Download Scoring Guide

SCORING OVERVIEW

In order to ensure that our clients are receiving the best appraisal services possible, NVS utilizes an automatic scoring system to grade all appraisal files. The system reviews status updates, logged communications, tasks performed in the life of a file, and Quality Control evaluation to determine the final score.

The system cannot account for delays caused by borrowers, lenders, county assessors, condo questionnaires, purchase agreements, etc. Such issues may result in score deductions; therefore it is vital for appraisers to maintain proper communication with NVS so that such delays do not affect the order scorecard.

Scores may be adjusted when appropriate. To inquire about possible score adjustments please contact Vendor Management at vm@nationsvs.com and include the file number in question.

APPRAISER SCORECARD LOGIC

Appraiser Scorecards are comprised of two categories for each file: Policy Score and Quality Score. Both Policy and Quality each have 100 total points available to the appraiser. The score for each category is calculated on every order. The Overall Score for each file is calculated based on the following weighting:

  • 55% – Quality
  • 45% – Policy

QUALITY SCORING

Each file begins with a Quality Score of 100. Points are deducted from the Quality Score during the NVS Quality Control process when items and/or information required in the completed report is missing and the file is returned to the appraiser for corrections. Appraisers are advised to read the Engagement Letter in its entirety since lender requirements may be different. The quality point deductions are weighted based on severity. So, for example, a potential USPAP violation such as failure to include the Exposure Time would be weighted higher than an inconsistency with bathroom count. Examples of errors that can be easily avoided to prevent quality score deductions include:

•    Utilizing MLS photos for comparable sales
•    Not providing a meaningful reconciliation statement
•    Missing or incorrectly labeled photos
•    Failure to provide meaningful explanations of adjustments
•    Consistency mistakes between report/ sketch and photos
•    Missing or incorrect FHA language
•    Failing to explain a wide adjusted range of values
•    Inconsistent 1004MC

You are strongly advised to review your work carefully before uploading to the NVS site.  Please also remember that your report will also be reviewed by our Client that has access to numerous tools including Collateral Underwriter. If you are issued a revision (dispute) by a client reviewer or underwriter there will also be a point deduction if you were at fault. Examples of client revisions are:

•    Incorrect parcel number
•    USPAP violation in connection with the omission of analysis for a current listing or transfer in the last thirty six months
•    Collateral Underwriter SSR warnings including: failure to use consistent ratings; alternate sales; potential over-valuation
•    Unreliable or inaccurate reconciliation
•    Failure to address deferred maintenance, physical inadequacy or negative externalities

Please note that you will not be penalized for revisions beyond your control such as contract or title changes.  
The Quality Score on each file accounts for 55% of the Overall Score.

POLICY SCORING

Each file begins with a Policy Score of 100. Points are deducted from the Policy Score when tasks expected of the appraiser are not performed. Bonus points are added for updates performed within a certain time.

REQUIRED UPDATES

  1. Setting the Inspection:
  • 10 point bonus if inspection set within 24 calendar hours of order acceptance.
  •   5 point bonus if inspection set within 48 calendar hours of order acceptance.
  •   0 point deduction if inspection set within 5 calendar days of due date.
  • 10 point deduction if inspection is not set within 3 calendar days of due date.
  • 15 point deduction if inspection is not set by due date.
  • 20 point deduction if inspection is set past the due date.
  1. Confirming the Inspection:
  • 10 point bonus if inspection is confirmed on NVS’s website within 4 hours of completion.
  •   0 point deduction if inspection is confirmed on NVS’s website within 24 hours of completion.
  • 10 point deduction if inspection is not confirmed within 48 hours of completion.
  1. Uploading Appraisal to NVS:
  • 20 point bonus if appraisal is uploaded same day as inspection.
  • 10 point bonus if appraisal is uploaded within 24 hours of inspection.
  •   0 point deduction if appraisal is uploaded within two calendar days of inspection by 5pm CST.
  • 10 point deduction if appraisal is uploaded within 0 – 24 hours after the due date.
  • 15 point deduction if appraisal is uploaded within 1 – 2 days after the due date.
  • 20 point deduction if appraisal is uploaded within 2 – 4 days after the due date.
  • Additional 5 point deduction each day until uploaded.
  1. NVS Quality Control Revision Requests and Underwriter Disputes:
  •   5 point deduction if report requiring QC corrections are not uploaded within 12 hours of revisions being issued.
  • 10 point deduction if disputed report is not uploaded within 24 hours of the dispute being issued.

UPDATING FILES WITH THE NVS DAILY STATUS EMAIL

The NVS Daily Status Email lists all active files assigned to an appraiser and indicates the next milestone/status update to meet in the life of the order.

A separate Daily Status Email is sent for each appraiser on the roster. All are sent to the appraisal vendor’s primary email address.

The Task column indicates the next status update that is required. The Due column indicates the date that the status update is required. Failure to perform the status update by the date listed in the Due column can result in a score deduction.

See below for an example of the Daily Status Email. Two files are due to be uploaded today; one file requires the inspection to be set; two more require confirmation of the inspection.

SETTING THE INSPECTION

Once the file is assigned to an appraiser, the first task to complete is Set Inspection – the scheduling of the appraisal inspection appointment.

On all orders, appraisers should attempt to contact the point of access within 24 hours of file assignment.

In the Daily Status Email, click on the appropriate file number.

-If you were able to reach the Point of Contact and schedule the inspection, click “Yes” and enter the scheduled time and date.

-If you were unable to reach the Point of Contact or schedule the inspection, click “No” and enter notes indicating why – left a voicemail, no answer, etc.

-Continue to reach out to the Point of Contact every 24 hours to schedule the inspection, and update the website once a time and date has been determined.

-If the POC is unreachable, please inform NVS either through the website or by calling 1-800-584-2139, option 1.

-For assistance, use the “Ask Question” button.

-For escalated issues, call 1-800-584-2139 and select option 1. 

CONFIRMING THE INSPECTION

Once the inspection has been scheduled, the next task to complete is Confirm Inspection. This informs NVS and our clients that the appraisal inspection was performed at the scheduled time.

To avoid point deduction the inspection must be confirmed within 24 hours of the scheduled time. For example; if the inspection was scheduled for 3/23/2017 2pm CST, the confirmation must be performed by 3/24/2017 2pm CST.

In the Daily Status Email, click on the appropriate file number.

-If the property inspection was performed as scheduled, click “Yes.”

-If the inspection was not performed as scheduled, click “No” and indicate why.

-If the inspection was not performed as scheduled, attempt to reschedule and inform NVS of the new appointment time either through the web portal or by calling 1-800-584-2139, and selecting option 1.

UPLOADING THE APPRAISAL REPORT

After the inspection has been confirmed, the next task required is Upload Report.

To avoid point deduction the file must be uploaded by 5pm CST two calendar days after the scheduled inspection, or on the agreed upon due date.

Due to complexity and availability of information, some appraisal reports may require a Due Date extension. To request this extension, please call 1-800-584-2139 and choose option 1.

In the Daily Status Email, click on the appropriate file number.

-If the appraisal report is complete and ready to be uploaded, click “Yes” to begin the process to upload the finished report.

-If the appraisal report is not ready, click “No” and indicate why.

-For assistance, use the “Ask Question” button.

-For escalated issues, please call 1-800-584-2139 and choose option 1. 

NVS Quality Control Revision Requests and Underwriter Disputes

  • 5 point deduction if report requiring QC corrections are not uploaded within 12 hours of revisions being issued. Further 5 point deduction after every consecutive 12 hour time period.
  • 10 point deduction if disputed report is not uploaded within 24 hours of the dispute being issued. Further 10 point deduction after every consecutive 24 hour time period.

 

UPLOAD REVISIONS

In the Daily Status Email, click on the appropriate file number.

-If the revised appraisal report is complete, click “Yes” to upload the report.

-If the revised report is not complete, click “No” and indicate why.

-For assistance, use the “Ask Question” button.

-For escalated issues, please call 1-800-584-2139 and select option 1. 

USING THE NVS VENDOR WEBSITE FOR UPDATES

Updates and tasks are not required to be completed through the Daily Status Emails. All tasks may be performed in the NVS Vendor Website.

https://www2.nationsvs.com/Account/LogOn?ReturnUrl=%2f

-Log in with your username and password.

-For username/password reset please contact Vendor Management at vm@nationsvs.com or 1-800-584-2139 option 2.

-After logging in, all files assigned to the appraiser are visible. The next required task is listed in the Action column, with the deadline found in the Action Due column. The due date for the complete appraisal report is found under Appraisal Due.

-To complete a status update click the appropriate link found in the Action column. For questions, notes, or assistance, use the links under Feedback.