Best AMC

[JMcGuire1122]

Hi all,

I’m a sales manager at a national lending bank and have been tasked with adding a 3rd AMC as a partner to help us with orders.
We are doing anywhere from 1,500 to 2,000 loans per month.
I have gotten the sales pitch from some of the AMC’s and they sound pretty similar. Some do have some technology advantages that are cool, BUT - I want to find a National AMC that APPRAISERS like to work with vs what I’m being sold on the AMC side.

Can you guys tell me which AMC’s you really like to work with and why?
Do they provide you with technology/info to help you perform more efficiently? Do they pay you good? Do they pay you quick?

Please let me know!

Thank you-

 

[EddieB]

You should expect varying answers on this question. Suggestions of portals such as Mercury Network to “there are no good AMCs”

But would you be at liberty to list the AMCs you currently use?

I want to be on the record for saying thanks for asking for appraiser input.

 

[Zerubabel]

Solidifi, HomeBase, Xome Valuation and Valuation Connect have all been good to work with but I do unique residential properties and very few homes in subdivisions. I love Red Sky Risk Services on Appraisalport but I don't think they are an AMC. The ones listed are good to work with, have reasonable revision requests and pay the fees I need for complex properties.

 

[DWiley]

Having previously worked at a large national AMC, I would say that if I were in your position I would look very closely at the assigning process used by any potential AMC. Many are now placing orders based on low bids. A low bid process is NOT the proper way to assign orders. I would also say that the fee to the appraiser should be set by the appraiser.

 

[Joe Flacco]

Best way to do it is to not use AMC.

 

[JMcGuire1122]

You bet- I have a couple buddies that are appraisers but only work for small local banks and don’t use AMC’s. I know most appraisers would prefer to do that- but AMC’s are definitely needed. And I know they can be a pain in the *** too…
Currently, we work with US Appraisals and Servicelink. Really like US Appraisal. They do a good job for us and are pretty good with communication. Servicelink have a lot of good data, but their service lacks. I honestly think I with them in the appraiser side they don’t pay much and appraisers don’t want to work for less? Which is totally understandable.

 

[JMcGuire1122]

You should expect varying answers on this question. Suggestions of portals such as Mercury Network to “there are no good AMCs”

But would you be at liberty to list the AMCs you currently use?

I want to be on the record for saying thanks for asking for appraiser input.

Sorry- I made a new post vs replying.
Here is the reply:

You bet- I have a couple buddies that are appraisers but only work for small local banks and don’t use AMC’s. I know most appraisers would prefer to do that- but AMC’s are definitely needed. And I know they can be a pain in the *** too…
Currently, we work with US Appraisals and Servicelink. Really like US Appraisal. They do a good job for us and are pretty good with communication. Servicelink have a lot of good data, but their service lacks. I honestly think I with them in the appraiser side they don’t pay much and appraisers don’t want to work for less? Which is totally understandable.

 

[JMcGuire1122]

Best way to do it is to not use AMC.

I know… I get it…
But in the national lending market we have to do it’s a necessary evil.

 

[Elliott]

JM,
You are a lender located in Missouri. There are a few AMCs out West who I've worked with and with time an appraiser develops a relationship. I could list them, but they really are more West Coast oriented. There are some national AMCs who will throw appraisers under the bus and appraisers soon learn to avoid them. Trust and reasonable compensation are important to appraisers. So I guess what I'm saying is, find an AMC who has a regional presence and call some appraisers in your area. I looked over my list of clients and said to myself, "AMC's are so-so to work for, but I can identify six lenders who I've worked for over the years, and we are on the same page, and whom I trust.

 

[Joe Flacco]

I know… I get it…
But in the national lending market we have to do it’s a necessary evil.

Many national lenders do not use AMC. So at least some lenders believe AMCs are not definitely needed. Some that come to mind off the top are Guaranteed Rate, Better, Aimloan.