PRM Now Offering In-House Appraisal Services
An appraisal report is a key component of almost every home loan transaction. The appraisal is an inspection done by a professional appraiser which confirms the current market value of the home. Typically, a lender uses the services of one or more appraisal management company to obtain the appraisal report. Appraisal Management Companies (AMCs) are 3rd party contractors with no affiliation to the lender and are often contracted with multiple lenders at the same time.
Pacific Residential Mortgage is proud to announce that we now have an in-house appraisal team serving the states of Oregon and Washington.
What does this mean for our clients?
- These appraisers are actual employees of Pacific Residential Mortgage, meaning they are not under contract to work with several lenders at the same time. These appraisers can dedicate their attention to the clients of Pacific Residential Mortgage at all times.
Consistency, knowledge, and experience
- Many of these appraisers have worked with Pacific Residential Mortgage over the past several years, as contracted AMC employees. They’ve provided consistent results, and have extensive knowledge of the areas they are appraising. With years of experience, you can trust these appraisers to deliver the best results.
Potential cost reduction via appraisal waivers
- Aside from our in-house appraisal services, some of our client’s transactions may qualify for an appraisal waiver, or Property Inspection Waiver (PIW). This would remove the appraisal requirement on the transaction, which could provide significant savings on your closing costs. PIWs are transaction-specific, and require the loan to be run through our Automated Underwriting System (AUS) before we will know if your specific transaction is eligible for a PIW or not.
Do you have questions about appraisals, PIWs, or what in-house appraisals mean to you specifically?
Contact us or fill out the form below to start the conversation!