Appraisal fees are costing you money. It's a major problem for lenders, like a funnel with multiple holes siphoning off your hard earned revenue. Driven by common misunderstandings and little guidance, appraisal fees can feel like pure guesswork. This lack of knowledge ultimately leads to unexpected and unknown costs - revenue leakage - that can quickly eat away at your margin.
If you have ever asked questions like: How much should a standard appraisal cost? How often will appraisals require a Change of Circumstance? How do I properly manage payments to vendors? How much should I disclose to the borrower? What should I do with the fee when a borrower walks away? How do I prevent errors and resulting revenue leakage? Join us to hear solutions for all of these questions that we'll work through in our upcoming workshop, "How to Stop Losing Money on Appraisal Fees."
With insight from the STRATMOR Group, we'll show you how to identify and stop the revenue lost from appraisal fees. In this interactive session lenders will walk away with a clearer picture of appraisal fees nationwide, how to manage those fees and a deeper understanding of how to ensure they're not losing revenue on deals.
Who should watch? Finance, strategy, innovation, digital and operational leaders from mortgage lenders of all sizes.
What we cover:
- How to manage your fee schedules
- How to manage disclosures to the borrower
- How to handle Change of Circumstance and fee escalations
- How to prevent losses when borrowers walk away
- How to reduce revenue leakage within your appraisal operation
- How to successfully managing fees across vendors and borrowers
