Appraiser Application

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Appraiser Agreement

All approved Appraisers and Appraisal Management Companies are required to submit a completed W9 tax form, which will be kept on file with @Home VMS. Appraisers and Appraisal Management Companies are solely responsible for meeting all tax requirements associated with performing work as an independent contractor.

Accepting Appraisal Orders
Appraisers and Appraisal Management Companies are required to update their turn times as necessary via the appraiser profile portal on the @Home VMS website. Appraisers and Appraisal Management Companeis will be notified by email or a phone call of appraisal order assignments. If you do not respond to the request within 24 hours, the order will be placed with the next available Appraiser and Appraisal Management Company. If you are unable to meet the quoted turn time, please notify @Home VMS immediately.

Appraisal Requirements
All appraisals prepared for @Home VMS must meet USPAP requirements and be AIR compliant. If you have any questions regarding AIR policies, please contact @Home VMS for information. Upon completion of an appraisal report, Appraisers and Appraisal Management Company are expected to respond to any questions or requests from the client\'s underwriting staff with two business days.

Undue Influence Notification
Appraisers and Appraisal Management Companies are required to notify @Home VMS immediately if any party to the transaction (agent, borrower, broker, lender, etc.) attempts to influence your valuation of a property. Additionally, @Home VMS should be the only point of contact for questions or issues that arise during or after the valuation process. @Home VMS will investigate all cases of undue influence and report confirmed cases to state and federal agencies. All appraisal reports must contain a statement that the Appraiser and Appraisal Management Company acted independently and without undue influence from any party that may benefit from the real estate property transaction. @Home VMS Appraiser Agreement V.4 1 01/2010

Cancellation Policy
If the order is cancelled prior to inspection, the order will be cancelled with the Appraiser and Appraisal Management Company and no fee will be paid. If the order is cancelled during or after inspection, the borrower will be charged 100% of the fee and the Appraiser and Appraisal Management Company will complete the report for submission to @Home VMS.

Value Reconsideration Policy
Upon completion of the appraisal report, if the client is in disagreement of the Appraiser and Appraisal Management Company\'s valuation, the client may request that the Appraiser and Appraisal Management Company address specific questions. The client will complete a value reconsideration form, which must identify specific facts for reconsideration such as unused comps or errors in the report. @Home VMS will serve as the conduit for all value reconsiderations. If anyone other than @Home VMS contacts you regarding value questions, please refer them back to @Home VMS. Once the form is completed, you are only required to respond to the specific comments made by the client and determine if the value reconsideration is prudent based upon the new information provided. If you determine that the original value is accurate, the client may pay for an appraisal review.

Appraiser Review
@Home VMS will perform quarterly reviews of all approved Appraisers and Appraisal Management Company to ensure accuracy, USPAP compliance and other professional responsibilities including: - Ability to meet turn times - Communication during the appraisal process - Responsiveness to requests for additional information after the appraisal is completed Appraisers and Appraisal Management Companies will be notified in writing if concerns arise and every opportunity will be made for response and correction of any issues. Appraisers and Appraisal Management Companies may be removed from the @Home VMS panel if the Appraiser and Appraisal Management Company is unresponsive or fails to make corrective actions. @Home VMS has a zero tolerance policy toward fraud. If fraud is identified in an appraisal report, the Appraiser and Appraisal Management Company will be immediately removed from the approved panel and the appropriate agencies will be notified.

Disclaimer
@Home VMS may amend this Agreement by addendum. Any such amendment shall become a part of this Agreement ten (10) days after notice thereof is given in writing.

Recitals
The Appraiser and Appraisal Management Company represents and warrants that he/she has received, read and understood the Agreement. The Appraiser and Appraisal Management Company also agrees to the attached schedule of fees payable upon completion of appraisal reports in accordance with the payment policy listed above. The Appraiser and Appraisal Management Company further acknowledges that this agreement grants the opportunity to work as an independent contractor for @Home VMS and not as an employee of @Home VMS or their clients. As an independent contractor, no agreement has been made guaranteeing any volume of business. The Appraiser and Appraisal Management Company is the supplier of the appraisal products and services delivered to @Home VMS and therefore indemnifies and holds @Home VMS and its clients harmless from any losses, claims, expenses or damages arising from negligence or willful misconduct or non-performance of an appraisal assignment prepared by the Appraiser and Appraisal Management Company for @Home VMS and its clients. The Appraiser and Appraisal Management Company also agrees that this contract may be terminated by either part upon written notice.


If you are in need of immediate assistance, please email service@homevms.com