VA RFI: Appraisal Management Services (AMS)

Notice ID: 36C10D24Q0317

The purpose of this Performance Work Statement (PWS) is to support the procurement of VA Automated Appraisal Management Services (AMS) to further enhance the appraisal review process, thereby improving the oversight functions of C&V. This will aid in the future of VA’s modernization objectives described at the Technology Knowledge Center – VA Home Loans.

C&V’s vision is to provide a phased approach to accomplish a fully integrated, seamless, and user- friendly solution encompassing the appraisal process from the initial request and assignment through the issuance of a VA guaranty. The contractor shall provide the C&V staff, lenders, and servicers in the United States (U.S.) with services that will improve standardization, risk management, timeliness, and performance, as well as the credibility and quality of valuation functions.

The contractor shall be able to accommodate an estimated 1,000,000 appraisals annually; however, VA anticipates average volume of approximately 750,000 annually. VA processes appraisals for Single Family Residential properties representing 91% of all appraisal assignments. Condominium assignments represent 7% while manufactured home appraisals represent 2% of total volume. Appraisals are completed on origination, cash out refinance, and liquidation transactions. Market conditions dictate actual volume.

The AMS process, in its current state, begins after the notification to the appraiser that an assignment has been made. The AMS system receives the appraisal report uploaded by the appraiser and provides a validation process to ensure that the report matches the assignment. The AMS then performs an electronic screening review function and scoring based on VA requirements and using data collected from VA appraisals and other sources. The AMS provides the data and results of the scoring and electronic screening review and collects the data from the appraisal reports for use by VA. Lastly, AMS will provide a desktop appraisal process using data from VA and other sources to develop a desktop valuation product.

An AMS contractor for future state with all modernization efforts in place will have a more active role. As appraisal orders are received from VA approved lenders to VA via an Application Programming Interface (API) interface. This request will then be sent to the AMS contractor. The contractor will receive, process and submit all data to VA on an API. Once the AMS contractor receives the appraisal order, they will assign the appraisal to a VA approved appraiser. The VA approved appraiser will log into a user interface (UI) that is designed and implemented by the contractor. All work, tracking of milestones and receiving of the appraisal will be done on the UI developed by the contractor …

The period of performance (POP) will be a twelve-month base period, plus four (4) twelve-month option periods to be exercised at the discretion of the Contract Officer.

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