Pittsburgh, PAMember since August 2016

Reviews (1)

    • Sep 10, 2016
    • Verified Reviewer

    Careless internal appraisal tactics

    Overall Experience:

    I worked in this company and saw first hand how the appraisal practice is completed. From the outside, it appears that they are an in-house review team and appraisers. While there are some, they have laid off 6 reviewers and at least 1 in-house appraiser. They now have only 5 reviewers in-house to review ALL appraisals for every loan. This includes Nationstar, all its sub-affiliates, and other large banking institutions.

    Well, it is possible when they lay off over half the staff and send the appraisals to India where they can pay people pennies to review YOUR appraisal. I have seen the work first hand and know they do not know how to review properly in accordance with USPAP, federal, state & local laws.

    Nationstar/Solutionstar/Xome do not care if your appraisal is wrong. Beware of using this company as home buyers may be getting a mortgage on a house not worth what the appraisal reflects. The reviewers are told to make sure the name, address, and lender is correct and send it out.

    You are dealing with people who don't understand the American real estate process. The appraisals are a mess and the appraisal panel is unaware that they are not being reviewed by USPAP compliant competent reviewers.

    India doesn't follow up with the appraisers or the clients as the company doesn't want anyone to know they are being reviewed overseas. That means reviewers in the US stop what they may or may not be doing (they don't do much these days). They may have to deal with private appraisers, re-review the report and correct the mistakes. But hey, they only paid pennies for the review. You get what you pay for.

    Bottom Line: No, I would not recommend this to a friend

    21 people found it helpful

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