Does anyone have an appraisal policy that they are willing to share that has incorporated the new Reg Z appraisal requirements effective 4/1/11?

Would also like to see if someone is willing to share.

I would like to see this if someone is willing to share, also.
Thank you!

Yeah, me too.

Is anyone out there using the Mercury Network for appraisal ordering? Just wonder how it works. Thanks

We do.

Compliance Rules, Can you tell me how the process works? Do you just pay them a flat fee for ordering and then pay the appraiser yourself? Or do you pay for the appraisal and the fee for their service directly to them and they pay the appraiser? How much is thier fee? Thanks

The way it works is you sign up and they basically do everything an AMC does without being an AMC. Its actually pretty slick and easy to use. They let you upload your approved appraiser list to an online cloud platform, where an admin only has acces to viewing and updating the list. When someone orders an appraisal it is completely "blind". They do monthly independent market analyses of appraiser rates (by city I think) across the nation. When you order, the platform tells you what is the market rate for the property. This allows you to negotiate with the appraiser. Once selected, the appraiser is charge $13.50. The only time the Bank pays is when you negotiate below market. Then the bank pays $13.50.

Right now we only use them for secondary market transactions, but I'm considering proposing we use for in-house consumer RE as well. I think the market analyses they do complies with the payment of customary and reasonable fees.