FAQ’s
Q1. What is your geographic coverage area?
PBAMC provides residential valuations services nationwide.
Q2. How often do you pay appraisers?
Our appraisers are paid monthly for completed orders. Invoices are automatically generated and forwarded to our accounting group for processing. Per state and federal guidelines, PBAMC provides a transparent breakdown of both client and vendor fees.
Q3. Describe your appraiser assignment/rotation process?
PBAMC uses automated assignment technology to ensure that appraisers are selected based on: strong past performance, current workload, geographical competency radius.
Q4. Describe the tracking and follow up procedures PBAMC uses to ensure the timely completion of orders?
The PBAMC Customer Support Team uses appraisal management software to closely monitor the process of the order, and to proactively manage each critical milestone. Customers receive automated status notifications, so there is complete visibility of the process at all times.
Q5. Does your system have detective controls to identify properties where there has been a prior appraisal at a materially different value?
Yes – PBAMC order management platform allows us to track appraisals by both physical address and appraised value. We have excellent visibility to value variances and job times.
Q6. Can you accommodate client specific overlays?
Yes – PBAMC order management platform allows us to customize valuation protocol for clients at the transactional level.
Q7. What is the cost to appraisers/vendors for signing up with PBAMC and/or for doing assignments for PBAMC?
There are no vendor enrollment costs, nor are there vendor costs associated with assigning individual orders.
Q8. Is your client base primarily mortgage lenders or are you more diverse?
A prospective client for PBAMC is any organization that has a need for residential valuation services. We are pleased to say that we have strong relationships across a full spectrum of mortgage origination channels – Credit Unions, local and regional banks and correspondent lenders. Importantly, we are also able to support back of the house operational needs – post-closing QC groups, and state mandated QC audit groups.
Q9. What is your process for enrolling appraiser? How do you ensure that your panel appraisers are, in fact, good appraisers?
PBAMC leverages automated technology to scrub our entire vendor panel against at least 12 different investor and agency ineligible rosters monthly. Additionally, each vendor submitting an enrollment request is subject to a rigorous vetting process, including an audit of past work samples, reference validation, and checks against both HUD and ACS websites.
