Appraiser FAQ

Prospective Panel Appraiser Members – Frequently Asked Questions

When will I receive my first order?

Vesta Valuation will officially begin operations on January 3, 2011.  We are in active negotiations with three potential customers, and we’re working to finalize our production technologies and interfaces.  We expect to begin placing orders on a nation-wide basis in mid-January.

Are you a national or regional provider?

Vesta Valuation in a national AMC offering appraisal management products and services in all 50 states. We also have plans to support U.S. territories, as needed.

What are your fees?

In compliance with the recently enacted changes to the Truth in Lending Act, Vesta Valuation will pay customary and reasonable fees in every market.  Fees will vary based on the size and complexity of the subject property. 

At Vesta we recognize that AMCs, in an effort to maximize their profitability, have lowered appraiser payouts.  Our goal is to emphasis quality and value, and we will not set fees at a level that attracts appraisers who, in an effort to make the lower fees viable, can only produce mediocre work.

What is your turn-around-time expectation?

Our turn-around times are set based on our lender expectations and the Service Level Agreements we negotiate with each customer.  In recent years, as our industry has emphasized quality over pace, we’ve seen turn around times in the seven to eight day range for interior inspected appraisals in metropolitan areas.

Will you be a registered AMC in my state?

Yes.  Our state registration process is well underway, and all filings will be completed by January 3, 2011. 

Are you really different from the typical national AMC?

Yes.  Over the years working as both appraisers and AMC executives, our leadership team has cultivated a desire to do things differently. Most appraisers see a value in AMCs.  Too many appraisers see AMCs as a necessary evil.  The typical concerns are well known:  fees are too low, there are too many calls and interruptions, AMCs can be slow to pay, there are too many correction requests, etc.  Appraisers are a critical part of the lending process, and AMCs deliver necessary value to mortgage lenders.  By reimagining the relationship between appraisers and AMCs, and by monitoring and cultivating appraiser satisfaction, we believe that we can change the way appraisers and AMCs collaborate.

Why should I join your panel?

See our top ten reasons.