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Take the $10,000 Challenge

No, this offer is not for appraisers.  This offer is for lenders interested in working with the ironically-named appraisal management company (AMC) InHouse.

InHouse is the best AMC in the industry – just ask them, they’ll tell you.  “InHouse Solutions is simply the best AMC in the industry…And we’re so confident that we’re the best that we will bet on it.”  So, starting in July, InHouse is betting that they can beat any lenders AMC in terms of turnaround time and appraisal quality.  If InHouse can’t beat the lender’s current AMC then the lender will get $10,000.  Lenders must use the InHouse Connexions platform.

InHouse President told Valuation Review (here, membership required)There’s no denying that a lot of appraisal management companies sacrifice quality in exchange for faster turntimes, but speed and integrity don’t have to be mutually exclusive,” and “InHouse Solutions has a zero tolerance approach toward negligence and fraud. We’ve created a formula for measuring each appraiser’s actual track record in the areas of critical importance to lenders. We’re committed to high quality and the fastest turn times — and we’re here to prove it.”

How does this impact appraisers working for InHouse?  Well, the company is silent about fees (at least on their Web site) but acknowledges the importance of the appraiser.  “Our belief is that if we treat our appraisers well, they will give our clients the best service, and together we can become the best AMC in the industry.”

Comments
  1. Jerry, I’ll call BS on that one.

    “We’ve created a formula for measuring each appraiser’s actual track record in the areas of critical importance to lenders. We’re committed to high quality and the fastest turn times — and we’re here to prove it.”

    What, exactly, are the areas of critical importance to lenders (in their opinion)?

  2. Thanks Nar

    Imagine ANY job profession in this industry like the LO, or Broker and their Agents being dictated by a third party on how they get paid, how much and how fast. At least you have lobbyists like NAR , MBA etc. Residential Appraisers are members of NAR and yet have continued to be thrown under the bus AND robbed at the same time.

    Simply stated, Residential Appraisers are being treated by all the players as “employees” summarily chocking them to death.

  3. Jerome Nagy

    Frank, I’m just reporting the story. I leave it to the experts in the field to determine the value proposition offered by InHouse.

  4. Retired Appraiser

    An Answer To Francois’s Question Above :

    “What, exactly, are the areas of critical importance to lenders (in their opinion)?”

    Answer: How much money can we generate with this new AMC thingy that we created last year boys? My Gosh; we’re making more with this new gadget than we are through banking!!

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