How to Hire the Best Appraisers, Every Time
You have an approved appraiser panel with active state certification licensing and E&O. That’s all your appraisal department needs to have the best appraisals and reviews, right? Probably not. To receive the very best appraisals for your department, you need the right appraisers doing the right property and in the right location. Consider these three […]
Manage Lender Expectations
As the appraisal manager or chief appraiser, you might be asking yourself: Can having metrics improve the relationship between lending and credit? What’s the best way to identify time gaps during the loan approval process? Can I get the reports I need? Having an appraisal workflow platform that provides reporting is that tool. Building a […]
Collateral still matters
Lady Justice carrying a sword and set of scales reflects a symbol of U.S. courthouses. The blindfold represents objectivity and impartiality. With the unprecedented health and economic crisis bringing marching orders to help individuals and companies get much needed funding fast; there’s a lot of uncertainly around the impact on valuations of collateral. Some fear […]
Three ways to improve appraisal quality
Crucial Data Most of the information analyzed in an appraisal report is gathered by the appraiser in his/her research. But some property-specific data must be provided to the appraiser by either the bank or the borrower. Appraisers have contracted deadlines, and when crucial property data cannot be obtained they will complete the report will without […]
Commercial Evaluations, A Perspective
Commercial Evaluations are being prepared by in-house bank staff, brokers, accountants, AMCs and third party vendors. Noticeably absent are commercial appraisers, the professionals best suited to provide credible Evaluations. Why appraisers? Competence, credibility, reliability, ethics and independent, to name a few. Only about 20% of appraisers (smaller firms) currently provide Commercial Evaluations for their bank […]
The true cost of, “Yeah, we’re good”
As a job manager or chief appraiser at a bank, appraisal workflow can be handled by Outlook/Excel, outsourced to AMCs or third-party workflow platforms. Sometimes when we’re talking with prospects about our workflow platform YouConnect we hear, “Yeah, we’re good” and “If it’s not broke, don’t fix it.” Understandably, you’re busy. Very busy. There’s little […]