As a nationwide appraisal management company we have to stay ahead of the game so we just upgraded our vendor payroll process. Real estate appraisers now receive payment for completed orders on a rolling 21 day pay period.
Appraisers can expect us to process appraisal payments for completed files within 21 days of completion getting checks in hand 7-10 days quicker than the previous pay schedule. This change has been put in to place to create confidence and continue to build upon relationships with their appraisers throughout the nation. The new payment schedule will allow appraisers to receive payments in a much more desirable time frame. “Appraisal management is a sensitive subject and we realize that by paying our appraiser partners out at higher rates and in faster time we are able to provide more quality appraisal reports to our clients” says Cari Burris, CEO of NAN.
In following the “Appraiser Independence” guidelines, appraisal fees are collected in house by a Nationwide Appraisal Network production team member or they are paid directly to us by the lender. The nationwide AMC provides a portal for their approved appraisers giving them access to their receivables, payables and all files assigned to them ensuring proper communication and management of appraisal receivables. Approved appraisers also have direct access to the accounting department for any payment inquiries and are always responded to promptly. Burris also states, “At NAN we have a strong focus on communication and customer service. Guaranteeing payments to our appraiser partners and making sure they have all the means necessary in order to communicate with our office efficiently is just as important to us as the service we provide to our clients.” Each policy and procedure put in place is a measure toward ensuring compliance with all parties.