National Appraisal Management Company – What We Do
Stewart Valuation Intelligence’s AMC Network & Experience Make the Difference
The Role of an AMC in the Mortgage Process
When a consumer is purchasing or refinancing a home, their lending institution might require an appraisal of the house in order to obtain the value of the property to be mortgaged. Many lending institutions use an Appraisal Management Company (AMC), like Stewart Valuation Intelligence, to manage the appraisal process.
To provide appraisal services, an appraisal management company maintains a pool of qualified appraisers. For every mortgage application process, every AMC goes through the same general process:
- An appraisal request comes in from the lending institution and the AMC assigns an appraiser to provide an appraisal report for the property.
- The appraiser will provide an appraisal report based on the Uniform Standards of Professional Appraisal Practice (USPAP) standards as well as on state and federal laws.
- After the appraisal report is submitted, the AMC will perform quality assurance to verify that client requirements were followed and that the data is accurate. If they encounter issues at this stage, they may ask the appraiser for clarification or corrections.
- Once the report has met the AMC’s and client’s standards, it is sent to the lending institution.
- The AMC appraisal must be used unless there is reasonable basis to believe that the initial appraisal was flawed or tainted. The basis for this belief must also be clearly and appropriately noted. New federal regulations also prohibit the lending institution from obtaining multiple values and using the one they find most favorable.
Learn Why Stewart Valuation Intelligence’s Appraisals Are Better Than The Competition
Stewart Valuation Intelligence’s AMC Services, Network & Experience Make the Difference
The Stewart Valuation Intelligence Process
Appraisal management companies add an important layer of oversight to the appraisal process. After the 2008 housing market crash, federal laws regulating lending institutions and mortgages changed and began requiring oversight between lending institutions and appraisers. These appraisal management companies help consumers obtain unbiased reports for financing and loan servicing.
At Stewart Valuation Intelligence, we use a comprehensive rating system to maintain updated scores on each appraiser in Stewart Valuation Intelligence’s national Appraiser Partner network. The score includes criteria such as proximity, quality, turn time, capacity, case load and responsiveness.
For each report submitted, a quality score is given — this creates a regularly updated aggregate quality score for each appraiser. Significant weight is placed on quality ratings when calculating the appraiser’s overall score. This directly affects the number of appraisals an individual appraiser will be offered through the Stewart Valuation Intelligence order matrix.
The structure of our partner grading and selection process creates a competitive environment that promotes superior quality and turn times. Through real-time quality scoring, appraisers are able to compete for orders, while those who score below minimum requirements remove themselves from the order invitation process.
The Value of Stewart Valuation Intelligence’s National Appraisal Network
Our national appraisal management network is made up of experienced licensed and/or certified professional appraisers. After they are approved as a Stewart Valuation Intelligence network appraiser, each of our residential appraisers is entered into our comprehensive rating system. In addition to the required experience, licenses and certifications, every appraiser’s work is constantly reviewed and scored against our appraisal management oversight criteria.
Stewart Valuation Intelligence AMC Services
When it comes to meeting your valuation needs, we tap into our appraiser pool for a variety of applications, including:
- Conventional Financing
- FHA Financing
- Loan Servicing
- Desktop Review
- Value Reconciliation
- Retro Reviews
We also offer a wide range of appraiser-driven products:
Stewart Valuation Intelligence is more than just a national appraisal management company — we are a real estate valuation solutions provider. We offer a wide range of tools and products for home valuations and have a product for every regulatory reality and risk tolerance.