Appraisal management company (AMC) Appraisal MC recently launched Priority Panels, an appraisal service that allows mortgage lenders in key metropolitan areas to get appraisals in as little as two to five business days.
The service is designed to help mortgage lenders manage appraisals during the traditionally busy summer months, when appraisal turnaround times can grow to 13 days or more. To offer faster turnaround time, Appraisal MC set up Priority Panels of appraisers that have committed to a significantly faster turnaround time.
Customers have the choice to use the Priority Panels or continue to use Appraisal MC’s standard service for their orders. Standard orders will still receive Appraisal MC’s standard service, which last year was 25% faster, on average, in terms of turnaround time when compared with other AMCs and internally managed appraisal desks, the company claims.
“We know that there are times when lenders need their appraisals even faster,” says Mariella Massa, CEO of Appraisal MC, in a release. “So, we’re delighted to be able to provide that option for time-sensitive appraisals while still keeping our standard orders at the level of quality and timeliness our customers expect from Appraisal MC.”