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Resources/ FAQ
Q.
What are your appraisal/BPO fees?
A.
Appraisers:
will be offering "customary and reasonable" fees derived from publically accessible surveys compiled from responses by appraisers. The fee will be on the order request and every appraiser is free to accept or reject any order which they feel does not represent a "customary and reasonable" fee.
Brokers:
For our first level report we pay $50.00 for a drive-by BPO, $75.00 for an interior BPO, and $25.00 for a Property Condition Report.
Q.
What about the fee table and structure?
A.
On the web-based software where you fill in your details; we give you the liberty to put in your fees for the various appraisal / broker services. Also when we send over the order to you have an option of selecting or rejecting the same if you feel does not represent a "customary and reasonable" fee.
Q.
Will the BPOs be converted into listings in future?
A.
Not currently, however we may have clients that need REO servicing in the future.
Q.
How do I send the docs over to you?
A.
You can either upload them into your profile using the login credentials, or reply to the same e-mail we sent, attaching the docs or fax it to us @ 610-441-7533.
Q.
Which lenders / banks do you work for?
A.
BPO:
We will be targeting national mortgage lenders and servicers and capital market companies trading in mortgage backed securities.
Appraiser:
We will be targeting local banks and credit unions.
Q.
What if I am Broker/agent without E&O coverage?
A.
E&O is a preferred document, however even if you don't have it, you can still sign up with us sending the rest of the documents.
Q.
When do i get paid?
A.
We pay twice a month, and you would be paid within a 30-45 day cycle.
Q.
Is there a fee to join your vendor panel?
A.
There is no fee to join our vendor panel.
Q.
Do you pay extra for rural assignments?
A.
Yes, this will be calculated by the amount distance the vendor has to travel.
Q.
Do you pay extra for complex assignments?
A.
Yes, however we do not have a set price for complex properties; this is handled on a case by case basis.
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