Top 10 questions lenders want answered in Appraisal Management

Top 10 Questions Lenders Want Answered NOW!

www.Nationwide–Appraisal.com 888-760-8899

What’s on the agenda?

• Top 10 questions

• Interactive Q & A

• What you should be asking

• Answers to look for

• Examples of how we do things at NAN

National Sales Manager

Kevin Johnson Joni Pilgrim Director of Sales &

Business Development

Quick Poll Who’s with us today?

Are you truly Nationwide? What you should look for: • AMC’s outsourcing to other AMC’s- high cost of compliance

• Proper people in place to manage panel

• Outsourcing = high risk to lenders

• Ask about State Registrations

• Over 30 states with current requirements in place

• Major expense for smaller AMC’s

• Would rather outsource than pay to register

At NAN… • Vendor Relations Team - manages 10,000 appraiser member panel

• State Registration Certificates posted on website and on each order

• Everything handled under one roof- OURS!

Do you pay reasonable fees to appraisers? What you should look for:

• Customary & reasonable fees = Compliance

• Pay well= Quality

• AMC’s who don’t care will be gone

• States have their own requirement with regards to payment

• Ask what they pay their appraisers

• Review their C & R fee policy

• Ask appraisers!

At NAN… • Review & update fee schedule quarterly

• Industry surveys

• Internal historical reporting

• Adjust for economic changes/trends

• C & R policy available – Compliance Portal - www.Nationwide-Appraisal.com

Do you pay reasonable fees to appraisers? What you should look for:

• Customary & reasonable fees = Compliance

• Pay well= Quality

• AMC’s who don’t care will be gone

• States have their own requirement with regards to payment

• Ask what they pay their appraisers

• Review their C & R fee policy

• Ask appraisers!

At NAN… • Review & update fee schedule quarterly

• Industry surveys

• Internal historical reporting

• Adjust for economic changes/trends

• C & R policy available – Compliance Portal - www.Nationwide-Appraisal.com

How do I go about getting an appraisal issue resolved?

What you should look for:

• Clear & compliant format to communicate

• Standardization

• Adequate response times

• Experienced professionals

At NAN…

• Standard appraisal dispute form

How do I go about getting an appraisal issue resolved?

What you should look for:

• Clear & compliant format to communicate

• Standardization

• Adequate response times

• Experienced professionals

At NAN…

• Standard appraisal dispute form

How do I go about getting an appraisal issue resolved?

What you should look for:

• Clear & compliant format to communicate

• Standardization

• Adequate response times

• Experienced professionals

At NAN…

• Standard appraisal dispute form

• All disputes handled by our in-house staff appraiser team

Appraisal Dispute Workflow

Appraisal Dispute

Appraisal Dispute Workflow

Appraisal Dispute

Review

Appraisal Dispute Workflow

Appraisal Dispute Review

Compare

Appraisal Dispute Workflow

Appraisal Dispute Review

Compare Communicate

Appraisal Dispute Workflow

Appraisal Dispute Review

Compare Communicate

Deliver Result

How do you manage communication? What you should look for: •Configurable processes to meet lender needs

• Experience with different client types

• Sophisticated software

• Hours of operation

• How do I get a hold of someone?

At NAN… • M-F 8:30am-9pm est

• Understands different client types

• Configurable processes and software to enhance workflow

• Client Relations Manager (CRM)

• Software- communication tracking

How are you currently handling appraisals?

Quick Poll

How do you service the West Coast? What you should look for:

• Hours of operation

• Appraisers on West Coast

At NAN…

• West Coast Division • Processors

• Account Managers

• CRM’s

• Reviewers

• Staff Appraisers

• Thousands of top-notch appraisers on West Coast

What measures are in place to ensure 100% compliance ?

What you should look for:

• Complete transparency

• Clear & consistent policies

• Training

• Testing

At NAN…

• Clear & consistent policies

• Compliance Portal

• Testing

• Director of Quality Assurance & Compliance

What measures are in place to ensure 100% compliance ?

What you should look for:

• Complete transparency

• Clear & consistent policies

• Training

• Testing

At NAN…

• Clear & consistent policies

• Compliance Portal

• Testing

• Director of Quality Assurance & Compliance

• Compliance Task Force

Compliance Task Force

What measures are in place to ensure 100% compliance ?

What you should look for:

• Complete transparency

• Clear & consistent policies

• Training

• Testing

At NAN…

• Clear & consistent policies

• Compliance Portal

• Testing

• Director of Quality Assurance & Compliance

• Compliance Task Force

• Training

Compliance Task Force

Will your service remain consistent through our partnership?

What you should look for: • Get REFERENCES and CALL THEM!

• Ask Appraisers about the AMC

• Value added services

• Corporate culture

• Views on service

• Are you a priority?

At NAN… • Client Relations Manager (CRM)

• Regular Performance Reporting

• Auto QC enhanced review

• Diversified panel by loan product

• Customer Service Week

• Borrower/agent surveys

• Ask a NANNER!

www.Nationwide-Appraisal.com

Do your appraisers know the areas they work in? What you should look for:

• Geo - comp = compliance

• Policy for appraiser selection (geo comp.)

• How do they manage their panel?

• What’s the selection criteria when assigning appraisals

At NAN…

• Vendor Relations Department

• License/ E & O verification

• Contact info

• Geo coverage

• Recruit niche areas

• Software is geo-coded for best selection

How do we benefit from your technology platform? What you should look for:

• Security & privacy policy

•Is technology configurable or do I have to fit in a “box.”

At NAN…

• Provide status updates directly to your inbox

• Custom reporting- pipeline management

• Email reports to borrowers

• Direct delivery to UCDP – create & deliver SSR’s

• Direct integration capabilities

How financially stable are you? What you should look for: •Don’t get stuck with the bill

• Ask the AMC for recent financials

• Ask for SLA/payment policy with their vendors

• Ask their appraisers!

At NAN…

• Financially strong

• Fantastic commercial banking relationships

• Peace of mind

Q & A

Session

Joni Pilgrim

jpilgrim@nationwide-appraisal.com

813-749-8849 - direct

Kevin Johnson

kjohnson@nationwide-appraisal.com

813-749-8856 - direct

Jennifer Graham JGraham@Nationwide-Appraisal.com 888-760-8899 x211