The biggest shift in permanent appraisal pricing

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Published by OREP, E&O Insurance Experts | December 2013

Verify An AMC's Financial Health

Do you do BPOs for AMCs? How do you assess their creditworthiness and make sure that they will pay you for your work? We know you're an agent, not an appraiser, but read below and we'll show you how data on www.AppraisalAdvisor.com can help you avoid working for free and give you peace of mind.

Appraisal Advisor is a website where appraisers rate and review lenders and appraisal management companies (AMCs) and submit invoicing information about them. Using that data, we show a client's average payment time frame (i.e their financial health and creditworthiness).

A recent AMC that went under ended up owing agents and appraisers over $10 MILLION, and almost none of those agents or appraisers got their money. Through Appraisal Advisor, you can see an AMC's average payment time frame, based on appraisal invoices, to screen for their financial health.

Everyone knows the mortgage market has slowed down, and a good number of AMCs have seen their volume plummet. Only the well capitalized AMCs will survive this downturn.

You extend credit to clients every time you complete a BPO that isn't prepaid. Know that you're extending credit to financially healthy clients that will pay you by viewing these statistics on Appraisal Advisor.

Membership to www.AppraisalAdvisor.com starts with a free 14 day trial, and then costs either $10 per month or $90 when paid yearly (for savings of 25%!). You'll find that it will quickly pay for itself and give you peace of mind.

Thanks,

The Appraisal Advisor Team
www.AppraisalAdvisor.com

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