Appraisal Management

THROUGH KNOWLEDGEABLE, ENGAGED STAFF, CURRENT TECHNOLOGY, AND PRODUCT SOLUTIONS

Our network of professional appraisers, automated review process and quality control standards ensure our lenders receive the quality and turn-times required. CSS manages the appraisal process in compliance with regulatory guidelines and customizes our products and services to meet the lender’s specific needs.

 

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Appraisal Management Benefits

Improved Customer Service:

  • High-volume periods during the year—which can be unexpected—can result in too little staff to manage appraisals, which produces poor customer service.

  • Low-volume periods can result in too many staff members, which adds to high mortgage origination costs.

  • CSS can manage such staffing problems with ease, as we are able to spread staff across many lenders and respond quickly to high- or low-volume demands without sacrificing quality or building up unnecessary costs.

Improved Turnaround Times: 

  • Lenders who have switched from in-house appraisal management to CSS have realized significantly reduced turnaround.

  • CSS is equipped to focus on efficient follow-up with appraisal assignments. Because of our outside relationship with appraisers, follow-up often produces faster results than communication between in-house teams who work with long-time preferred appraisers.

  • Turnaround times are documented in month-end reports, and CSS works hard to address any shortcomings.

Cost Savings and Efficiency:

  • CSS’s fixed costs are spread across many lenders, so you can be sure that you’re not being charged unreasonably. 

  • Management fees can be passed on to borrowers and not paid by lenders. Conversely, the sizeable costs of in-house appraisal management are difficult for lenders to pass on to the borrower, due to RESPA and other constraints. As a result, most in-house costs negatively affect the lender’s bottom line.

  • Switching to CSS’s appraisal management services can make in-house staff redistribution possible, providing potential efficiencies in other areas of the bank.

 

Compliance:

  • Appraiser independence can be confirmed, while in-house appraisal management leaves room for audit questions.

  • Robust quality control scorecards are implemented for each appraisal.

  • Each appraiser must pass a compliance certification.

What We Manage 

CSS will be busy behind the scenes: 

  • Vet appraiser panel to ensure quality and compliance
  • Select the best appraiser for each assignment
  • Chart fees charged by each appraiser
  • Place the order and monitor progress ensuring proper turn-times
  • 3-tier Quality control review for appraisal reports, including customer-specific requirements  
  • Coordinate revisions
  • Deliver appraisal reports
  • Address lender questions
  • Pay the appraisers
  • Securely store appraisals

Along the way, we’re happy to answer any lender questions. Above all, we uphold our work and the appraiser’s work to careful quality and compliance standards. Check out our three-tiered quality control review system for appraisers and appraisals, which takes into account both industry standards and individual customer-specific requirements.

Want to Stick with Your Appraisers?

For lenders who want the benefits of using an AMC but also want to use their existing panel of approved appraisers, CSS offers the Panel Management appraisal program. 

In this program, CSS will:  

  • Perform the same management tasks and provide the same great benefits of an AMC 
  • Distribute appraisal orders exclusively to the lender’s existing preferred appraisers panel
  • Pay appraisers the same customary and reasonable fees that the lender currently pays
  • Send an invoice to the lender at the end of the month that includes both appraiser fees and a set management fee for each appraisal. Responsibility for these fees may be passed on to borrowers at the lender’s discretion.

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Schedule a call with a member of our Strategy & Growth Team to explore how CSS may improve your results.