So it looks like Lendervend has made a HUGE sweep of its appraiser roster. It appears as though a LOT of appraisers were "Suspended" and are not able to get orders right now. From what I have been able to gather, they wanted to clean out slow and sloppy appraisers, and get rid of people breaking the "third party capture" rule. They went through their list and looked at turn times, and conditions, and removed anyone they felt was not performing. They SAY they also Suspended a lot of appraisers that were using those "order grabbing" companies, but I am skeptical of that. The only one I can think of that they would have been able to track at this point would have been the one that required you to change your email address to their servers (which is stupid in the first place because your email address would show that you were using the service, but whatever). I do, however, believe that Lendervend is starting to hire some new technicians, or the current ones are getting up to speed, and they soon will be able to track anyone using those third party order grabbing companies.
If you were one of the "unlucky" ones that was Suspended, all hope is not lost. Give Lendervend a call or email and plead your case. Send them a letter explaining why you did (whatever you were Suspended for) and how you are going to change course and learn from it. They are just people over there, like you and me, and if you show them that you are willing to correct your performance you might have a shot. Of course, in order to get orders you will need to hire someone to sit at YOUR machine (or in your office anyway) and check the site for orders, but if you can get even 1 a day it should pay for itself.
With all of this being said, I am making some changes too. No longer am I going to create tools for Lendervend order grabbing. I believe that era is over. They are really showing how concerned they are with automation, and are looking to start making examples of people that do not live by the Terms and Conditions (for both order capturing automation and turn times/quality of work). I am now going to focus my attention on helping appraisers become better at appraising. Not necessarily at "how" to appraise, there are better training and educational outlets for that, but on how to be a better Appraiser. This means knowing what tools to use, how to be as productive as possible, how to speak to clients and underwriters, how to explain appraisals to the borrowers, etc. I am not doing this because I see myself as any better than any of you, but I know that if I research, write about, and present this sort of information, it will make me better at all of these things.
Wednesday, May 19, 2010
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I have only completed 5 appraisals for Lendervend over the past 6 months and I just noticed I was suspended. No explanation as to why. I was never asked for a single addendum or explanation on any of my reports. Two of the assignments I was unable to schedule inspections due to the borrower being out of town and my turn time went from 3 days to an average of 9. I have emailed them 5 or more times to try and get an explanation of the suspension but have not received a response. Do you have a phone number of someone in the appraisal department that I could call and try to clear things up? Thank you.
ReplyDeleteDaron
I would recommend calling Bob Johnson, who seems to be the person in charge over there. Just call the Lendervend number on their website and ask for him. Leave him your name and email address in case he doesn't have time to call back. I do know that they are making some final decisions at the end of this month on a lot of the Suspended accounts.
ReplyDeleteI was also suspended with no explanation. I read the information on their website stating they were suspending accounts with slow turn around. I have submitted my information in detail showing any delays in getting inspection dates were on the part of the borrower and I still always had my reports turned around the next day or within 48 hours but I can't get a response from anyone. They are very poor with communication. Seems they will only have any contact with the appraiser's if they have a question for you. They need to do a review of themselves and figure out that they should be suspended for lack of communication and poor public relations with their vendors.
ReplyDeleteI have sent a complaint to hvcc freddie mac in regards to lendervends appraiser practice. I firmly believe that we should not be held accountable for third party issues. Such as the time it takes to schedule an appointment, receive information, receive feedback from the lender and the time it takes to get an appraisal signed off in there QC department. Our turn times are a combination of peramiters and we should only be held accountable for what we can control. Lendervend wants us to be held to a higher standard than they hold themselves. It can take days to get an explanation on some of the erronious conditions that they ask for and yet we are being punished for there ineptitude.
ReplyDeleteUnfortunately Freddie Mac does not care how Lendervend runs it's appraiser panel in regards to turn time requirements or how they calculate those turn times. This is an issue between you and Lendervend themselves, and I can guarantee that Freddie Mac will NEVER get involved in this argument.
ReplyDeleteBob Johnson is not with Lendervend, he works for Provident internal appraisals. Calling him will only get your messages forwarded around and probably lost in the shuffle. I am on the panel, and while I disagree with how they calculate turn time, all you have to do it make sure you're faster than the next guy. Everyone is evaluated using the same standards, so there's no point in whining. If you can't pull a better turn time than 50% of the panel, you're not going to be part of their panel for long.
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