The AN Advantage + is a joint venture between two of the best mortgage service providers in the country. Appraisal Nation and Credit Plus. This partnership allows Appraisal Nation to offer Mortgage Product typically not provided by traditional AMCs.
Appraisal Nation can now process and manage ancillary products that lenders presently pay overhead costs for. More importantly by adding certain product in with Appraisal Nation’s present services it eliminates the lender from ever paying the fall out costs of these products again.
Q: What products are available with the AN Advantage+?
A: With any appraisal product, you can add Flood Certifications, Tax Return Verifications, SS89’s, Undisclosed Debt Monitoring and Manual Verification of Employment
Q: Is this RESPA (Real Estate Settlement Protection Act) compliant?
A: Yes. Our absolute priority is protecting our clients. This product was reviewed by both companies real estate attorneys and is 100% RESPA compliant. The following is an excerpt directly from RESPA: … For purposes of the preceding sentence, the following shall not be considered a violation of clause (4)(B): (i) any arrangement that requires a buyer, borrower, or seller to pay for the services of an attorney, credit reporting agency, or real estate appraiser chosen by the lender to represent the lender’s
interest in a real estate transaction…
Q: Do certain products have to be ordered?
A: No. The lender can choose to add one or all of the product to the appraisal request.
Q: Who provides the Flood Certification and how will I receive it?
A: Flood Certifications are provided by LPS and are Life of Loan. Core Logic Flood Certifications can be provided ONLY if lender required. Floods are emailed in PDF format and or uploaded to Appraisal Nation’s secure site for 24 hour access.
Q: How is Tax Return Verification handles and who completes it?
A: A complete borrower signed 4506T is uploaded to Appraisal Nation’s site at the time of order request. The form is then submitted to the Internal Revenue Service (IRS) who processes the requests and sends back a two year income verification. This is uploaded to our site and can be emailed to the client as well.
Q: We currently charge the borrowers for most of these items. Where is the cost savings?
A: Lenders will never have to pay for the fall out of these products or the cost of employees to process these products.
Q: How can I get more information about this program?
For more information about the Appraisal Nation Advantage+ program, please contact your client account representative today!