Did anyone else get a flier from these guys? They say their parent company Golden West Financial who merged with Wachovia and they are looking for new appraisers. I got an invite to go to Columbus for their mandatory orientation covering their lender requirements. They say the orientation is two hours long.

Brian - If they provide any meaningful "appraisal conditions" list at the meeting, I would like a copy of it.

John

I am not sure I am going. It is a long way to drive with no promise of future business or reasonable fees. The orientation is being held at a hotel. I am afraid when I get there they are going to try and sell me something. I would like to know if anyone else plans on going or is already approved with them.

I got the same flyer, but I have not yet recieved the confirmation email for the orientation. I think that, given the opportunity, I would go. They are looking for territory experts and prefer that you only list one county but will allow up to three counties in certain circumstances. The way he explained it is that they only want a small handfull of good appraisers for each county to minimize the hassles of adding and removing a bunch of appraisers.If it is legitimate, it could be a good thing for business.

Of course they only want fully licensed or certified appraisers and will not except any work completed by trainees. I have seen this before with other lenders and may be a sign of what's to come. I guess they are guided by the false sense of security that fully licensed or certified appraiser produce better appraisals.

I have decided to go. I did some checking and the merger is legit. My business is slow and if there is any chance of future business I can't pass it up. It would be nice to have more work in my home county as well.

We received one from the same company Wachovia/World Appraiser's Approved Meeting.

Our listed location was Courtyard Marriot/Dalton. We are in North Georgia.

The invitiation states the orientation is to cover our "Lender Requirements" and to "complete the sign up process"??
I wonder what their requirements are............

I am in the south metro so I guess that's why mine is in Columbus. I have called the contact to try and get some more information but I doubt I will hear anything from him before Monday. I am sure the guy is swamped with phone calls and emails about this. I assume the lender requirements are going to be standard things like no foreclosures or distressed sales, sales within six months, interior photos, etc. Guess I will find out for sure on Monday. Do you plan on attending Angela?

I'm on there approved list and didn't get an invitation, now Im jealous.

Wachovia is getting away from Greenlink. This is the real deal. They are going back to ordering appraisals off a perferred appraiser list and want to meet you personally to interview you for it. I think it is a good move by Wachovia as most all the other larger lenders/banks are still on the low fee/AVM/management merry go round. This is supposed to be full fee -no hand holding-no value pushing work. I am going.

I have done a few for them and they are GREAT! They are full fee and they care about what you see. If you see something wrong put it down, if you think the subject should have the roof inspected then put it down. They are GREAT.


Rusty

Rusty... Shhh!!!

I too am on their list, I have 3 counties (supposidly). And I did not get an invite either, I guess I've been shunned

Benjamin, it may not be a false sense of security that licensed or certified means better appraisals, but it does mean we are legally qualified to appraise different products. Why fill your approved list with appraisers not qualified to appraise $1M, etc.?

I will attend their meeting in Athens 3/8/07
Will report back if there isn't a report between now and then.

Angela,
When is the date for the orientation in Dalton?
Ondray Thomas

I got one too and am going to their orientation on Monday the 5th in Warner Robbins. As the guy said, they are moving away from AMC's and that is good news to me.

I received a request from World Savings/Home Loan Experts in January to become a WIC, Wachovia Independant Contractor, as Wachovia was merging with them. The request included forms to complete.

They then sent two seperate remote orientation files, one for Home Loan Experts and one for World Savings. The files included username and password and instructions on using their internet based system for ordering and returning completed assignments. These are very detailed instructions, 22 pages for World Savings and 11 pages for Home Loan Experts. Example of one of their requirements , Comparable Photos. Original comp photos are required. MLS photos or
images obtained through public records are NOT permitted.

They do pay full fees and their appraisal requirements are more than is required by USPAP or FNMA.

John , I will send you an e-mail with the requirements I received.

Kerry Moon

Wachovia bought World Savings. Anyont who is on the approved list for Wachovia can complte the paperwork, without going to the meeting, and be on their approved list. They are using Georgia as a test pilot program for new Fannie Mae plans. The meeting is to qualify additional appraisers for counties outside the 18 county metro area who are not already on the Wachovia/World Savings approved list.
The flyer info will add you to the list if you are already approved. Additioanal applicants will be added as people fall off he list.
Hope this helps...

They rock!

I love working for them- they want real appraisers doing real appraisal work. They are the type if you see something report it and there is no evil telephone call the next am. THEY WANT THE TRUTH!

They pay in seven days and they pay full fee!

They don't want crap work, they want real appraisers. They have seen the low fee stuff turned in and that's why some will not get the call.

Rusty

Dalton is 03/09

Dalton 3/9/07
4pm to 6 pm
Courtyard Marriott Dalton
785 College Drive, Dalton, GA
706-275-7215

When is the meeting in Columbus?

My understanding is that it is by invitation only. I had to RSVP to save myself a seat since seating is limited.

Monday, March 5th Columbus
Meeting 4:00 pm to 6:00 pm

I have been a WIC for quite some time in another state. Starting working for World Savings now Wachovia. You are required to do a real appraisal. They only want the truth with no sugar coating. They pay like clock work and the fee is not cut. Every appraisal you do is reviewed by one of their staff appraisers and any difference will be discussed with you directly. They are expanding in GA since the merger and it is really good work to have regardless of the market conditions.

Connie,

I will be at the Warner Robins meeting. Is this the Connie Cook from Butts Cty?? If so, we might could meet up and drive together?

Sandra

They have a really cool tool to put into your appraisals called the adverse factor summary for world savings.

They are a great client!

Rusty

Hey Sandra,

Sounds good. I'll shoot you an email regarding where we could meet up for the meeting on Monday.

Thanks,
Connie

Rusty, you seem over-zealous about these guys. What are you hiding?

Nothing- these guys just require real work. They want real appraisal work not some slap it on with a quick trip. They want real indepth analysis and real numbers.

Number hitters stay with the low fees. These guys are hard on the appraiser if you don't know what your doing. They understand and are great when working with other professionals. I like em!

Rusty

Since I have been on their list for about 3 months, I called them & told them I needed to go to an orientation. They got back with me in less then 10 minutes and set me up to go to Warner Robbins, so I can ride with Sandra & Connie

This orientation is the last step of approval from what they told me.

I had a message from them today inviting me to meet them in Valdosta. I was going to blow it off, but after hear you guys I think I may go.

I still haven't gotten my invitation , just another order

I would love an invitation then. Do they need Atlanta MSA guys? Someone hook me up!

I am in Florida and went to the orientation. No sales pitch. I am "on the list" however have recieved no work. And yes they are real, we have a Worl Savings down the street.

I know they invited some MSA guys since I received an invite as did 2 others I know.

I do MSA and received an invite

I'm going to the Columbus meeting this afternoon. Anyone know what to expect?

GO TO THE MEETING!

it last about an hour. They give you two booklets of their policys. They keep their loans in house so they want a "true" accounting of the property. They want loads of photo's. They pay in 7 days.

It sounds like appraising, the way it should be!

Company has been on their list and receiving work. They told us there was no need to go to their orientation because of this.

IS WACHOVIA MAKING A CLEAN BREAK FROM GREENLINK ? DON'T THEY OWN GREENLINK ? IS THERE ANY PREFFERENCE FOR THOSE WHO HAVE BEEN WORKING FOR GREENLINK FOR YEARS ? OR DO THEY THINK THAT WE'RE ALL INCOMPETENT CROOKS ?

Question for Paula and others that have attended: What did you think of there supplmental standard for new home construction? I attended the Athens meeting today and it sounds great with the exception that they want 1 new in s/d, and then either resales in s/d or resales out of subdivision.

I think the idea is great in theory due to the concessions some builders are offering but feel like there is a conflict with GREAB rules. I guess the way aroudn would be to include the other sales in the subject s/d, but they also want 1 active listing & 1 pendig sale.

I haven't put too much though into this yet, so other opinions are appreciated, but I don't think that them wanting it done that way is a "credible reason" under GREAB. Of course, I opned my big mouth at the meeting and the presenter looked at me like I was crazy. Then someone else in the audience mis-interpreted what I was asking! She though I was referring to the "recommendation of 2 in, 1 out".

I really hope she has read the new requirements, but I got the feeling that she missed it.

Whoops, sorry for the spelling error...cannot type tonight. I really wish we could go back in and edit our own post.

I have friends that have done work for them out in CA and have heard good reports on them. I went to the meeting in Waycross and was very impressed. I think all Wachovia first mortgages are going through World Savings and second mortgages are going through Greenlink. They pay a fair fee and expect good reports. I hope this is the way this business is going.

I haven't done a new construction for them yet, but it seems to me that it's their ball and by law they are given the latitude, and right, to require certain criteria to be met. As long as they do not conflict with USPAP, then I can live with that.

For the record, after you turn the report in and it is reviewed and accepted, you are notified that they are notifing the Accounting Department and your check should be in the mail within 3 days.

Since GA. Law supercedes USPAP, then this is a question that needs to be answered. I am about to leave for the one in Dalton and will see if I can ask the same question Michelle.

I just received a new construction order from them, I called and asked and you can use all 3 in the subdivision as long as 1 of them is a resale, or at least are built by competing builders. The same as the new law.

Just got back from the meeting. These guys are on top of their game. they are looking for work that would equal the "old" FHA. They want the truth and photos of problems-No Muss/No Fuss. Fees are solid and the only requirement is that you are professional and produce a quality product. Can't wait to get it cranked up. I hope Wachovia/World Savings beats the pants off the others on Wall Street and maybe appraisers will get more of their business and AVM's will deminish into sub-prime obilivion. They have stated that their experience has shown it to pay longterm dividends to use a professional VS a cpu. Properties are examined for marketability in todays market and trends that would lean towards a declining market.

Money Man, I was there. Where were you sitting?

I was in the back in a red and white striped shirt. Young guy-dark hair-early 30's.

I was the brunette in the back, greenish/blue sweater, black skirt.

Michelle, they did not really respond to the sales-in-the-development question. I rarely use resales when appraising new construction, especially in cookie-cutter type developments. I guess give them what they requested, and then include 2 more from the subject development as required by GA. Law.

ALE-Was it you that asked the question about the new const. comps by chance?

That was me

Hey, did anyone think to ask when we should expect to start seeing some orders?

I know they are still trying to get things into place but I wasn't sure if that meant next week, next month, year, never?

They said it would be about two weeks from the meeting that you would get your sign in name & password. After that it there are jobs in your area they will start sending them out. If there is more then one appraiser in your area they will rotate. And gradually weed out the undesirables.

Anyone gotten their sign in name & password yet. I have not and was just curious about the rest of you.

Still waiting as well.

Nope, not yet

Me neither

Waiting, it will be 2 weeks come this thursday; I believe they said to call your contact if you don't hear anything in 2 weeks.

The ladies in vendor procurement and appraisal management are swamped. I think the response was larger than ever anticipated. Coupled with a new portal system that is down about every night for updates and repairs... even as someone who is on their list, it's tough to get through.

They must be working towards it. I couldn't remember which EIN# was for the appraisal business, so I couldn't fill out the W9 that night. They emailed a request for W9 tonight, so I'm assuming it must be close.

I asked them what their projections are for our area (VLD). They said they planned to triple their current level! I asked if that meant from 3 to 9 or what. They had a good laugh but never answered with hard numbers.

I'm interested, but we don't have a lot of Wachovia banks in the area, so I'm not borrowing money on the future business.

How can you call your contact, if you don't have the name and number yet?

Had all my paperwork in for months - Nothing. Also, I just got another "letter" from another area.

Never asked or was solicited to be on their approved list. Just started getting orders from them. Like Rusty says, they are a great company to do business with. You need to read their instructions carefully as no two orders to date have been the same. Some requesting interior photos, some requesting four comparable sales, some requesting one competing listings or pending sales.

Best of all, they pay like clock work. 15 days.

Got my password & sign in a few minutes ago.

Me too.

Me three

Got my first request

Then maybe us that went to a meeting later in the week will have ours soon

I got a confirmation email that I was in the system but no user name or password.

They sent the sign in a few hours later.

I thought I should pipe in on this so those that have not received an email with password and/or orders know what is going on.

I am sure I am not alone, (Rick says that nearly 70% didn't notice a second page on "some" of the contracts at orintation. On page 2, it was required initials and estimated days from order received to submition.

Anyway, long story short and exposing myself to embarrassment, I neglected to initial page 2.

The good thing is, I actually recieved a call last Fri, the 23rd from Rick Mayfield regarding this. I faxed page 2 with the initials that day.

Yesterday, I emailed Rick Mayfield to see what was going on regarding the delay of page 2. I asked in my email, how far this may have set me back from being entered into the system and approved to start receiving orders? Below is his response. So, relax. I know I am now.

From Rick Mayfield:

Not at all.

The contracts are being processed in our Appraisal admin department now and won't be completed for another 1-2 weeks, so you are ok.


Rick Mayfield
National Loan Training
Appraisal Support

I checked the job listings in Charlotte, NC which is where the Wachovia headquarters is located. They are still looking for admin and mortgage professionals. They are still trying to get everything in place before amping up. Even if you get the login and password now, I don't think you should expect any significant amount of orders for the next month or so.

From what I understand they are also going to be looking for local review appraisers on staff. This may be a great opportunity for the experienced appraiser that would rather have a steady paycheck.

I just recieved a letter yesterday that ststes the fee will be 300 not 350 as explained at the meeting. We now have to re-submit the approval package with us signing off on the new lower fee. It is still a good deal and the letter said we should start seeing some orders in the next few weeks. Good day all.

Does anyone know who to contact, or is this by invitation only?

I got the same letter Money Man. I faxed the amended contract back.

http://www.mysanantonio.com/business/stories/MYSA033007.03E.worldsavings.2c86177.html

Any World Savings contact names?

Anna,
This was by invitation only and as I understand it they were overwhelmed by the response they got. I'm not quite sure how they chose who to invite though.

Anna,
Check your email. I have tried two times to email you and they keep comming back to me.
If you don't get something from me, call me

I do not know if I am going to sign up again. $350 was a fair fee for the work $300 is not fair for the work in my rural area. I feel like bait and switch has been pulled on me. I think thye got a big responce and felt they could have GA appraisers cheap just like Greenlink. ( My Greenlink fees were better)

I received my "new contract" in the mail as well today at the lower fee of $300. In addition, they now want initials that appraisals will be received within 24 hours after inspection.

I am not happy with the way they have handled this. Maybe it is that they feel they get us for less because so many responded to the invitation.

I was approved by them prior to the recruiting effort and have been averaging over one a week and have never seen anything about a 24 hr turn time. In fact every order I receive has a due date of at least 7 calender days in the future. I have never taken that long but would not be afraid to if the circumstances warranted it.

I also got my "new contract" in the mail, with the reduced fee and the 1 day from inspection turn time. I believe the initial contract stated 3 days which is doable. I was excited about the opportunity to work with them after Rusty's comments but now this feels like a "bait & switch" and I had hoped they really wanted a credible product in a reasonable amount of time for an appropriate fee. I guess I'll just keep doing reviews! No way I can do a credible job in my rural market areas in 1 day! The fee is not an issue for me in Athens, but I use a tiered fee for different counties and am not willing to cut my fees in the rural market areas.

I left a message for Rick Mayfield asking to discuss this and hope to hear from him soon!

PS - Anna- there is definitely a problem with your email....my response with the info you asked for also came back. I don't mind sharing with you, but did not want to put it out to the public here.

I read through their info and loved the adverse condition summary, etc. I hope they get all this resolved because I am really looking forward to working with someone who appreciates a "rea1" appraisal!

Michelle D,

I inquired as well with Rick Mayfield today.

I did however move forward, faxed the "new contact" with my sig and initials. I did that because I have two AMC's that I only deal with that pay $275 and $300 for SFR.

So, I guess they are on the same level of an AMC, high end AMC, of course. It's all relative.

If I get a complex appraisal request from Wachovia/World Savings, meaning not in a S/D and has acreage, etc. and may take over 24 hours to complete, I don't have a problem with requesting a higher fee and a 48 hour completion date.

If they don't like it, they can get an another appraiser in my coverage area to do it for $300. So be it. They have covered their bases.

Michelle, sign, initial and fax the new one. You don't have a thing to loose. That is the way I am looking at it.

Connie.

I am at my daughter's home this evening sitting for my
granddaughter.

I received your telephone message and I want to thank you so much for calling me. Paula called me earlier today and got me on my cell. I was with the little one after that call and missed yours, I'm so sorry.

Thank you for your help and concern. Paula gave me the details and the phone number. After reading the posts on this thread, maybe I'll wait awhile since it looks like I should.

I was going to return the call, but it got so late that I thought it may be just a little too late.

Thanks doll.

Anna

Anna,
Your email is still not working

Try rickrichardson@comcast.net

It should work now.

I got my bait and switch letter from them. Its already in the shredder. I thought they sounded a little too slick during the presentation. Better to learn they are not worth the trouble now than after delivering an appraisal.

Has anyone received any orders yet? I was kinda hoping that the process wouldn't take this long.

Got 3, one was cancelled.

They pay fast. No bait & switch letter yet.

I am waiting on my bait-n-switch letter.

My contact at Wachovia said the appraisal ordering was supposed to have begun 2 weeks ago. I have yet to recieve any orders? Wondering if only the previous approved World appriasers are getting the biz?????

I just faxed in the revised contract. The pay is a little low, but I'd rather be paid a little less with no hassle than a whole lot with a lot of hassle.

After some careful consideration I decided not to sign the new contract. I am in rural area and with the additional info required like one active listing and all the special stuff they want it is not worth it for me. I would be more profitable get other normal business that is easyer and less time consuming to do than to put up with the hassles. I am kind of disapointed but I am as busy as I want to be with my favorite customers that give me good fees. I would rather give them first priority.

Anyone from the Athens seminar receive a login or any orders yet??

We were told that the start-up is taking longer than anticipated, such as getting processors and reviewers in place, etc.

I did two this week, hearing a slow take off as well.

Has anyone from the Dalton meeting recieved any response / assignments?

I haven't gotten any orders since I received my log in information which was on April 9th.

Is this the only game in Town?LMAO

I was in Dalton, but haven't received my log-in info. Was it sent via snail mail? We moved our office and there seems to be a week lag tim.

Angela,
It was sent email. They sent two different emails.

I was in the Dalton meeting as well. Still no orders yet and recieved the log in info about 2 weeks ago. I am wondering if the World Approved appraisers are getting rich by having all the work. My Wachovia contact said THEY bought World and THEIR appraisers should be getting work.....none seem to be getting any though. I work the Metro area so I don't know about rural GA.

Money Man, could you forward me the information from the log e-mail (not the private info though). Thanks aevans@prea.biz

Did the e-mail come after you signed the revised contract? If so, that may be my problem, since I didn't receive my revised copy until Monday or Tuesday because of the move.

I haven't recieved a revised contract. So I can't answer that

Yes...It did come after the revised contract was sent in.....MM

I have already sent in the revised contract, but recieved an e-mail requesting I fill out all the paperwork again. Trying to decide now if it is worth my time.

They are sending me orders and I have not signed anything...

JT, were you already on their list? If so, then you didn't need to do anything.

I don't think so,,I have never lable Wachovia as a client...that is until now...

I was contacted yesterday for my county coverage list. I don't know what is so slow about the ordering process. The only one for Wachovia I have done in 2-1/2 months came from corporate in Wilmington, NC. Maybe times are tight ans biz is slow all over....It's flowing like molasses in winter round' here.

Got the first order today. "CARTERSVILLE" Note-The adverse condtions page is not required for Wachovia's Fannie sellable loans but is only required on the "portfolio loans". The market conditions/absorption rate is required to be written out in your addenda. I will try to let you guys know how much UW beef I get on this one. It is a basic appraisal with longhand market comments on # of active listings, # of DOM, Avg selling price, and # of homes sold.

Money man,
You will not have any problems. Spell out what you see and what the market is doing. And they will be happy. They let you know pretty quick that everything is good to go.

They are going to make it tough for folks to rubber stamp value. The report must have days on the market for the comps, FMLS/MLS #'s, market trend statistics and absorption rates, concessions, and original list prices. You cannot jive them with that much required info. I think this forces people to be better appraisers as most reviews I do don't even include 1/2 of that information. Maybe ....just maybe... this type of requested info will become customary and clean up the reports that go into the secondary market. But alas, it may be just another pipe dream.

I still haven't gotten my first order. I'm going to call them and ask them for gas money to come to their stupid meeting.

Sounds like they are requiring alot of the same info that relo companies expect. Evidently, all of my paperwork was lost. It was resent, but they lost something again.

I am on the approved list for Wachovia and Greenlink. What is the # or email for world savings.

Thanks

They don't seem to get the concept of new construction and subject-to completion. They keep requesting "As Is" values and don't understand why "As Is" should be less than "Subject To" on new construction which is 90 or 95% complete. They then look at the items left to complete and try to tell you that certain items are cosmetic and shouldn't count against them. And they don't just go away when you explain it to them. They have someother dumbass call you to harass you and play dumb all over again. This has happened on at least 3 deals, so it's not isolated.

I have been getting regular orders and they seem to know what's up, I havent done a new construction for them yet though. They do ask for some extra stuff, but I am willing to do it for a strong client who wants REAL values.

Money Man, some of those may be client requirements, I have been asked for listings/pendings and absoption, but not all those other things,not that there is anything wrong with that...

With the required info, hopefully, it will force those appraisers that don't normally research that info take a real look at what is happening in the market. Those of us that do, know that not all of the markets in the metro area had significant appreciation between 2005 & 2006 and we know that absorption is exceeding 120 days.

True, I dont like working harder either, but if it means good values and the hacks weeded out, then I am all about it. And your right it might just force some folks to look at our market.

I like them. I did an appraisal for them a week or so ago, I explained the issues and instead of getting slammed I got a note from the reviewer that I explained the issues in a way that were easy to understand and that my visual aids were helpful.

It's kind of nice to not get slammed for doing your job correctly.

They must consider me a hack, because I haven't heard from them one time.

Oh, well.

I have finished updating my resume. I am looking for a job.

Can you believe it?! At my age.


Anna

Just had a tough one for them and it was nice to discuss it with an appraiser as oppsed to an UW or $8/hr phone girl.