Appraisal Vendors
RECOMMENDATION: For Texas loans please use Appraisal MC. They are based in Houston and have a larger number of Texas appraisers than Pendo or Market Valuation.
For KS and MO Pendo would be best because they are based in Kansas City.
Pendo - Red Diamond's Do Not Use Appraiser List:
- Dustin Davis - Southlake, TX - MP requested he is removed from consideration by Pendo.
- Russell Martin - value was low - reconsideration required, raised it 10% with better comps - MP loan March 2021
- Fudge was a huge problem at 1105 Diamond Leaf Road, Northlake - had to do value reconsideration
- Chase Clark - 9508 Acorn Lane, Oak Point, TX | Rachel's loan - October 2020 - Perry Homes - New construction and the square footage was incorrect.
These have not been removed but probably should be:
- Garrett Pearce - GSP Appraisal Group - 936 W. Exchange Parkway, Allen, TX 75013
- Multiple problems with this appraiser:
- Low value, cash-out refi in Grapevine, Rachel's loan - would not help with the reconsideration 4212 Fair Oaks Drive
- Don't have the specifics but a problem with a Property in Decatur. He's in Allen.
- 7721 Silverleaf Drive, North Richland Hills, TX for Fitsimones in North Richland Hills and missed an entire room.
- Multiple problems with this appraiser:
- Jeffrey Oats - Oats Appraisals - Rowlett -
- File: Geyer File for Chris S. in Rowlett.
- Elton Ray Cross
- File: Joshua Lewis - Desoto, TX - Chris's file - lots of problems and delays - November 2020
Appraisal Transfers with SunTrust - aka Truist:
Red Diamond Appraisal Guidelines
Red Diamond Home Loans will generally follow Fannie Mae and Freddie Mac's guidelines on appraisal quality. See below for more details of those guidelines from the agencies.
Below are our guidelines for how we will handle loans with various appraisal scores:
- “The purpose of Collateral Underwriter is to identify appraisals with a heightened risk of property eligibility or policy compliance violations, overvaluation, and appraisal quality issues. “
- “The objective of CU is to assist lenders with assessing property eligibility and appraisal quality. It does not provide approvals or denials, nor should it be used as a basis for a credit decision.”
- For RDHL a score of 2.5 or lower would be an acceptable risk. On a loan with a score 3 or 4, RDHL will review the warnings and see if the appraiser can justify/correct the items listed in the SSR reports. RDHL will reserve the right to decline a file with an appraisal score of 5. A score of 4 would need to be approved by RDHL management to move forward.
Red Diamond has a variety of AMC's to choose from:
Appraisal MC is a Houston based AMC that handles appraisals in 39 states.
Julie Wolpert | Operations Manager | 5100 Westheimer Rd., Suite 200, Houston, Texas 77056
D: 832.263.6630 | F: 713.581.8662 |
Your account manager is Britney Stetzel and will be the main point of contact for you, should you have any questions regarding the appraisal process contact your Account Manager: Britney Stetzel Direct Line: 832-263-6628 Email Address: [email protected]
If you have any questions regarding completed appraisals & QC Review or revisions, please feel free to contact your QC Review Contact -Completed Appraisals: Brianna Frerich Direct Line: 832-529-6642 Email Address: [email protected]
For initial setup the default user name is your email and default password is welcome
Market Valuation Services
Marketing Valuation Services is based in Atlanta. They have a local AE that can assist you along with a lot of support in Atlanta.
Office Phone: 888-259-0988
Contact People: Rick Mcinnis | State Manager | [email protected] |
Client Relations | Sales: Michelle Rackley | [email protected] | Direct 470-297-0449 | Office: 678-965-2038 X410
Director of Sales: Donna Stephens | 2450 Atlanta Highway, Suite 701, Cumming, GA 30040 | Cell: 770-356-5384 | [email protected] |
For new user setup see below:
User Setup: Contact Michelle Rackley (info below)
I have created your log-in, and emailed your credentials . You may visit: https://appraisalflo.helpdocsonline.com/ appraisal-order-overview-2-2-2-2 for a comprehensive step-by-step guide to placing an order through your Encompass 360 system. Please note to choose “appraisal flo” in the AMC drop down menu and not “Market Valuation Services”.
Feel free to reach out to me via email or call me directly. I will be happy to answer any questions you might have and be a partner in success.
For everyone here at MVS, we look forward to working with you to facilitate an extraordinary 2020!
Michelle Rackley | Market Valuation Services | Client Relations Specialist | Email [email protected] |
Direct 470.297.0449 | Office 678.965.2038 ext. 410 | Web www.mvsvc.com
Pendo AMC Best for KS/MO
Ordering Appraisals with Pendo: You can order through Encompass at no extra cost. The login credentials that you already have will work for Encompass. Email Explanation Here. Previously, we would fill out the Appraisal form from Encompass and Email it to Jessica Cochran. If you are having trouble, I recommend calling Zach!
If you need login credentials to Pendo, send Zach the following information and he will sign you up the same day: Name, Email, Phone, Title.
Contact List for Pendo Linked Here
Company Website: https://www.pendomanagement.com/
Jessica Cochran: Team Lead & Main Contact
- Email: [email protected]
- Phone: 816-875-4407
Cristy Conolly: VP, Operations
- Email: [email protected]
- Phone: 816-875-3600
Zach Shellenberger: VP, Client Engagement * For now, who to contact to get credentials to get into Pendo
- Email: [email protected]
- Phone: 816-875-3578
To get credentials to be able to login to Pendo and check on an order, contact Zach Shellenberger and he will set you up.
Pendo AMC is trying to set up a direct link through encompass, but until then we will email the forms to Jessica.
If you wish to appeal the value of an appraisal received from Pendo's services, the form is attached below. We can only send a maximum of 5 comparables to the appraiser for them to reconsider.
If we (RDHL) want to highlight the 5 sold comps that you feel like are the most comparable, Zach can fill out the value appeal for you.
ACT is a Chicago based Appraisal Management Company. We are set up with them for Kansas, Missouri, Colorado and Oklahoma Primarily
SWBC
SWBC is a San Antonio based AMC. Please reach out to them anytime should you have any issues...and not the appraiser.
AVM's From Credit Plus
