Appraiser TrackTM is a service offered by Mortgage U, a nationally recognized mortgage training and consulting company. Investors and the Home Valuation Code of Conduct require companies to manage and strictly monitor procedures related to the appraisers they use. This process is time consuming and can become costly for companies who frankly would rather focus on their clients and customer service. Companies now have measurable financial risk in the event their process is not compliant with investor requirements. Appraiser TrackTM was created to relieve the burden of monitoring the approval and removal process, licensing and insurance of your company's list of appraisers.
All this is managed through a password-protected web site that we at Mortgage U keeps updated while providing the company access to their own database where they can look up an appraiser, view their list, print reports and request changes.
You provide us with your list of approved and excluded appraisers and Mortgage U will maintain, monitor and update the following:
- Current license expiration
- Current E&O expiration (if required by the company)
- Date of OFAC list check
- Type of property and geographic region for which the appraiser is approved
- Update your list with additional appraisers as they are approved
This portal allows your staff 24/7 access to live information about your approved, suspended and terminated/withdrawn appraisers, complete with a comment section for underwriters to share internal information.
In addition, we'll handle the HVCC compliant notifications to your appraisers renewals and status.
The service fee is a nominal $35 annually, per appraiser for lists of under 300 appraisers. Please contact us for quotes when the list is more than 300 appraisers.
Take the short tour through our sample pages, then call us 1-800-278-0200 to get your own Appraiser Track working for you.
