UAD - The end or the beginning?

The UAD isn't such a bad thing!  Many are uneasy because they are being asked to change how they do things. The reality of it is that they will still be doing the same thing they were doing before, however, they will be using universal terms and uploading reports in a slightly different manner.  This is will just be a learning curve where Appraisers will have to learn how to go about a normal task in a slightly different way.  I think now that the UAD is a requirement individuals will begin to realize that it isn't the end of the industry as we know it.  It is a new beginning to a much more successful and fair industry! 

Try to look at it from this point of view… if you were to be in the market for a used car, would you be interested in the fact that it is in "fair condition" or the fact that it has "no mechanical problems?"  If you were looking into purchasing a new computer would you be interested in someones opinion of what "fast" was or the numbers that prove it?  It is all about being a little more specific.  Not that the previous ways of describing a property were wrong, but by having a set list of descriptive variables to be used, it will help underwriters and everyone who needs to know the actual value of a property in making a valid, fair, and precise decision when closing a loan.

Think of the UAD as a new beginning!  And then the UCDP will be a boost to this new beginning.  Don't be afraid of the changes that took place this week - learn them, embrace them, and help Fannie & Freddie take this industry to a new level!

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Class Appraisals Group is now completely UAD compliant.

The Key to a Valuable Appraiser/AMC Relationship

Appraisal Management Companies are nothing without their fee panel. Appraisers are crucial to AMCs in regards to producing a quality file in a timely manner. The KEY to making this relationship as valuable and successful as possible is to have outstanding communication and punctuality.

AMC's might take care of following up with an Appraiser if they, or their Client, need to know information about an order, however, if an Appraiser beats them to it and calls them with report updates as they happen, the Appraiser is then making contact at their own convenience instead of getting calls from their AMC Customer Service Representative at an inconvenient time. AMC CSRs appreciate when Appraisers contact them on their own because it benefits all three parties involved in an order – the Customer, the AMC, and the Appraiser.

Punctuality means “having the characteristic of always keeping to arranged times, as for appointments, meetings, etc,” (“Punctuality”).

Being punctual is important for both AMCs and Appraisers. The number one rule in all service industries is that the customer is always right. It is the duty of both parties to please the customer. Repetitively doing this guarantees more work down the road and a fruitful, continued relationship. If an Appraiser is punctual with their updates and reports, it allows the AMC to be punctual, as well as meet, and/or surpass, their Client's expectations.

It all comes down to a happy Client. Happy Client's are what both AMCs and Appraisers need in order to be successful in this industry. Happy Client's want their orders completed correctly and by the date and time promised. This is why it is so important for AMCs and Appraisers to have good, open communications with one another and for everything to happen in a timely, punctual manner.

"Punctuality." Collins English Dictionary - Complete & Unabridged 10th Edition. HarperCollins

Publishers. 19 Aug. 2011. <Dictionary.com http://dictionary.reference.com/browse/punctuality>.

Contact Class Appraisals Group if you are interested in learning more about fast turn times, exceptional Customer Service and high quality Quality Control.