StreetLinks Lender Solutions plans to launch a new program that will allow appraisers to work more efficiently by removing the traditional hurdles of micromanagement and post-completion appraiser payment cycles.
StreetLinks' AppraiserPlus program, set to launch in August, is designed to enhance the professional partnerships between appraisers and the company's lender partners.
Not only will this program enable StreetLinks' appraiser partners to be paid upon inspection, it will also ‘de-clutter’ their communications through the elimination of traditional vendor micromanagement and fostering ‘real relationships’ between lenders and appraisers, the company says in a release.
Tom Hurst, StreetLinks' president, said AppraiserPlus will allow appraisers ‘to focus on running their businesses and brings back the days of 'COD' style payment.’
According to the company, the program will change the current trend where appraisal management companies (AMCs) micromanage every aspect of the appraisal process by limiting calls, text messages and emails to appraisers during the fulfillment process. This, in turn, will free up appraisers to focus on the core tasks of inspecting properties, compiling data and writing reports.
Appraisers will have the opportunity to remove nearly all follow-up questions, revisions and stipulations by completing a StreetLinks QX review prior to report delivery, the company says.
Also, appraisers accepted into the program agree to consistent and fair service metrics and quality control requirements.
‘With multiple AMCs recently closing their doors, some lenders have been put in a tough spot – including being left to pay millions in situations where the AMC collected the funds, but failed to pay the appraiser,’ Hurst said. ‘AppraiserPlus mitigates such risk, making it a win for both appraisers and lenders.’