companies can be a headache for brokers. Local AMCs may provide their own ordering platform, but can also fall short when it comes to compliance and oversight. With national companies, it can be a time-consuming process to establish an account.
Those are some of the problems PCV Murcor
, a leading valuation company, is aiming to solve with ValuationsDirect
, its new online appraisal ordering platform.
“We wanted to provide solutions for some of the smaller institutions that would have the same benefits that a larger institution had,” said Cindy Nasser, vice president of operations for PCV Murcor. “We built it specifically to target the mortgage broker community. It’ll work for anybody who orders an appraisal, but it was geared from the feedback we received from the mortgage broker community.”
Nasser said that ValuationsDirect allows originators to order an appraisal with a single credit card payment – no lengthy signup process required. Clients receive online, time-stamped progress reports, and can also check on their appraisal status with live customer service representatives.
“They’re dealing with the same customer service team, so they’re not having to talk to somebody different every time,” Nasser said. “The person they’re speaking with is very familiar with their order. I think it provides the best service that they’ve had. That’s evident as well in our turnaround times, because within the space that we’re in, our turnaround time is superior to (our competitors). We’ve built a model to provide not just speed, but quality and the best customer service. ValuationsDirect was built in direct response to feedback from our customers. Mortgage brokers don’t get paid until they’re done, so we can’t be an impediment to that.”
ValuationsDirect also utilizes PCV Murcor’s quality review standards – which means appraisals are reviewed by other qualified appraisers, a system that delivers some of the lowest revision and appeal rates in the industry.
“All the appraisers that we use have to meet very strict quality guidelines, and we’re using the same appraisal panel that we do with the larger lenders,” Nasser said. “Because we have appraisers reviewing every single appraisal, they know what goes into a good appraisal. The average tenure of our appraisal staff is 25 years appraising. It’s not just someone who’s been trained off a checklist. They have practical experience, and can look for red flags. … That not only allows us to have the best customer service … but we understand valuations very, very well, and we deliver a product that the client can be comfortable with.”