Process
The maximum amount of units on a property that UWM will be willing to lend on
What is 4 Units?
This is the new price of Property Completion Reports (PCRs)
What is $115?
The price of a 2-day rush and a 4-day rush
What is 15% and 35% of the base fee?
This is the number one thing we are supposed to avoid discussing with the appraisers and clients
What is Value?
When a client does or says something that compromises the integrity of the appraisal, especially the value, we send an email to leadership so they can review and alert this specific department
Who is the RISK Department?
The 4 things that require us to call out every time
What are Change in Due Dates, Change in Fees, Document Requests & Information Requests?
This is the amount of days Conventional and FHA reports are valid for before they need a Recertification of Value (2 answers)
What is 120 and 180 days?
The 3 fees that are taken out of the appraiser's payout when a report is uploaded and how much each one is
What is the Platform Fee($20), the QC & Review Fee ($34) and the Credit Card Processing Fee(2.9% of base fee + $0.30)?
We should never confirm or reveal this to the client even if they clearly already know
What is Who the Appraiser Is/The Appraiser's name?
This is the email we refer people to when they are inquiring about an appraisal being transferred in to UWM
What is appraisaldelivery@uwm.com?
This state does not require a COO. Because of this we cannot do CIR there because it needs a Residential Combination Inspector. Which is not an appraiser. Refer them to using a website to find and hire Res. Combo Inspector (RIC) to provide the needed documentation.
What is Texas?
This report type must be created manually by the UW and cannot be ordered through EASE
What is a Desk Review?
3 of the 7 factors that go into determining an appraiser's Scorecard score
What are On-time Delivery, Revision Percentage, On-time Revisions, ROV, Report Deficiency, Customer Experience and Status Updates?
This is the maximum number of comparable properties a broker can submit when requesting an ROV.
What is five?
This is the email we give to the borrower only when they have lost contact with their broker/loan officer and need to transfer an appraisal out
What is appraisaltransfers@uwm.com?
This report can be ordered to support the value of the first appraisal and must be ordered through Clear Capital
What is a Collateral Desktop Analysis (CDA)?
This is an appraisal that UWM does not do, however we have an alternative process that does not include value and will need a final no matter what
What is a Land Appraisal?
These would be the report types in which we would share the original appraisal report with the appraiser
What are Final Inspections, Appraisal Update and Recert & Desk Reviews?
The client must have this in order for an Appraisal Direct leader to be able to update the Assigned AMC in EDGE.
What is a condition stating that the loan is eligible for an ACE+ PDR or AUS findings showing eligibility for an appraisal waiver?
This team will place high-urgency revisions on appraisal orders after they have been Funded and/or Shipped. These revisions should never be removed and should not be communicated to the client or UW.
Who is Recourse & Remedy?
A drive by or exterior-only appraisal can only be done on this property type
What is a Single Family Home?
USDA does not loan on this property type unless very specific requirements are met
What is a Manufactured Home?
This would be a reason that an FHA Appraisal report that was completed recently would be "nullified" and is no longer valid, requiring the client to order a completely new appraisal
What is the FHA Case Number wasn't active at time of inspection/is dated after the effective date on the report?
These are the alphanumeric codes that get assigned to properties by the appraiser to identify the condition of the property
What is C1 - C6?
This team can be contacted for an optional desk review of an appraisal.
What is Valuation Analysis (email: ValuationAnalysis@uwm.com)?