Appraiser Application Checklist
Application Requirements:(please initial all blanks)
____Complete the online sign up process on our website, www.eamc1.com, and provide the following:
Basic Company Information Individual Appraiser information Fee Agreement Copy of Current State License Copy of current W‐9 Proof of Company E&O Insurance Proof of Appraiser E&O Insurance (If Applicable) PDF of VOIDED check for (net 30) EFT
____ Review & Sign Appraiser Qualifications ____ Review & Sign Appraisal Review Ratings ____ Review & Sign Payment Detail Sheet
____ Sign and date Certificate of Non-Influence & HVCC Compliance Statement ____ Sign and date Conflict of Interest Statement
____ Sign and date e-AMC Acknowledgement of Terms
Please return this checklist with your complete package via PDF upload in e-AMC’s e-Trac “new appraiser” portal:
http://www.eamc1.com/Appraisers.html
If you have any questions, please contact a representative at: Email – [email protected] or 1-(512)-650-3971
Appraiser Qualifications
To be eligible for inclusion in the e-AMC Vendor Network, an appraiser must meet the following minimum experience and licensure requirements.
The applicant must have a minimum of two (2) full year’s residential appraisal experience and be licensed or certified by each State included in
the applicant’s service area.
By completing the appraiser engagement package, the appraiser hereby represents and warrants the following:
(a) That they have and shall maintain any necessary licenses to perform the appraisal work required in accordance with state/local regulations and
requirements
(b) that they shall immediately inform e-AMC in the event they no longer maintain such licenses
(c) that they will, at all times, conduct the appraisal within requirements as set forth by local, state, and/or federal authorities
(d) that they shall carry sufficient E&O insurance to meet lender/investor requirements.
Please note that the following types of
appraisers DO NOT meet e-AMC’s
minimum requirements and need not
apply!
Trainee
Associate
Registered
Assistant
X .
Appraiser Signature
Payment
Under no circumstances are you to accept any form of payment
from the property owner, borrower, selling Realtor, or listing
Realtor. If a homeowner has questions regarding fees or payment,
please provide them e-AMC’s phone number and direct them to
contact us. e-AMC distributes payment for services no later than
forty-five (45) days after receipt of the final appraisal report
depending on the option selected below: (note: these are maximum
times)
Please Choose 1 of the following:
□
EFT – Electronic funds transfer (net 30):
*(if selected, please include a PDF of a Voided Check with this package)
**(By checking this box, the user authorizes e-AMC to deposit to this account)
□
Pay by Check (net 45):
(if selected, e-AMC will deliver all payments to the address, as
entered in your vendor set-up on the e-trac system. All vendors may
access their receivables and closed orders via their secure portal,
24/7.
e-AMC Payment Policy: (subject to state law)
If our clients cancel an order, the following rules apply:
1. Canceled prior to Inspection: $0 Due to appraiser.
2. Canceled post Inspection, but prior to Completion: 50% due
to Appraiser.
3. ***e-AMC agrees to pay all appraisers 100% of the amount
on the appraisal request when the COMPLETE appraisal is sent
to e-AMC via our portal AND marked COMPLETE on the status
update.
***e-AMC uses appraiser status updates for the above process.
All updates are date and time stamped.
Report Delivery
1. Reports are due within 48 hours after property inspection, but no
later than five (5) business days after you receive the order. Exterior
inspection assignments are due within three (3) business days after
assignment.
2. Appraisal reports must be submitted via our website in PDF
format.
3. e-AMC will specify the client to be named in the report.
Always include e-AMC with the lender/client in your report.
4. Revisions requested by our QC department must be made within 24
hours of request.
Post Completion
In the event that the client expresses concerns in regards to the
appraisal report or specifically requests additional reporting
requirements, e-AMC may contact you to comply with such requests
assuming they are compliant with the Uniform Standards of
Professional Appraisal Practice (USPAP), Fannie Mae and Freddie Mac
guidelines, the Real Estate Settlement and Procedures act (RESPA),
the Financial Institutions Reform Recovery and Enforcement Act
(FIRREA), and/or the Federal Housing Administration (FHA).
Post completion requests are considered to be included in the
original scope of the assignment and must be made within 24
hours of the request.
Certificate of Non-Influence & HVVC Compliance
e-AMC supports 100% appraiser independence, as well as strict
adherence to the statutes and guidelines set forth in the
Home Valuation Code of Conduct (HVCC).
e-AMC’s “Certificate of Non-Influence & HVCC Compliance”,
which accompanies every appraisal report states, “e-AMC – an
independent, third party appraisal management company – certifies
that the above referenced appraisal report was completed in strict
adherence to the HVCC and our non-influence policy and process.”
Please review and initial the items below:
_____ I understand and agree to provide services to e-AMC in
accordance to the statutes and guidelines set forth in the HVCC.
_____ I understand and agree that I am to provide my professional
and objective opinion of value and that I am NOT to consider any
estimated or target value that a homeowner or real estate agent may
provide at the time of property inspection.
_____ I understand and agree that I am to provide my professional
and objective opinion of value and that I am NOT to allow the
purchase price in a purchase agreement to influence my opinion of
value.
_____ I understand and agree that I am to provide my professional
and objective opinion of value and that I am NOT to allow hearsay or
unverified information to influence my opinion of value.
Please initial each section of this acknowledgement, sign
below, and return with application package.
_________________________________ _____________________
Signature of the Appraiser/Applicant Date
_______________________________________
Printed Name of the Appraiser/Applicant
Conflict of Interest Statement
In addition to the Contingent and Limiting Conditions acknowledgment
that is part of every appraisal report, the following conflicts of interest
are to be addressed:
_____I do not have a personal relationship with and I am not a family
member of any employee of any e-AMC Client.
_____I will not accept an appraisal assignment that is for a mortgage
broker with whom I have a personal relationship.
_____I will not accept appraisal assignments associated with listings
or sales that have been generated from my office.
_____I will not accept an e-AMC appraisal assignment if I have a
personal or business interest in the property being appraised.
_____I will not accept an e-AMC appraisal assignment for a field
review if I can identify the original appraiser of the report to be
reviewed and I have a negative relationship with that appraiser, if I
cannot be objective in my review.
Please initial each section of this acknowledgment, sign below,
and return with application package.
______________________________ ____________
Signature of the Appraiser/Applicant Date
____________________________________
Printed Name of the Appraiser/Applicant
Acknowledgement of Terms
The undersigned agrees that if approved, he/she (“Provider”) will be acting as an independent contractor and not as an employee of e-AMC, and as such, acknowledges and agrees to the following:
e-AMC has made no guarantee of any volume of business.
e-AMC is providing a variety of services in exchange for the amount paid to e-AMC by the client or borrower.
Upon written notification, Provider may be removed from e-AMC’s approved appraiser list for failure to abide by the terms of this engagement package or failure to maintain a Quality Review Rating of satisfactory or better. (subject to state law)
Provider must adhere to the production and qualification requirements stated in this engagement package.
Provider must inspect the subject property for every e-AMC order that he/she has accepted and/or reassigned to an appraiser or trainee. The e-AMC approved appraiser is allowed to sign as the Supervisory Appraiser if the “Did Inspect” box on the appraisal form is checked.
Furthermore, the undersigned certifies that he/she has read, understands, and agrees to the following privacy policy:
Data Sharing and Confidentiality
e-AMC and its customers will provide the appraiser with customer information (e.g. name, property, address, phone number, and the fact of a customer relationship) in order for the appraiser to conduct an appraisal for the customer. The appraiser shall maintain the confidentiality of all customer information provided or related to the appraisal and use it only for the purposes of providing the appraisal with this privacy policy, available upon request, and applicable federal and state laws and regulations, including but not limited to Title V of the Gramm-Leach-Bliley Act (15 USC 6901 et seq.) and its implementing regulations (16 C.F.R. Part 313). The appraiser specifically acknowledges that it is prohibited from directly or indirectly selling, loaning, renting, transferring, disclosing, conveying, or otherwise making available to any third parties any customer information provided or related to the appraisal without the express prior written consent of e-AMC. e-AMC conducts a quality control review on each appraisal report submitted. We submit the appraisal report to FNC, Inc. and obtain a quality control report from them. Your signature below authorizes us to submit the appraisal report to them.
Indemnity and Hold Harmless
PROVIDER SHALL PROTECT, INDEMNIFY, DEFEND AND HOLD HARMLESS e-AMC, ITS PARENT, SUBSIDIARIES, DIRECTORS, OFFICERS, EMPLOYEES, REPRESENTATIVES, AGENTS, SUCCESSORS, AND ASSIGNS FROM AND AGAINST ANY AND ALL LOSS, DAMAGE, COSTS, EXPENSE, ACTION, CAUSES OF ACTION, OR LIABILITY (INCLUDING ATTORNEYS’ FEES AND COSTS) DIRECTLY OR INDIRECTLY ARISING FROM OR ATTRIBUTABLE TO THE ACCURACY, COMPLETENESS AND COMPLIANCE OF THE APPRAISAL REPORT WITH ALL LAWS AND/OR THE MISUSE, IF ANY, OF THE DATA SUPPLIED TO FNC, INC. IN RELATION TO e-AMC’s QUALITY CONTROL PROGRAM.
Limitations of liability and exclusion of damages.
e-AMC’s ENTIRE LIABILITY, AND PROVIDER 'S EXCLUSIVE REMEDY WITH RESPECT TO ANY DISPUTE WITH e-AMC SHALL BE THE TERMINATION OF THIS AGREEMENT. IN NO EVENT SHALL e-AMC BE LIABLE FOR ANY SPECIAL, INCIDENTAL,
CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF USE, LOSS OF BUSINESS, LOST PROFITS OR LOSS OF DATA OR INFORMATION OF ANY KIND, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT, WHETHER OR NOT e-AMC HAS BEEN ADVISED OF THE POSSIBILITY OF
SUCH LOSS OR DAMAGE. IN NO EVENT SHALL e-AMC’s LIABILITY TO PROVIDER ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT, WHETHER IN CONTRACT, TORT OR OTHERWISE, EXCEED THE AMOUNT ACTUALLY PAID BY PROVIDER TO e-AMC HEREUNDER WITHIN THE MOST RECENT 12 MONTH PERIOD PRIOR TO ANY CLAIM. TO THE EXTENT THAT A STATE OR JURISDICTION DOES NOT ALLOW THE EXCLUSION OR THE LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, IN SUCH STATES OR JURISDICTIONS, AS TO THAT STATE OR JURISDICTION e-AMC’s LIABILITY SHALL BE LIMITED TO THE FULL EXTENT PERMITTED BY LAW.
NO ACTION, REGARDLESS OF FORM, ARISING OUT OF THE TRANSACTIONS UNDER THIS AGREEMENT MAY BE BROUGHT BY EITHER PARTY HERETO MORE THAN ONE YEAR AFTER THE CAUSE OF ACTION HAS ACCRUED, EXCEPT THAT AN ACTION FOR NONPAYMENT MAY BE BROUGHT WITHIN ONE YEAR AFTER THE DATE THE LAST PAYMENT WAS DUE.
Miscellaneous Provisions
a. Governing Law. All terms of this contract shall be governed in accordance with laws of the state of Texas.
b. Severability. In the event that any court of law or other governing authority deems any provision of this contract to be invalid, illegal, or unenforceable, said provision shall be deemed severed from the contract, and the remainder of the contract shall remain effective and in force; provided, however, if the severed portion is a material term of the contract either party may terminate the contract.
c. Termination of Contract. This contract may be terminated by either party without notice.
d. Non-Exclusivity. The parties agree and acknowledge that this contract is not an exclusive contract to either party.
e. No partnership/agency. The parties acknowledge that at all times they are operating as independent parties. Nothing contained herein shall constitute a partnership or joint venture between Company and Appraiser. Nothing in this agreement shall be deemed to create an employment relationship, and neither party shall be entitled to any benefits of employment.
f. Entire Agreement. This Agreement is the final and exclusive statement of all agreements and understandings between the parties with respect to the subject matter described herein. This contract may be amended only by written instrument signed and acknowledged by both parties to the contract.
__________________________________________________ ______________________ Signature of the Appraiser/Applicant Date
__________________________________________________ Printed Name of the Appraiser/Applicant
