Appraisal Ordering Service

  • Online Appraisal Ordering Service Request captures loan and property information from “Loan Officer (Requestor)”
  • Bidding and Awarding managed electronically; Engagement Letter created automatically
  • Tracking System is maintained automatically and is viewable by all concerned parties
  • Technical Review Request (commercial & residential) managed electronically
  • Appraisal Review Request managed electronically
  • Reports, Appraisals and Reviews are uploaded by the author and retained perpetually
  • Appraiser Performance records are maintained automatically
  • Approved Appraiser List management
  • Contractor Performance records are maintained automatically
  • Management Reports may be created on demand (production, status, valuation statistics)
  • Outsourced Service accessible 24x7 via private Internet accounts with full security

Benefits to Lender:

  • Competitive electronic bid process
  • Improved efficiency
  • Reduced turn-around time
  • Accurate status tracking
  • Information-rich reports
  • Vendor performance scoring
  • Electronic document access
  • Documented compliance
  • Reduced IT costs
  • Proven security
  • Independence
  • Compliance with Interagency Appraisal and Evaluation Guidelines published December 2, 2010
  • Expertise of personnel ordering appraisals and performing technical reviews
  • Ability to pass all related fees along to the borrower vs. fixed cost of setting up internal system

To Borrower:

  • Faster turn-around
  • Reduced effective fees

To Vendor:

  • More bidding opportunities
  • Remote access
  • Assignment tracking
  • Electronic document collaboration
  • Secure document transmittal
  • Reduced paperwork

Fees:

  • Set-Up Fee (Appraisal Ordering only) - $250 one time
  • Subscription Fee (Appraisal Ordering only) - $75/month
  • Appraisal Order - $95/Commercial & Evaluation
    • $65/Residential
    • $55/Additonal per Appraisal - Out of Territory Order (Search for appraiser outside of network)
    • $25/Construction Recertification-Inspection
  • Technical Review - $250/Commercial Appraisal
    • $150/Evaluation
    • $90/Residential Appraisal
  • RIMS Fee – 2%/Appraisal (normally 3% for non MSP users).  No charge for Appraisal Reviews.
  • External Appraisal Fees Charged by Vendor (cost of each appraisal passed thru to the borrower)
RDK & Associates Oklahoma Registration Number 60072AMC