With competition heating up, companies need every advantage. Believe it or not, that starts with coming up with the best name for your new company or a newer name for some existing companies. For example, A-1 Closing Services, a nationwide appraisal management company, has changed its name to MyAMC as part of a rebranding initiative that supports the company’s focus as a customer- and vendor-centric organization.
“The name A-1 Closing Services gave lenders the impression that we were a closing services company, not an AMC,” said Mills Landon, MyAMC’s managing director. “We are expanding our presence among mid-size lenders, and everything about our rebranding, from our new name to the focus of our business operations, supports that objective.”
MyAMC’s rebranding initiative includes the introduction of two new technologies: a mobile appraiser engagement technology and an auto appraiser assignment technology. The company’s mobile appraiser engagement technology, a mobile application available for iOS and Android devices, connects appraisers with MyAMC and enables them to receive, accept, and decline orders in a matter of minutes, thus cutting hours or even days off of appraisal turnaround times. MyAMC’s proprietaryappraiser assignment technology uses key performance indicators to automate the process of assigning an appraisal to an appraiser. An analytical technology, it adds one more layer of independence controls, ensures appraiser competency and suitability, and reinforces the company’s already robust platform of regulatory compliance controls.
All MyAMC appraisals will continue to be managed through ValuLink, the company’s proprietary appraisal management software. Both of the company’s recently introduced technologies are integrated into the platform. Together, the technologies further enable the company to provide its lending partners with the highest quality and compliant appraisals that also meet or exceed expectations for turn times.
“Lenders can’t afford appraisal delays or quality issues that cause them to miss critical closing dates,” said Landon. “In rebranding MyAMC, we have added process enhancements that specifically address our clients’ needs for quality and speed. What truly sets us apart, however, are the dedicated people who own and manage these processes.” MyAMC invests in USPAP trained CSR’s and QC reviewers, as well as staff appraisers with national market expertise. All of these resources share the common goal of optimizing the customer experience.
In addition to its new technologies and exceptional service team, MyAMC maintains the highest standards for developing and maintaining its appraiser panel. “We use a rigorous enrollment process to select the top appraisers across the country. We pay them well, we pay them on time, and we seek their feedback to continuously improve our processes,” added Landon.
“Everything about MyAMC was specifically designed to enhance the customer experience. Furthermore, we are well positioned to help customers assess, monitor, and manage third party risk”, added Landon. Lenders have a lot of things to worry about throughout the mortgage process. Appraisals shouldn’t be one of them. And with MyAMC, they won’t.”
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.