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The following is a position available with First American, an AMC (Appraisal Managament Company).  I have copied it directly from their website.  It can be viewed at http://jobs.firstam.com/jobs/205840-Appraisal-Coordinator.aspx.

Note the priorities listed in the ad....  The areas bolded are my emphasis.  The comments in red are mine as well.

First America  - Bloomington, MN
Tuesday, February 02, 2010

The Information Solutions Group, a division of The First American Corporation (NYSE:FAF), is the largest collector and provider of real estate information used by businesses to value, locate, and analyze properties across the United States. With the world's most comprehensive database of real estate information and property characteristics, our companies transform complex data gathered from thousands of public records and private sources into meaningful business information used by mortgage lenders, title companies, government agencies, legal firms, and others. For more information, please visit our website www.firstam.com. If you are looking for a growth-oriented, financially stable company that's been in business since 1889, please consider our opportunity.

POSITION SUMMARY:

Processing Analysts are responsible for the timely and accurate placement of all Conventional and FHA orders within 24 hours of their receipt. Proper placement is ensured by the PA’s analysis of the appraisers available and selection of one that meets the company standard turnaround time, profitability requirements, and quality standards. (quality standards is last in this list, after turn time and profitability) Complete and concise documentation, as well as clear communication to all parties, is required on all files.

ESSENTIAL FUNCTIONS:

• Appraisal Management functions including answering incoming calls, placing of FHA and Conventional orders, telephone contact with the customer as needed, managing your assigned branch in box and other duties as assigned. These responsibilities may be changed from time to time as appropriate.

• Placing orders. Focusing on rushes, orders on Hold, Finals and orders over 48 hours old first. Order Placement standards are as follows: Conventional – Placed with in 2 hours of activation, FHA – Placed with in 4 business hours, Declines – Reassigned same day, and Holds – Followed up on daily until resolved. The goal is to have 92% of all orders placed with in 24 hours. Each PA will be responsible for calling on any non accepted orders within their area along with placement of new orders.

• Assuring vendor acceptance of the Quantrix Valuation standard turn around time of 5 business days.

• If an appraiser requests a higher fee or longer tat, the PA is expected to get a minimum of 2 other quotes (for a total of 3) in order to determine the best appraiser (lowest fee) option for each order

• After eliminating all reasonable options in VOM (by checking previous orders in the subject area and checking the vendor coverage detail report) a One Time Vendor can be used, check www.yahoo.com or the other web-sites given.

• Shorten turn around times by establishing a good flow of communication with our appraisers, keeping in contact with both the appraiser and lender to accomplish this goal.

• Holds – When the reason a hold was requested is out of the appraiser’s control, place the order on hold and contact the client to update them and-or request needed information.

• Fees – Products have a standard flat fee regardless of what state the property is located in on all properties up to 1 million dollar or 1.5 million dollars dependent on business line. For this reason it is important for PAs to attempt to place the order to an appraiser with the lowest fee to maintain our profitability. On orders over 1 million dollars the PA is to obtain 3 fee quotes from 3 different offices before assigning the order. In situations where we must use a one time vendor or fee appraiser the PA will need to check as many options as possible to obtain the lowest fee.

• The use of fee appraisers should be limited unless determined to be the best option

• Documentation Habits – ways to improve
o Use the correct abbreviations and acronyms.
o Be clear and concise.
o Do not over abbreviate.
o Do not abbreviate when downloading notes to the client.
o Record the name of the person with whom you spoke.
o Record the person’s position.
o Do not use one or two word follow-ups.
o Record the reason for a fee increase request.
Job Qualifications EDUCATION, EXPERIENCE AND SKILLS:

To perform this position successfully, an individual must be able to perform each function satisfactorily. The requirements listed below represent minimum levels of knowledge, skills and/or necessary abilities. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

REQUIRED:

• High School diploma or equivalent
• Strong analytical and problem resolution skills.
• Ability to be creative regarding current processes and future improvements.
• Demonstrated ability to work independently and meet multiple goals and deadlines.
• Effective time management and organizational skills.
• Proven ability in building, nurturing, and protecting customer relationships.
• Excellent oral, written, analytical and interpersonal communication skills.
• Professional demeanor.

PREFERRED:

• Proficient computer skills in Window-based software products such as Word, Access, Excel, Email and Power Point.
• 2-4 year college degree or equivalent relevant experience in the customer service field.

First American offers an empowered work environment that encourages creativity, initiative and professional growth. Our competitive salary and benefits package includes:

• Health, dental and vision care
• 401(k) retirement savings plan including a company match tied to profitability
• Long-term disability insurance
• Short-term disability insurance
• Discount stock purchase program
• Tuition assistance program
• Title and escrow fee reimbursement program
• Company credit union
First American Corporation is an Equal Employment Opportunity/Affirmative Action Employer and maintains a Drug-Free Workplace.
% of Travel Required None
NOTICE: Individual is responsible to adhere to First American Corporation’s and department’s compliance and information security policies, practices, and procedures, including the handling of systems and data, in the performance of the role.

Mortgagee Letter 09-28 discusses appraiser independence and appraiser fees.  This letter requires FHA approved lenders to ensure that all parties to the appraisal process; appraisers, AMC’s or other third parties, are compensated at rates that are customary and reasonable and are commensurate with the level of the respective service provided.  What does customary and reasonable mean?  This can be interpreted differently by anyone reading the letter.  HUD responds with this:

    "Customary and reasonable appraisal fees are reflective of those fees established and negotiated by an FHA approved self employed independent fee appraiser or an appraisal firm that may directly employ FHA approved roster appraisers or retain FHA approved roster appraisers as independent contractors, for appraisal services rendered, regardless of whether a lender, AMC or a 3^rd party company or vendor is ordering/requesting appraisal services. The fee charged must be commensurate with the level of services provided and should reflect the amount of research, level of difficulty, and due diligence required on the appraiser’s part to produce a credible, reliable and accurate appraisal report that is in compliance with all FHA guidelines and USPAP."

The customary appraisal fees in the Hampton Roads market is between $350 and $400 for a single family appraisal.  This is far from the $150 to $250 that AMC's want to pay for FHA appraisals.  So when is FHA going to enforce this guideline that they set?  They are quick to enforce the guidelines having to do with writing the reports and our analysis.  I sure hope the FHA backs us appraisers on this and does it quickly.  We can't keep working at these low fees.  I hate to keep harping on this subject but it is tough times right now.  Our educational requirements and licensing requirements have increased as well as what we are required to include in the report, which means we are investing more time in each assignment and our pay is decreasing.  We need help and we need it soon!  I have bills I need to pay and we are losing good appraisers.