Landmark Network, Inc. Announces the PayView™ Report: Providing Greater Transparency Into Vendor Payment Practice.

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Vendor payment tracking for the appraisal is a major area of concern and liability for all lenders. Per Dodd-Frank, the lender is ultimately responsible for ensuring that all vendors are paid for work completed, but if you work with an AMC, how can you be sure that this is taking place and being completed in a timely fashion?

In an effort to set them apart as a leader in the valuation space and to continue to provide its clients with the highest level of service and security, Landmark Network, Inc. announces the launch of the PayView™ report.    

With the recent increase in the unfortunate failure of mid to large sized regional and national AMCs and the subsequent lack of payment to appraiser vendors, Landmark Network, Inc. saw an opportunity to help increase the trust and faith of their clients by providing transparency into their vendor payment practices. The PayView™ report provides the lender with just that transparency and an added layer of security that appraisers are being paid for their work in a timely fashion with the funds allocated by them. “We want to help mitigate the risk of lenders when they utilize our services. We will ensure that they are able to see and document our payment practices so they know that they have paid us and we have then paid the appraiser.” said Hunter Gorog, President and COO of Landmark Network, Inc.

The report is designed to provide the client with a list of all appraisal orders completed in any given month with detailed information about those orders, the payment amount received by/due to Landmark Network and the amount and check number paid to the appraiser. Erik Richard, CEO said, “We’ve already implemented this monthly report providing our lenders a sense of greater security and confidence that work has been paid for. This sets us apart from our competitors in that we are actively engaged in lowering risk for our clients.” Landmark Network, Inc. is a fully licensed and compliant AMC and in accordance with individual state regulations pays the appraiser for work completed, regardless of whether or not payment has been secured from the client.

About Landmark Network:
Landmark Network is a Los Angeles-based appraisal management company that offers a wide range of national valuation solutions. With branch offices in Boston and New Jersey and an east coast operations center in Maine, Landmark stands apart by paying premium rates and selecting appraisers based on the specifics of each assignment. Landmark is the largest provider of appraisal services for the reverse mortgage industry and was awarded Best Appraisal Management Company in 2011 and 2012 by Reverse Mortgage Daily and ranked 108th on Inc. Magazine’s Fastest Growing Companies list in 2012. Landmark’s alternative valuations division provides an array of valuation tools including the patent pending TriMerge BPO™ report. In 2011, the company launched Landmark QCS, a compliance and post-closing audit service for mortgage lenders. For more information visit landmarknetwork.com.

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