Similar to our other types of providers, Keystone conducts due diligence on appraisal management companies (AMCs) based upon the accumulated rules and guidelines of our lenders. Keystone purposefully looks out for AMCs that are managed by experienced appraisers, comprising their pool of transaction managers, as well as lender relationship managers, who use historical data to rank and assign work to the most competent appraiser for the geographical area and property type.
To qualify as a certified AMC, KeyStone additionally requires dedicated teams of key management, compliance, and legal professionals that stay abreast of all compliance and regulatory guidelines, tracking the legislation pipeline in each jurisdiction and implementing regulatory or GSE requirements safely ahead of deadlines.
While the lender must have a direct vendor relationship with the AMC, KeyStone facilitates a low cost service to track orders and fulfillments, including provider scorecards, consolidated reporting and invoice reconciliation for the lender.
While the borrower and lender owns the direct broker relationship with insurance providers, KeyStone works to operate and with providers that specialize in rapidly researching reputable insurance carriers and their costs for the requested coverage within a given state.
Ultimately, this allows the customer the crucial opportunity to make an informed decision.