ServiceLink

[David S]

Any Silicon Valley appraiser here? In the past, I always at least got one assignment from ServiceLink per week. But didn't get any, even quote, from this year. They said because the volume is dry up. Can someone share the experience here? Can't be no loan for whole bay area, right? Thanks!

 

[J Grant]

Any Silicon Valley appraiser here? In the past, I always at least got one assignment from ServiceLink per week. But didn't get any, even quote, from this year. They said because the volume is dry up. Can someone share the experience here? Can't be no loan for whole bay area, right? Thanks!

Did you come in below a sale price or not meet some high refinance level on an assignment? Those are the usual reasons an AMC stops sending work. And they never tell the truth - they always say it is "slow".

 

[David S]

Did you come in below a sale price or not meet some high refinance level on an assignment? Those are the usual reasons an AMC stops sending work. And they never tell the truth - they always say it is "slow".

Thanks sharing! For the purchase assignments, most came in the contract price, except a few. For refi, I always do the best but no way to tell which high they want. The only thing is: there is a couple of refi got delayed since the borrowers are on vacation or out of town. Thus drag my turn time a little bit longer. But that not is my fault.

So, at least you got some order from them this year?

 

[J Grant]

Thanks sharing! For the purchase assignments, most came in the contract price, except a few. For refi, I always do the best but no way to tell which high they want. The only thing is: there is a couple of refi got delayed since the borrowers are on vacation or out of town. Thus drag my turn time a little bit longer. But they is not my fault.

So, at least you got some order from them this year?

I do not accept work from Service Link or any AMC now, the exception being a captive order AMC for a lender that mostly uses me for complex orders -they are ironically now a good client after dumping me years ago when I came in "low " ( at market value ) but below a SC price. It is possible that on ocassion a company can change.

I had past experiences when I used to work for AMCs of seeing the orders uly disappear after coming in "low more than a few times - and one sleazy direct lender dropped me for the same reason as well -There is NO firewall against value pressure except for the fact that a few decent clients want real MV opinions. I know other appraisers who had orders stop for the same reason. Just apply to other clients - maybe SL will come back one day, or not . Best of luck.

 

[Alsie35]

Ok, I'm in Texas, so this is not directly relevant to your situation, but down here in South Texas Servicelink has been pretty quiet for a few years, until the last few months, when they sent us a good number of assignments, I would say half of them asset valuation 2055s, with a few pre-foreclosure 1004s and a couple of refinances thrown in.

So perhaps they don't have the same clients, that are ordering the pre-foreclosure appraisals down here, in your area.

 

[Joe Flacco]

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[swandel1]

Any Silicon Valley appraiser here? In the past, I always at least got one assignment from ServiceLink per week. But didn't get any, even quote, from this year. They said because the volume is dry up. Can someone share the experience here? Can't be no loan for whole bay area, right? Thanks!

I believe they have some staff appraisers they regularly use. I rarely see any quote requests or assignment orders. The assignments I was seeing assigned to me via their automated system were at fees 1/4 of what I would charge. Their system is also a PIA to set up. I cover 10 large rural counties that can be a 20-30 min drive or a 5 hour drive. To go in & fee code every zip code I cover would literally take a full 40 hr week to do. So you might want to check your profile set-up to see if your fees are populated. But in general, they have been very quiet. I am in AZ.

 

[Overimprovement]

With nearly every single client I stopped getting orders from from 2021-23, the volume stopped instantly. Some before rates went south. There were a few that went from 3-4 month for years to zero. No bids, no nothing. While not coming in at price is always possible, for a few of those, I know that wasn't the case because the prior two months everything was reasonable as far as purchase price, and my value was at or above that each time.

I think the most likely reason is they brought someone on staff to cover that area. And sadly, for most of these clients, I never did hear from them again, other than once every two years or so with the log cabin made of wood from extinct trees and chinking made from moon rocks, all on 500 acres of oil and natural gas rich land and a sparking water spring-fed crystal clear lake, with several species of extinct fish still in it, and ivory-billed woodpeckers and dodo birds still nesting on site.

 

[Zoe]

I don't know., Danny Wiley with Freddie used to work for them. You might PM @DWiley. He is good guy. He will help you if he can.

If that is not AMC he worked for, he can probably still help you.

He posts on here sometimes. He will give you some guidance.

 

[AppraisingLA123]

I get complex condo work from mostly in the areas that burned down in Pacific Palisades, its possible that they have staff appraisers that they use for simple assignments.