| 1. |
Can Mortgage Brokers or Realtors order an FHA appraisal without being in violation of the rules? |
| Ans: |
Yes! Mortgage Brokers, Realtors and any member of the Lender Staff can order FHA appraisal. The Lender would be in compliance as long as the appraiser is not selected, retained or compensated by the Mortgage Broker, Realtor or the Lender staff. Our A.C.O.S Appraisal Compliant Ordering System is an automated selection and direct payment ensures compliance with the rule. |
| 2. |
Can an FHA Approved Lender find and SELCECT the Appraiser or Appraisal Company? |
| Ans: |
Yes! As long as the Lender Staff is not commission based. FHAAppraiserList.com search function makes the process easier and faster for Lenders to locate a local qualified FHA Appraisers nationwide. |
| 3. |
FHA rules require that appraisers be paid fees that are customary and reasonable for their area. What are FHA Appraiser list fees? |
| Ans: |
Our Appraisers receive their FULL STATED FEE for the appraisal services. This helps ensures the hiring of qualified skilled appraisers to handling the orders efficiently, timely and most important to deliver a quality appraisal report to the client. |
| 4. |
Is FHA Appraiser List an AMC Company? |
| Ans: |
No! Our ACOS Appraisal Compliant Ordering System is a Vendor Management Platform, not an AMC, and therefore does not add a surcharge to any appraiser's own stated fee. The appraiser only pays between $29-$49 yearly for marketing and technology. Costs to the borrower are lower than in an AMC-managed transaction, and compliance with the FHA fee reporting requirements is assured |
| 5. |
How does ACOS Appraisal Compliant Ordering System work? |
| Ans: |
Appraisal orders are to be placed into ACOS via the home page. ACOS goes to work immediately to process your Appraisal order with a local approved FHA Appraiser anywhere in the nation. The system chooses local appraisers with experience within their market area. From the time ACOS receive the order to delivery of the report, tracking and updates will be provided 24/7. Our system is compliant with the new FHA appraisal ordering requirements, better known as the HVCC. |
| 6. |
How can we ensure that appraisers have not been influenced in the selection and management process? |
| Ans: |
Unlike a costly interior firewall or outsourcing to an AMC, our ACOS Appraisal Compliant Ordering System features a complete double blind process. Mortgage Brokers, Realtors and any member of the Lender Staff can be shielded from any or all personal communication with the appraiser while still initiating the transaction and being kept informed of its status. |
| 7. |
We are an FHA Lending Company and like to select our own appraisers to do our orders. How can we find the appraisers qualification and their Geographic coverage area? |
| Ans: |
FHA Appraiser List Search Bar pulls up only FHA Approved Appraisers within their agreed upon geographic competency coverage area. There you will find a detailed profile of the appraiser qualifications, contact information and a way to order appraisal directly from the appraisers. |
| 8. |
We are listed on the FHA/HUD Appraiser Roster why should we be listed on FHAAppraiserList.com? |
| Ans: |
It is more important than ever to have your qualifications and your geographic competency coverage area available. Per FHA the new requirements for FHA approved Lenders: (A lender must not assume, simply because an appraiser is state certified, that the appraiser is qualified and knowledgeable in a specific market area. It is incumbent upon the lender to determine whether appraisers qualification, evidenced by educational training and actual field experience, are sufficient to enable the appraiser to competently perform appraisals before assigning an appraisal to them.) FHAAppraiserList.com provides a Low Cost Way for Professional FHA Appraisers provide a detailed profile page within their geographic coverage area. Whether you receive orders via our ACOS system or directly from our clients, it is the utmost important for you to receive orders that you provide as much information on your qualifications and geographic competency coverage area as possible. |
| 9. |
Is there fee to order appraisal through the ACOS? |
| Ans: |
No! |
| 10. |
We cannot find our Appraisal Company listing on FHAAppraiserList.com. What do we do? |
| Ans: |
Provided you have already become a paid FHA Appraiser List member via the GET LISTED tab. Login into the Member Login, check that all of your coverage areas have been selected. Please note when using the Search Bar, search by: CITY comma STATE or ZIP CODE. ex. Santa Rosa, CA or 95404. Also the Advance Search allows searches Via the USA MAP. |
| 11. |
The Vendors Application will not accept my E-Mail! Why? |
| Ans: |
Most likely you have submitted a previous application. You can use the Members Login to complete your application. |
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