
We request our independently contracted appraisers 48 hours from the time of the inspection to submit the report for review, unless another mutual agreement is made is advance. We understand that every assignment is unique, and sometimes things don’t go as expected. AppraiserVendor will grant additional time for completion so long as the request is made 2 days prior to the due date (or immediately post-inspection) and an open line of communication is kept regarding the ETA of the report.
Quality Control Review
(performed by licensed/certified/apprentice staff appraiser) – Once you’ve uploaded the report, AppraiserVendor will make every effort to perform our review within 4hrs of receipt. Every appraisal report is run through an automated rules engine that scrubs the report for standard guidelines as well as any lender specific rules that may apply to the review. If corrections are required, the review analyst will submit a request that will post to your profile as well as being sent out via email.
Once a corrections request is received, AppraiserVendor request 24 hours for submission of the corrected report. If 24hrs has passed and the revised report has not been uploaded, the Vendor Status team will follow up for an ETA on the revised report. If the appraisal report is already past due, our independently contracted appraisers can expect a call immediately upon issuing the correction.
Following delivery to the lender, revisions, commentary or additional support may be requested by the lender’s underwriting department. These requests are often the final item for the lender to clear the file; as a result, we require that these be addressed accurately and expeditiously as to avoid multiple requests or delays that may prevent a loan closing. Depending on the nature of the request, AppraiserVendor requests up to 24 hours to submit the revised report.