AAA AMC is a National AMC. We provide valuation services to a variety of clients across the Country. Our clients are primarily mortgage industry based. The majority of that work is origination based for Banks, Credit Unions, and Mortgage companies. But, we also have clients in mortgage servicing industry that we provide REO valuations for. AAA AMC also has some insurance industry clients that we provide disaster recovery service for. We've managed the appraisal process for them in some of the largest wildfire events in history over the past few years. In doing so we managed literally thousands and thousands of post loss retrospective appraisal assignments.
Before entering the appraisal field I was a banker. I began as a delinquent account collector, transitioned into customer service opening checking and savings accounts, then into consumer lending.
Once on the lending side, I need appraisal services to provide me the value of properties that we were lending on. I'd pick the appraiser, place the order, review the report, underwrite and process the loan, and then close it. That was a long time ago... Anyhow, the appraiser I was using would hand-deliver the reports to my office. He'd pull up in front of the branch in a Corvette dressed like he was headed to the Country Club, hand me an appraisal, wait for me to cut his check, say thanks and leave. After that play ran a few times I began to think that being an appraiser seemed a whole bunch more fun than opening checking accounts. So, I took my real estate classes, passed the tests, and got licensed. Back then being an appraiser only required a real estate sales license. Yes, I'm that old...
Not surprising, but today's challenges as the Chief Appraiser of a National AMC are very much the same as they were in my prior positions as the Chief Appraiser for a top 5 lender and an independent fee appraiser with my own shop. Turn time, quality of the product, customer service, competitive pricing, regulatory compliance, etc. Now mix in a pandemic and the industry changes and challenges associated with that and one can see that there is always something that requires attention.
I won an Oscar in 1990. I've had the opportunity to speak at various industry conferences including AARO, Appraisal Institute, and Valuation Expo. I've been a member of the Collateral Risk Network since 2007. During that time CRN has provided guidance on the valuation industry to a variety of parties from Andrew Cuomo's team developing HVCC to the GSEs reacting to urgent changes required due to Covid-19. In 2011 an article I wrote on appraiser fee panel management was published in LiveValuaiton magazine. As a Chief Appraiser for the past 15 years, I've been blessed to work with appraisers and industry leaders to move the appraisal profession forward. Still, wondering about that Oscar aren't you? OK, OK, I was a staff appraiser for Glendale Federal Savings and Loan back then. Their employee recognition awards were called Oscars and are replicas of those given in the film industry.
First of all, I'm an appraiser. I take my required continuing education classes in person and try to attend a few appraisal conferences each year. That gives me an opportunity to meet other appraisers. In doing so I've had appraisers approach me to say thank you for helping them with a problem or giving them a 2nd chance. One appraiser that I was able to give a 2nd chance to is now the Chief Appraiser of one of the largest lenders in the Country.
AAA AMC maintains multiple valuation service platforms that we can integrate into our client's various operating systems. We also provide a cascade of Automated Valuation Models (AVMs) and have the ability to produce Interactive Valuation Models (IVMs) for our clients on a more granular level.
Having customers post positive reviews on our service is huge for us. We believe that our customer's peers see those positive reviews and choose to use our services because of them.
I don't believe we have a conscious effort to get positive reviews. We do, however, have a conscious effort to provide exceptional customer service and do the best we can with each case every day. That philosophy starts at the top of the house with the example Marlene presents and has been adopted by everyone else in the company.
Agility, personal service, and up-to-date technology. AAA AMC isn't a 'big' AMC as you can tell by the number of employees currently on board. We're what is referred to in the industry as a