Friday, January 8, 2010

Lendervend "Tier" Status

I get asked quite frequently if I know what the "Tier" system is on the Lendervend account and how it is calculated. According to my sources in Lendervend, it will dictate how many current orders you can have in your queue at any one time. Tier 1 appraisers will be able to have 10, Tier 2 will be able to have 2, and Tier 3 will be able to have 2 as well (so why differentiate?).

According to the Lendervend website, the Tier is based on turn time:

  • Tier 1: Average Turn Time 0-5 Days
  • Tier 2: Average Turn Time 5.01-10 Days
  • Tier 3: Average Turn Time Over 10.01 Days
As you all know, the turn times are currently calculated using time within QC for each order. Lendervend wants this fixed before it will actually implement the Tier System and start restricting order volume based on what Tier you are in. They are also waiting until they fix the time calculation to take out weekends and holidays (according to my source).
Posted by Charlie B. at 3:35 PM
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2 comments:

  1. AnonymousFebruary 23, 2010 at 9:03 AM

    My Appraiser Idenity was stolen and put on Lendervend with out my knowledge, they signed up with my license, my address, my tax ID number, but their phone numbers and their bank accounts, They contacted me respresenting thems selves as a AMC, they sent the orders to me at a reduced fee, however the delay between them getting the orders, and me receiving the orders from them and completing them with 72 hours, I am at a 2 Tier. Lendervend wont reset.

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  2. Charlie B.February 24, 2010 at 10:15 AM

    That sounds horrible. Have you filed a criminal report for the identity theft? I would strongly suggest doing so. If someone has stolen your identity, your Lendervend Tier status is the least of your worries.

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