IAM AMC 24-Hour Fast Pay for Appraisers

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Incenter Appraisal Management to Pay Appraisers Within One dayLast week we received an email from an AMC PR company. The email stated that Incenter Appraisal Management (IAM) has implemented a new 24-hour fast pay model and is paying their appraisers within one day of completing the appraisal report. Has anyone heard of or done business with Incenter Appraisal Management? Do they pay C&R fees or do they blast orders to find fast and cheap appraisers? Do they have a scoring system, tech upload fees, background check fees, etc.? The email stated they do not bid or charge tech fees. Back in November, VaCAP published their email solicitation where they indicated they pay appraisers within 7 business days and were offering a few “perks”.

Incenter Appraisal Management (IAM) Launches 24-Hour Fast Pay for Appraisers Fastest-Payer Status Advances Objective of Building The Strongest Appraiser Network for Lenders

CHARLOTTE, N.C. — February 11, 2021 — To move closer to its goal of building the nation’s top appraiser network, Incenter Appraisal Management (IAM) has implemented a new 24-hour fast pay model, the most rapid in the industry.

“Our network of best-of-breed appraisers sets IAM apart as an appraisal management company,” said Mark Walser, President. “Paying our appraisers ASAP gives them one more compelling reason to put IAM and our lenders’ orders to the head of the line.”

Within one day of completing a valuation report, IAM appraisers are now receiving direct ACH payment for their services, bucking the national trend of compensating these professionals 15 to 45 days later. Many appraisers are performing so many valuations per week that ensuring payment has become time-intensive and challenging. Incenter’s new initiative mitigates this issue on behalf of appraisers throughout the country.

“Appraisers are so busy right now that we’re struggling to keep up with managing and chasing payments,” stated Ross Desmerjian, an independent, certified real estate appraiser based in Palos Verdes Peninsula, California. “I know of a number of appraisers, including myself, who’ve resorted to engaging factors whose fees are around 5% of invoice. IAM’s 24-hour pay model solves this huge challenge. Plus, it’s just smart business. By paying appraisers fast, they encourage us to make their orders a priority.

The new, 24-hour pay model is the latest in a series of initiatives that demonstrate IAM’s commitment to appraisers’ success. These include empowering them through proactive communications, technology tools, and process improvements. For example, IAM never puts appraisals out for a pricing bid; never charges appraisers for a “technology” or report upload fee; and provides all the information necessary to deliver high quality reports the first time.

“Appraisers have done an amazing job under the duress of COVID-19 and incredible levels of volume. AMCs ask so much of appraisers all the time, and this is one more way we can show our appreciation and give them peace of mind,” said Mr. Walser.

About Incenter Appraisal Managementincenteram.com.

About Incenter LLC
Incenter ideates and deploys innovative solutions for optimizing business performance in the mortgage and specialty finance industries. The company is based in Fort Washington, Pennsylvania and employs over 1,600 professionals across its sub-brands. For more information, please visit www.incenterms.com.

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29 Responses

  1. Avatar Carl says:

    Never heard of them but their linkedin says they’re owned by Blackstone.

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    • Avatar Lisa Director of Vendor Management says:

      Hello Carl, My name is Lisa, I am director of Vendor Management for Incenter. I hope you are well. We are a growing AMC and would love to have you on our panel of appraisers, if you are interested. We were acquired by a blackstone portfolio of companies. So technically we are a company of a company of a company owned by Blackstone, if that makes sense. Hopefully it’s reassuring to know that financial resources are strong in our family of companies and provides a high level of surety for you that we pay our bills and have liquidity and financial strength no matter the condition of the markets. Please feel free to contact me if you have any questions.

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  2. Avatar Koma says:

    Have not heard of them. I do not work at a bank, but I believe any moneys deposited into an account by an ACH payment can also be taken back by the same process from that depositor. My clients who are Lenders send out a check and I receive it with 7 days from order completion. Guess I’m old school.

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    • Avatar Lisa Director of Vendor Management says:

      Hi Koma, My name is Lisa, I am director of Vendor Management for Incenter. I hope you are well. I too am an appraiser and understand your apprehension on payment. I know I had to chase AMC’s in the past and think the 24 hour pay into my bank account would outweigh the concerns I have about direct deposit. Paper checks are available if you don’t like the ACH payment option. Payment for a paper check option are paid within 7 days of completion of the report. Please feel free to contact me if you have any questions.

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  3. “best of breed” ???? I know we are seen by many as the mongrel cur dogs (no offense to these lovable creatures as I have rescued several over the years) of the Financing world, but to see it in print on a PR blast….should we line up at feeding time or just when the treat box shakes? Are pedigree papers required? Unfortunate choice of adjective to use as incentive to attract Professionals.

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  4. I can see nothing wrong with the stated policy. IF I were looking to do lending work appraisals this is the kind of company that would be at the top of my list to try out.

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    • Avatar Lisa Director of Vendor Management says:

      Hi Mike, My name is Lisa I am director of Vendor Management for Incenter, Thank you for the positive feedback! We are pretty proud of the 24 hour pay and also the perks we offer to appraisers who complete 5 appraisals in 6 months for us. If you ever decide to do lending work again, we would love to have you on our panel! Please feel fee to contact me if you have any questions. Thank you.

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      • Thank you, but it’s doubtful I’ll ever get involved in transactional lending appraisal work again.

        AT least not while it is considered acceptable practice for banks to fix prices in advance, & then tell consumers (borrowers) that the appraisal fee is not one of the closing cost items that they have any ability to shop for.
        (Thinking specifically of “Mr. Cooper” a well-known subsidiary or affiliate of Amrock that was silly enough to mail me the disclosure paperwork for a loan they were trying to hustle my 90-year-old mother into).

        There’s just too much good appraisal work out there to be dependent on the FNMA Money Pump lenders.

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  5. Avatar Virgil R Gleason says:

    When I started in the 80’s we picked up a check at the door before we started measuring or taking photos.

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    • Avatar Lisa Director of Vendor Management says:

      Hi Virgil! My name is Lisa I am director of Vendor Management for Incenter Appraisal Management. I am also an appraiser and remember the good ol’ days too. I remember getting paper checks or sometimes cash at the door. This practice is no longer legal .https://www.fdic.gov/news/financial-institution-letters/2005/fil2005a.html

      The benefit of the 24 hour pay into your bank account is you don’t have to worry about bounced checks. I understand on the appraisers end that there is always apprehension, paper checks or ACH deposit alike. If you would like to sign up but are apprehensive I can provide some appraiser references for assurance. Please reach out if you have any questions. Thank you

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    • Same here. Today on C&I work I don’t even drive the comparables until I deposit the check I pick up at inspection (if no already in hand via mail before the appointment). On larger fee jobs a non-refundable retainer is collected that is equal to at least 1/2 the estimated or quoted fee.

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  6. Avatar John M Pratt says:

    Before appraisers jump into bed with any AMC because of a sweet sales pitch, they should probably do a little checking out of the company. This AMC has only been licensed in Calif for a little over 1 1/2 years. I have been here for over 20 years and have never had a request from them. Since one of the items that all appraiser will have to provide them at the time of sign up to get their 24 hour payments is your “Checking info” you might want to know a little more about them. Will they provide a “Surety Bond” in favor of the appraisers in a sufficient amount to protect the appraisers. Like Koma posted, if they can deposit into the appraiser account, they can also withdraw from that account. Stay safe out there.

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    • Avatar Lisa Director of Vendor Management says:

      HI John, My name is Lisa I am director of Vendor Management at Incenter Appraisal Management and also an appraiser. We are duly licensed, and perform hundreds of appraisals a month in California. We haven’t had the pleasure of doing business with you, but would like to. Please send us your fee schedules and we’ll get you setup. “I understand on the appraisers end that there is always apprehension, paper checks or ACH deposit alike. If you would like to sign up but are apprehensive I can provide some appraiser references for assurance. Please reach out if you have any questions. Thank you

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    • Avatar Lisa Director of Vendor Management says:

      Hello Julio, My Name is Lisa, Director of Vendor Management. Yes, Incenter acquired an AMC a few years back. And that AMC no longer exists, it’s all Incenter now. Incenter brought it to national status, and thanks to the financial capabilities of Incenter, appraisers can get paid in 24 hours. The AMC referenced trolling for lower fees is Amrock in this post, not Incenter, however the perks mentioned in the previous post are real, and we have hundreds of appraisers who utilize them and they are free of charge for appraisers who complete 5 or more appraisals in a six months for us, and are completely voluntary. If you don’t want them, you can still do appraisals for us and get paid quickly.

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  7. Avatar Keith McGregor says:

    I am certified in NJ. PA and FL and i have been working with Incenter for several years! I love the new ACH payment option and it seems to be working great!

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    • Avatar Lisa Director of Vendor Management says:

      Thank you Keith, I am so glad you are happy with the 24 hour pay! We are really happy we are able to provide our vendors with this service!

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  8. Avatar Steve Pacera says:

    I have been a real estate appraiser full time since 1984. I have worked for several AMC’s since 2010 when they were implemented. I’ve worked for Incenter and there previous company MAS since 2010. I can say not all AMC’s are alike. The vast majority treat me very much like a number. I currently do work for five AMC ‘s and Incenter is by far my favorite company due to the outstanding staff in particular Lisa Ratzke, who I can call almost any time including weekends and i always have a answer or get resolved any issues I might be having. I can’t say enough good things about the Company and staff. The quick 24 hrs payment is fantastic as many self employed people know, sometimes waiting long periods of time for payment can be difficult with month to month bills.

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    • Avatar Lisa Director of Vendor Management says:

      Thank you for your kind words Steve, we really do appreciate you and all you do for us! I am glad you are happy with the 24 hour pay and our service to our appraiser partners!

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  9. Avatar James McKissick says:

    Incenter Appraisal Management is the finest of all AMC’s. They build relationship’s, you’re not just another appraiser. They are loyal and treat you with dignity unlike many AMC’s I worked for over the years. The new ACH payment option is another reason I love doing business with Incenter Appraisal Management. They’re a 5-star AMC!

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    • Avatar Lisa Director of Vendor Management says:

      Thank you for the kind words Jim! We are so appreciative for the positive feedback and we really do appreciate all of our vendors and I am glad to see that you feel that in your experience with us! Thanks for all you do!

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  10. Avatar Shawn Prince says:

    I’m a jersey appraiser. I don’t do majority amc work. I rather focus on small banks and do not work for the big 4. I choose to work for the clients which actually pay proper and treat proper. I see alot of repetitive email origination from same authors on this site. Which i respect. Lisa directer of Vendor Management is trying to be friend. No reason to stop her from doing that.

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    • Avatar Lisa Director of Vendor Management says:

      Thank you Shawn, if you ever decide to try working for an AMC who values their appraisers, please let me know and we would be happy to get you registered!

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    • Avatar Lisa Director of Vendor Management says:

      Yes, that is not a surprise or fake news. I did answer some other questions on this issue in previous comments. If you have any other questions, please reach out and I would be happy to answer them. Thank you.

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  11. Avatar Ralph says:

    That’s great they pay the next day, that’s very important, for me I prioritize fee and least amount of headache clients, which is why I’m non AMC my clients are direct lenders and pay within 3-14 days on average and none of this silly, report must be back within 48 hours, borrower must be contacted within 24 hrs and revisions are required back in 4 hours, to me clients that treat us like adults are the true “A” clients!

    0

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IAM AMC 24-Hour Fast Pay for Appraisers

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