Appraisal News and Business Tips

StreetLinks AMC's new AppraiserPlus Program-paid on inspection, no micromanagement?

My comment: Hmmm… we will see what happens. Maybe too many appraisers took Streetlinks off their approved AMC list?

Full Streetlinks press release:

May 23, 2013 /PRNewswire/ — StreetLinks Lender Solutions(R) announced today the August 2013 launch of its AppraiserPlus(SM) program. AppraiserPlus(SM) significantly enhances the professional partnership between StreetLinks and appraisers by removing the traditional hurdles of micromanagement and post-completion appraiser payment cycles. StreetLinks’ lender partners will continue to benefit from exemplary quality and service levels, with the assurance that they will never be responsible for an AMC’s failure to pay the appraiser.

“I have said many times that we want to make a positive impact on our industry and to continuously make it better than it was when we entered. AppraiserPlus(SM) is consistent with that goal by providing measurable benefits to appraisers and lenders through real partnerships — not traditional vendor micromanagement,” said StreetLinks President, Tom Hurst. “This program allows appraisers to focus on running their businesses and brings back the days of “COD” style payment. This announcement is a year in the making and as an original founder of StreetLinks, this is the most exciting announcement of my career.”

For years, traditional AMCs have put all appraisers into a single bucket and micromanaged every aspect of the process, resulting in real or perceived nuisance calls, texts and emails that interfere with the appraiser’s productivity. While StreetLinks has never set appraisers’ fees and has remained loyal to exceptional appraisers, the company also approached each order with a standardized follow-up process. AppraiserPlus(SM) changes that trend by restoring the days when appraisers were trusted to run their businesses and provide great service and quality reports, in addition to receiving the majority of their payments at the inspection versus weeks or months later.

AppraiserPlus(SM) will limit or remove calls, text messages and emails to participating appraisers during the appraisal fulfillment process, thus allowing appraisers to spend their time inspecting properties, compiling data and writing appraisal reports. Appraisers will have the opportunity to remove nearly all follow-up questions, revisions and stipulations by completing a StreetLinks QX review prior to report delivery. Additionally, AppraiserPlus(SM) will generate ACH payments to appraisers the same day the property is inspected.

Appraisers accepted into the program agree to consistent and fair service metrics and quality control requirements. Hurst noted that this will also ensure lenders that the best, most qualified appraiser will be handling each report.

“We have spent years developing great partnerships with our clients and continue to see unprecedented growth and capture market share. This program will strengthen our partnerships with appraisers while driving additional value for our clients,” Hurst added. “With multiple AMCs recently closing their doors, some lenders have been put in a tough spot — including being left to pay millions in situations where the AMC collected the funds, but failed to pay the appraiser. AppraiserPlus(SM) mitigates such risk, making it a win for both appraisers and lenders.”

About StreetLinks

StreetLinks Lender Solutions provides innovative and comprehensive suite of valuation services and lending technology solutions to banks, lenders and other mortgage industry firms. StreetLinks’ commitment to quality and service, embodied by our partnership approach to clients and appraisers, continues to set us apart as the nation’s premier lending solutions partner. Our products and services are used by thousands of mortgage bankers and appraisers nationwide to simplify and improve everyday business operations. For more information, visit www.streetlinks.com/landing/AppraiserPlus.

Contact Information:

Tom Hurst

tom.hurst@streetlinks.com

317-215-8182

Link to streetlinks web site:
https://www.streetlinks.com/landing/AppraiserPlus

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21 Comments
  1. This is the best and easiest tool for the every appraiser and get the fees and the reports fastly.

  2. The Features of the AMC is really amazing for the both appraisers and lendder to provide the better services.

  3. The AppraisalPlus(SM) is the best program to use for the appraisers to provide a valuation and appraisal services.

  4. I did work for SL because one of my very favorite lenders went to them and I was hoping to continue getting their work. After 30 reports, and not even one from my old lender/client, I got tired of the same things as everyone else–the LONG engagement book, the constant texts, phone calls, emails!! And the number of addendum pages they wanted- Holy Cow!!! Sometimes I had 6 or 7 location maps just fulfill their stips. And like the person above, heaven help you if not everything isn’t bracketed! One time I made a long explanation about the fact that I could not bracket the in-ground pool with a house that had 2 in-ground pools since that wasn’t typical for the market. If a property is a slam dunk, then I might take it; but for the most part, I cannot take the micro-management about the things that totally do not affect the value. OR for the constant questions about why didn’t I use this so and so property that “they” discovered in their tax record search!

  5. I removed SL from my list last year. too many calls, too many stips and the very stupid 10-12 page assignment requirements (is this appraisal 101?) If I had volume, more thn 1 every couple of weeks and pay at or above C&R it could have worked.
    I do think many appraisers fired SL in the past 12-24 months and they had to do something!
    Of couse there is NO mention of fees, fee splits etc. Do we collect $ 500. from the applicant and now I have to cut a check back to SL for their $ 250. for their “value added service”?

  6. I have done several reports for Streetlinks in the past year. Yes, their stips and post report requirements can get tiresome, but they do pay (generally within 30 days) and as for the fee and turn-time, I have found that 90% of the time they will accept my offer for both, based on the property of course and how busy I am at the moment. If they don’t like either I just turn it down and know that a day or two later they will be back with another request. I work for 4-5 AMC’s at the moment and Streetlinks is actually one of the easier ones to deal with.

    • Funny how you are anonymous….perhaps this is a Streetlinks employee responding as not too many appraisers have good things to say about SL. If you think 17 pages of requirements is easy I hate to see what your other AMCs are like. God knows you better bracket that $1000 patio or they will ask for another comp.

      • Susan,

        If Anonymous is an appraiser it is an example of the way in which many appraisers must rationalize the need for income. No doubt they could find a reason to work for the devil such as, “It isn’t all bad.”

        I defend Anonymous’ right to his opinion, but he is just flat wrong and he is harming the profession and the efforts of the rest of us to improve the circumstances. Certainly he cannot see past the end of his nose.

        The really unfortunate thing for the profession is that there are enough appraisers who do this that the fly-by-night AMCs persist and proliferate.

        As for getting paid. Anything longer than immediate is slow. For Pete’s sake everything they send you is top priority so why not be paid top priority? Match your turn time to their pay time. Tit for tat. You know that the borrower paid that fee up front and somebody, AMC or bank, is floating the money. C’mon guys, it’s your money and it should be in your account.

  7. Hallelujah! Nobody is buying this crap. I’ve looked forward to this day of awakening, with some impatience I might add!

    This will all be exposed as yet another effort to diminish the appraiser to Streetlinks benefit.

    Let ’em hire Zwillow, guys. It just isn’t worth the fear that we are becoming obsolete.

    Individuals saying no is the only way because we are on our own in shark infested waters.

    You go guys, unto going broke. Don’t let ’em scare you or fool you any more. AMCs are not your friends and they need to be gone and out of the way, period. End of story, and I could care less that some of them are operated by designated appraisers. In fact, that is an embarrassment to the profession.

  8. thanks for all the comments on this AMC – I occasionally sign up for these AMC’s , will not one this one- the ones that put the excessive stips tie up your time so much, that even if they pay ok, your cost per hour is low.

  9. All of the above. Streetlinks got into the Valucomp game; pick out the 3 worst comps you can find (lowest sales prices, even if 9 months old) and stip that appraiser comment on them. I added $50 to my standard fee just for that, and didn’t get any more jobs. Good riddance.

  10. We’re still on their list, and occasionally do reports for them. There was a time (pretty much when they were new) that you were allowed to do your job. Now, it’s basically an “attorney” frame of mind: Stupid stips to justify our existence!

    However, I must be a masochist. I thoroughly enjoy once a month pasting their stips verbatim in the report and calling them out on stupidity. When asked to remove the statements, I simply reply “Shouldn’t your client know the quality of the AMC they deal with”? I have no idea why they keep me on their panel.

    I can say I’ve never had a problem with fees, but I suspect that’s because they only call me when they can’t find anyone to tackle the complex reports we do. However, I can kind of smell the “But we paid you already and you have to do this” argument coming. They are certainly not every appraisers cup of tea, but I won’t accept ACH’s anyway, as most AMC’s jazz that up and I don’t want them in any of my accounts. Think I’kk keep them around for the once a month complex property that pays considerable fees (and the occasional jab that keeps me sharp on industry changes).

  11. I fired these folks months ago! Got tired of the excessive stupid stipulations. I doubt that they will ever change. However, I like the idea of being paid at the time of inspection. Maybe more outfits will follow their lead…..?

  12. All the above agreed. When I have accepted an order for them I then remember why I shouldn’t. I feel like they are a babysitting service. They call the office, call the cell phone, then post an email. 3 hits for 1 question :”Have you made contact with the homeowner yet?”Ummmm no I just got the order via email 2 hours ago and am out inspecting other houses.Also can these people or any other AMC read their web site before they call an appraiser?We post notes,gave updates where we should, we send in reports and they call asking us for them.Have gotten kinda snippy lately and turned the phone call around to “DO you read your notes before you call?” dead silence and then oh I see.AMC’s icky.

  13. This was the last AMC that I took work from, and I fired them several months ago for ridiculous stips. When I got a call from a “reviewer” that I needed to change the neighborhood value range because sales couldn’t possibly be 75-300 dollars, and had to explain that the three zeroes in parenthesis (000) above the numbers mentioned meant that they were represented in thousands, I’d had enough. No more AMC work for me! Three months with little stress and loving the prompt payments of direct ordering lenders. Bottom line is that there is no such thing as a “good” AMC, and the fact that SL is taking this tack is proof that appraisers with enough backbone to just say no, is having affect on AMCs.

  14. STREETLINKS does have some funny “revision” requests. Like, “the subject has 1 acre. The appraiser needs to state whether the subject is a working farm.” I am not sure how many 1 acre farms there are.

    Initially, I thought an appropriate response might be: “The subject does have some ANTS on the property. The number of ANTS on the property is unknown to the appraiser. Did you know….that ANTS are some of the hardest working creatures on this planet. On the day of inspection, it is possible that the subject property contained literally thousands of ANTS on the property. This could qualify the subject as a working farm.

    The subject also has various species of insects on the property. The amount of insects on the subject property is also unknown to the appraiser. The subject property also has some trees on the property. Birds like trees and so do squirrels. The number of birds and squirrels on the subject property is also unknown to the appraiser. Since birds fly-in and fly-out, the number of birds on the subject property may vary from day-to-day. Since squirrels jump-in and jump-out, the number of squirrels on the subject property may also vary from day-to-day.

    The subject also backs up to a wooded area. The occasional raccoon, opossum, snake, gofer turtle, deer, hogs, etc., may also appear on the subject property from time to time.

    The photographs displayed did not show the presence of any cows, horses, pigs, chickens, goats, sheep, alpacas, kangaroos, elephants, etc., that would indicate that the subject is a working farm. Since photographs of people are not allowed in the report, the appraiser told all the farm workers to take a break.”

    • I like the ant farm. Take a picture would you?

  15. May I say “horsefeathers?” If I thought it were true and not some sort of a red herring or Trojan horse” it would be wonderful, but the Leopard cannot change its spots. Streetlinks built its business on the backs of appraisers.

    Back in the day when I believed single family secondary mortgage work rounded out my practice, the Streetlinks MO was cheap/fast, hassle, nitpick and semi-slow pay. I doubt that there has been an epiphany so watch out any of you that may consider working for or with them.

    Streetlinks’ business plan is that of a predator and this release is nothing more than a wolf-in-sheep’s-clothing or better yet, “lipstick on a pig” and the other shoe will drop. Don’t let it drop on you.

    Streetlinks pacifies Fannie and their clients like Streetlinks as is. Nothing will change except that they will pay you less if indeed they pay you sooner. Do not swallow this “hook, line and sinker.”

  16. So will they be removing their 17 page list of requirements for appraisers to follow for each appraisal? Their instructions are insane and they come back with the most ridiculous revision requests. “Please provide a comp within 1/2 mile, the same size as the subject, same condition, same bedroom count and lot size that has sold in the past 90 days for at least the appraised value”….yea because I was holding that comp in my workfile just in case you came back to ask for the perfect comp!! I am guessing many appraisers have moved on to AMCs that actually let them be the appraiser rather than Streetlinks since its their name on the report not the AMC!!

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