Becoming a Fannie Mae REO Appraiser

[Clint Chappell]

I am Clint Chappell, and have been Valuation Manager in REO Operations in our National Property Disposition Center (NPDC) for Fannie Mae for three years. We are centrally located in Dallas Texas but handle all valuation for our REO properties nationwide. My department currently orders several thousand appraisals every month. We order an Interior-inspection appraisal on every REO property plus an initial Exterior-only if the property is not initially accessible.

Our REO properties are in every US state and we currently have a network of about 1500 appraisers that complete the appraisals. Our appraisals are more comprehensive than most loan-origination appraisals and require:

- 3 Sales and 3 Listings Comparables
- All Comparables (Sales and Listings) adjusted in grid form
- Photos of all comparables (Sales and Listings)
- An 'As Is' Value and an 'As Repaired' Value with estimated repairs


There is NEVER any pressure to 'reach a value' (we will be selling these properties and really need to know what to list them at. We review each appraisal and are a stickler at having them complete).

We have plenty of quality appraisers in most areas but there are some areas that could use additional appraisers on our panel. We pull additional appraisers from a pool of interested appraisers that we gather through a website.

If you are interested in registering to become a Fannie Mae REO Appraiser:

Go to www.efanniemae.com
Click “NPDC Vendors” in the lower middle section
Click “Becoming an NPDC Vendor”

 

[Carnivore]

Clint,

Nice to see you here. This is a great place to recruit some of the best appraisers in the country!! I hope you get a good response.

andrew

 

[Jo Ann Meyer Stratton]

Welcom Clint!!! Hope to see you post more often!

 

[Don Clark]

Registered as such within the past 30 days. hope to hear from you.

Happy Thanksgiving!

 

[Clint Chappell]

I have a staff of 30 who each 'own' the appraisal work in one or more states. I have asked them to be 'pro-active' and increase the number of appraisers in their areas, as needed, in anticipation of a projected increase of foreclosures.

 

[bmallory]

clint-
sent in my appl. this morning. hope to do some work for you guys.
thanks,
brian mallory.

 

[Deuce of Spades]

Look forward to hearing back from your group.
How do you know if you were successfully registered? I recall registering several months ago. Do you have a roster like FHA that we can acess?
Do you have any minimum requirements? Educational requirements?
Appreciate any updates!

 

[Workbox]

I will be glad to be of service in Houston and surrounding counties.
If you require more info, PM me.

 

[Farm Gal]

Clint:

Last REO 'report card' I got had 99.96% appraised to actual sale prices for the YEAR!

I think if you want quality work which tells the REAL story, you stand a pretty good change when ordering direct from folks who frequent this forum!

We used to do most of the HUD REO work in this area... until someone who did fast and and cheap, but not neccesarily 'correct' work, undercut the fee structure to the point competitors could not perform due dilligence and remain competive. We dropped out of that race.

Thank you for posting... We sincerely hope to hear from you.

 

[Steven Rogate]

Hi,

Applied in October...Hope to be of service!

Happy Thanksgiving!

Steven