Appraising for banks

[Jordan Scott]

Who do you need to contact or how do you get on a list to recieve orders from banks (ex. bank of america)?

 

[Mr Rex]

Bank of America uses various AMCs including e-appraisit, LSI, Valocity, and Homefocus and probably others.

I have gotten a stray FHA deal here and there directly from BOA, they called me, I didn't apply to get on their list.

 

[Kevin Mc]

AMCs.

Most national lenders use the likes of LSI and other AMCs that will provide you appraisal work for about the same money you can make selling happy meals at the drive thru. The nice part is they will contact you 6-7 times a day just to make sure everything is alright. Good luck with it.

 

[Vegan702]

Most banks use AMC's now. You either have to work for AMC's, local MB's/Credit Unions/Local small banks or get into some other appraisal market like divorce, estate, etc.

You seem to be asking a lot of questions about work, do you have work now, did you when you worked someone else while being trained?

 

[Jordan Scott]

No I'm just trying to gain more clients as mortgage broker/lender work has slowed. Any tips on how to get business from credit unions?

 

[Edward OConor]

Most national lenders use the likes of LSI and other AMCs that will provide you appraisal work for about the same money you can make selling happy meals at the drive thru. The nice part is they will contact you 6-7 times a day just to make sure everything is alright. Good luck with it.

Kevin:


Four words: caller id, voice mail.

 

[Vegan702]

No I'm just trying to gain more clients as mortgage broker/lender work has slowed. Any tips on how to get business from credit unions?

The only way you are going to get work from local people is go show your face and introduce yourself. Take part in local events, charities, community meetings, city planning sessions, etc. where these people also hang out. I moved to my new area, went to a couple credit unions and local banks introduced myself, handed out a little brochure with all my info on it and about a 2 weeks later my first order showed up. Since then I get about 5-10 a month from the local CU and bank. I haven't gone to the local MB's yet as I haven't needed to, but I may have to soon enough.

 

[Karl]

SAME Rules apply as in your last question:

Look over the entire field of Appraising, ask yourself , is this what I really want to do? IF answer is YES, Upgrade your license, All the way to CG, get educated, (extra CE Courses NOT just the minimum & classes that aren't CE) get some intials after your name. Work to bring professionalism back into this ---___---- ??? Establish a reputation that you can't be bought (You'll go hungry for a while) Attend civic events get involved in your community Volunteer (you'll have plenty of time) IF you swear to abide by the preamble of USPAP. But eventually it'll pay off. Most of ALL strive to bring Professionalism into this _____ Fill in blank.

 

[Mike Boyd]

Most credit unions have a central clearing house to approve appraisers. Go to a local credit union and ask to talk with the manager or the person in charge of real estate loans. Find out who and where the regional office is then contact them. I don't know if they have changed in the last few years or not but NOW might be a good idea on trying to sell them on using indeptendant fee appraisers if they have been using AMCs. Some BofA regional offices have staff appraisers. Check with their real estate loan department. Sometimes a friendly mortgage broker who wholesales loans to BofA can get you approved.

 

[Terrel L. Shields]

Any tips on how to get business from [bank or] credit unions?

Walk in their door and ask for it. That's the first thing you need to do. They ought to at least know who you are when you do. After all, I don't do business by proxy, nor expect my clients to.

I continue to be amazed at the number of appraisers who have never sit foot in a bank nor a courthouse.