I just wanted to let everyone know the new 2014 AMC Directory is now available! You can find it inside of the store.
On this last update, I went through the entire list of appraisal management companies and removed any of the companies that have had problems paying appraisers, those that have gone out of business as well as adding a bunch of new companies to the list. They are all clickable links on the electronic version and a printed version is also available for those that want to write their usernames and passwords directly in to the book.
With the incredible slowdown that has been experienced recently, it is a great time to update all of your information with the AMCs and sign up to a bunch of new companies. The list has over 275 companies with the top 47 on the list are the companies that sent me the most work in the past year. There is still a lot of work out there.
There are a lot of reasons why you might not be getting a ton of work from the appraisal management companies. Topping the list of reasons is due to document updating when you get a new license or e&o insurance. You can also reach out to all the appraisal management companies by phone to speak with the vendor managers. AMCs like to work with appraisers that reach out to them and you might even get on their preferred list of appraisers.
Of course fees vary from one company to the next. I have not accepted less than customary and reasonable fees for many years now and I am not about to get started. A lot of these AMCs still work with the fees with appraisers as long as you explain the situation.
Well, I just wanted to let everyone know the new directory is available and you can order your copy today. Thanks again for being a valued subscriber to Appraiser Income! http://appraiserincome.com/shop/catalogue.php
Wishing you success in 2014,
Appraiser Marketing Guide and List of 3400+
Direct Lenders, Credit Unions and Bail Bond Companies
Have you noticed a significant decline of lender work over the past few months? Do you want to learn how to get more appraisal orders and finally get off the Appraisal Management Company roller coaster ride for good?
Like many appraisers I have seen a very significant decline in AMC orders over the past few months. I have been kicking myself in the butt for not getting started on my marketing to Attorneys, bail bond companies and credit unions prior to the interest rates going up.
Luckily I have a steady stream of attorney work that keeps me busy due to having a good contact management system in place and a steady client base of bail bond companies that refer their customers to me.
In this book I have detailed the steps that I take to create an inexpensive mailer to get more work from credit unions, attorneys and bail bond companies as well as the systems I use to continually get more referral work from all my past clients.
This is an incredible resource to those appraisers that are really looking to learn how do market your appraisal company and build up your client base so you don’t have to deal with seasonal and economic slow downs. This kind of work never goes away!
Possibly one of the most valuable aspects of this book is the spreadsheets that include:
You are going to especially love the Bail Bond marketing information. These orders are amazing and I have been focusing a lot of my efforts to getting more of their referrals. Why?
When I am referred a customer, I quote 3 fees. I base my first fee off of complexity of the appraisal. Lets say it is a standard tract home in San Diego. I quote them $400 and will inspect within 2 working days and have the appraisal report back to them within 2 days. The second fee is to inspect within 24 hours and have back within 24 hours for $800, and finally a same day inspection and deliver of the appraisal is $1200.
Which one do you think the client wants when they are trying to get a loved one out of jail? 75% of the time it is the $1200 fee for a simple tract home appraisal.
But you do have to follow up to keep these clients, and I have listed all the techniques I use to stay in contact with these clients so the work doesn’t go away.
This resource is jammed packed with information and the spreadsheets are 100% sortable by state to make it easy to create your postcard and do your mailing as noted in Chapter 5: Step-by-Step Instructions to Make a Postcard Mailer From Card Design to Mailing
The next chapter lays out the steps I use to get a massive list of Attorneys in my market area by an inexpensive virtual assistant.
Take the time today to order my New Book & Directory – No More Middlemen – Full Fee & Appraisal Managment Free : 2014 Appraiser Marketing Guide and List of 3400+ Direct Lenders, Credit Unions and Bail Bond Companies and finally get off the crappy appraisal management company roller coaster ride for good!
Certified Appraisers Valued!
$1,000 Sign On Bonus
Opportunity is knocking! Expand your earnings potential…grow your business…maintain a steady volume of work!
DataQuick is hiring Certified Appraisers for Staff Appraiser positions to complete residential work in the following counties:
AZ: Maricopa; CA: Riverside, San Francisco; DC: District of Columbia; FL: Lee, Palm Beach, IL: Cook; KY: Jefferson; LA: East Baton Rouge; MD: Montgomery; MI: Oakland; NC: Durham, Mecklenburg, Wake; NY: Kings, New York, Orange, Richmond
Staff Appraisers will benefit from the following at DataQuick:
Join Our Team!
For consideration please submit the following to dataquickappraisers@dataquick.
1. Appraiser License
3. Coverage Area
4. Two recent UAD reports with MC — 1004 and Condo
Fellow Professional Appraiser,
I am asking you to take a moment from your busy day to PARTICIPATE in an important industry effort.
That issue is referred to within Title XIV of the Dodd-Frank legislation as “Customary and Reasonable Fees”:
CUSTOMARY AND REASONABLE FEE
In General – Lenders and their agents shall compensate fee appraisers at a rate that is customary and reasonable for appraisal services performed in the market area of the property being appraised. Evidence for such fees may be established by objective third-party information, such as government agency fee schedules, academic studies, and independent private sector surveys. Fee studies shall exclude assignments ordered by known appraisal management companies.
The NCUA and six other agencies are proposing a rule that would implement minimum requirements for state oversight of appraisal management companies.
The NCUA introduced the proposal at the agency’s monthly board meeting on Thursday.
The requirements, which are part of the Dodd Frank Wall Street Reform and Consumer Protection Act, “would apply to states that elect to establish an appraiser certifying and licensing agency with the authority to register and supervise AMCs.”
The state agency must register the AMCs, use only state-certified or licensed appraisers for federally related transactions, ensure competent and independent appraisers are chosen and require appraisals to comply with Truth in Lending Act standards and the Uniform Standards of Professional Appraisal Practice.
The other federal regulators proposing the rule include the Federal Reserve, CFPB, Treasury Department, FDIC; Federal Housing Finance Agency and Office of the Comptroller of the Currency.
NCUA Chief Financial Officer Mary Ann Woodson presented the corporate stabilization fund quarterly report at the meeting on Thursday.
Total assets increased from $1.6 billion in December of 2012 to $2.7 billion. Net income increased from $1.6 billion to $3.2 billion.
“For 2013, the net position of the stabilization fund improved by nearly $3.4 billion from a $3.5 billion deficit at Dec. 31, 2012, to a $142.2 million deficit at Dec. 31, 2013,” the NCUA said.
“Effectively managing the Stabilization Fund to minimize federally insured credit union assessments is a top NCUA priority,” NCUA Board Chairman Debbie Matz said in a statement following the meeting.
“Settlements with JPMorgan Chase and Bank of America, coupled with improvements in anticipated future cash flows from legacy assets of the NCUA Guaranteed Notes program, led to a sizable improvement in the Stabilization Fund’s net position in 2013. I’m hopeful we can forgo charging assessments not only in 2014, but in future years as well,” she added.
OMAHA, Neb., March 11, 2014 /PRNewswire/ Last year, American Title Inc. (ATI) acquired Collateral Intelligence, LLC (CI), a national Appraisal Management Company, and has today changed the name from Collateral Intelligence to ATI Valuations.
Omaha-based ATI is the nation’s leading real estate information provider to home equity lenders and the Boston-based ATI Valuations (formerly Collateral Intelligence) offers appraisals and alternative valuations to its clients in the mortgage industry.
“Our clients have been asking for us to help them with valuation services for years due to all of the changes, but we wanted to make sure that we had a best-in-class solution before bringing it to the market. When we became aware of Collateral Intelligence, we knew that it was a perfect fit,” said Mike Mackintosh, Executive Vice President of ATI. “Mark Sennott (CEO) and his team have a tremendous amount of experience, not only in the valuation market, but in working collaboratively with clients to create innovative valuation solutions that improve the process for all parties involved.”
Mackintosh said that ATI offers title products to most of the top ten Home Equity Lenders in the US and that the company has been growing rapidly as a result. ATI Valuations, meanwhile, has rolled out several appraisal hybrid products and appraisal desktops that are also what many Home Equity lenders are now looking for.
Since last year, the two companies have worked diligently to integrate the ATI infrastructure, which includes ensuring that subject matter experts work in their area of expertise. “We think that this will create the best solution for our clients since they will get access to title and valuation products through one company, but still have the best possible people working on the unique products,” said Mackintosh. The companies said the combined financial resources will be used to position ATI to better compete in the marketplace.
“We are excited to be associated with an industry leader like ATI,” said Mark Sennott, CEO of ATI Valuations. “We think our appraisal hybrids are a great match for their clients and our combined strengths will allow us to do much more for all our clients.”
SOURCE American Title Inc.
Dear State Appraisal Regulators,
Please assist us by posting this information on your website or in your newsletters.
Beginning today, February 12, 2014, the Appraiser Qualifications Board (AQB) will begin distributing an online survey to licensed and certified real estate appraisal professionals as part of a practice analysis. The deadline to complete the survey is March 26, 2014.
The purpose of the practice analysis is to identify tasks and competencies reflective of the real estate appraiser job role in order to update the examination content outlines for the AQB National Uniform Licensure and Certification examinations.
Please distribute this link to the survey:
Fannie Mae launched a website Jan. 6 focused on its new Appraiser Quality Monitoring process, which evaluates appraisals for data accuracy and consistency. The site gives lenders access to a list of appraisers whose reports will be subject to 100 percent review or no longer accepted by Fannie.
Sellers and servicers approved by the government-sponsored enterprise can access the review list of appraisers through the website’s Technology Manager. The list is protected content and will be updated monthly. …continue reading the rest of this post: Quality Monitoring Website by Fannie Mae