FAQ For Appraisal Management Companies
1. Is TrakLogix an AMC?
TrakLogix is not an AMC. It is an appraisal management software; designed to help you manage your orders and streamline your business. It is designed for Appraisal Management Companies as a platform to organize and manage their business.
2. What does TrakLogix offer me?
TrakLogix offers appraisal companies a compliant and effective way to manage their business. With our platform, you become more organized – allowing faster turn times and more quality reports. Our marketing specialists are available for a free website consultation or web design packages to help more customers find you. Manage your orders, Accounting, and grow your business with a unique website – all through TrakLogix.
3. How does TrakLogix differ from other software platforms?
TrakLogix is designed to fit AMCs’ needs. With the safest platform around, you are able to easily navigate and manage their entire business anywhere they want. This allows you to maintain compliance while have faster turn times with higher quality reports. TrakLogix doesn’t stop there. TrakLogix offers you the marketing help to grow your business, gain more customers. Let your business grow, and stay organized with TrakLogix.
4. How secure is TrakLogix?
TrakLogix successfully completed a rigorous independent audit to be SSAE16 compliant. This means you can manage and track your Appraisals with complete confidence that your critical and sensitive data and infrastructure is on a platform which employs stringent internal business processes and IT controls. Offering you the safest software available. TrakLogix is the only Appraisal Management Company Software protected against breaks in the cloud.
5. Does TrakLogix use Map Integration?
Yes! TrakLogix has integrated maps right on the order. As soon as the order is entered, you can quickly view a standard road-view (as if you were in the driveway!), or zoom out for a quick overhead view of the area. You can track how far away your Appraisers are from their property inspections, and ensure that addresses are entered correctly easily and efficiently!
Billing & Invoice
1. Do I have to upload my own invoices?
TrakLogix has built in accounting to help you manage your business more effectively. Track and manage your orders, and be notified of bills and invoices. TrakLogix has invoices built in, that can be customized to your needs, that will send out for you.
2. In what formats can I export invoices?
TrakLogix’s platform can export your invoices and documents in a wide variety of formats including:
- Tiff Files
- even Web Archives
3. How do I send invoices?
When an order is completed, an invoice auto-populates on your customer or vendor’s platform. You also have the option of emailing their invoice.
4. Can I personalize fee schedules?
Yes! With TrakLogix – you can personalize the fee schedule right on the platform. You don’t need any additional customizations. Simply create a fee schedule based off your customers and products, and it will auto-populate on your order!
5. What if I need to add additional fees to an order?
As soon as you have entered the order, if you need to add additional fees to an order, you have the option to do so right on the order form. It will reflect on your invoices.
1. How do I add Appraisers into the system?
You can easily add your Appraisers right onto your platform, or Appraisers can register directly from your website. Adding Appraisers is simple with TrakLogix.
2. What are my options for assigning Appraisers?
With TrakLogix you can assign Appraisers directly on the order form in a multitude of ways including (but not limited to):
- Distance (necessary for Geographic Competence and Compliance)
- Number of current orders
- Performance, among others
- When you assign an Appraiser to an order, you can quickly see at a glance all the information you need to know in order to assign that order.
3. How do I track my Appraisers’ information?
TrakLogix does this for you! TrakLogix will notify you and your Appraisers when their registration, license, certification, insurance, W-9, etc is almost expired so that they can upload their new documents and stay up-to-date.
4. What if I have an Appraiser on a “Watch List”?
If you have an Appraiser that is not meeting your Company’s standards, you can put them on your Watch List. With TrakLogix, you can easily assign a vendor to Watch List, Trial Period, and another multitude of options. This allows you to keep up with Appraisers and track their performance.
5. How do I keep track of Vendor Performance?
TrakLogix will generate reports for you based off vendor performance. You can easily see the average turn around time for your Appraisers. Quickly generate and export a Vendor Scorecard or create a preferred Vendors list effectively and on your own!
Setting Up An Account
1. If I register with TrakLogix, when will I receive orders?
As soon as you sign with TrakLogix, we immediately begin setting up your account. Within 24 hours you have access to your platform, and any additional customization begin development immediately – allowing you to accept orders from your clients right away
2. Do I have to pay a fee to accept orders?
TrakLogix offers a multitude of payment options to fit your needs and your business size. Pay by the appraisal order, monthly, or annually. Contact Us to see which option best fits your company
3. How long does it take to set up an account?
After contacting TrakLogix (1-855-536-3549) – we can set up your platform within 24 hours, allowing you almost instant access. As soon as you sign with us, any customization you request go into development immediately.
4. How will I know how to work your platform?
Our qualified staff will walk you through an easy 10 minute tutorial – covering every question you have. We also offer customary User Guides and Webinars so you are equipped with all the tools you need to use TrakLogix.
1. Do you have a UAD compliance check? Do you deliver reports to UCDP?
Both! We have a UCDP delivery portal set up that delivers your report to the UCDP portal and provides feedback on any errors. This works in conjunction with our SmartChek module which checks for UCDP errors before it is ever sent.
2. How does TrakLogix keep me compliant?
TrakLogix keeps you compliant with State and Federal Regulation updates to help you do your due diligence. You even have a log of orders and all communication for state compliance. Keep yourself, and your clients, happy with your faster turn times and higher efficiency.
3. Talk to me about audit control?
TrakLogix creates a beginning to end audit trail the entire time you are on the platform. All of your relevant and important documents are securely stored in one centralized location, creating an easy access point if you were to encounter an audit. But that’s not where we stop. TrakLogix has enabled double-blind communication to ensure the Lender placing the order and the appraisers are never in direct communication, and only see what is appropriate for them. We also have everything on the platform time stamped with user identification – not only for audit control but to help you better manage your team. With TrakLogix, you always know what is happening. We have even set up measures to help appraisal management companies pay reasonable and customary fees. Now, national AMCs even have stronger capabilities of helping and maintaining their vendors.
4. Do I have to upload QC Checklists?
If you want. With TrakLogix you can either upload personalized QC Checklists, or you can create them right on the platform. Access your QC Checklists right on the order so you can make sure every order is meeting your conditions
5. Does TrakLogix offer extra compliance checks?
Yes! Our SmartChek module electronically reviews appraisals for errors and omissions prior to delivery. Comprehensive rule sets are easily customized to meet each client’s specific appraisal guidelines. SmartChek includes (but isn’t limited to):
- An accuracy and completeness score for each appraisal
- Rules checks for Completeness, Accuracy, Value, Property and Market
- UAD compliance and adverse item checks
- A report that highlights issues for review, allowing staff to request revisions
- A beginning to end audit trail that ensures due diligence
How do I receive orders?
You can receive your orders right on your platform! Be automatically notified and see your new orders right on your dashboard, as well as in your email so you never have to worry about missing valuable time!
What Important Status Messages Are Automated?
Any status message you find valuable, we can automate for you. From New Order, Declined Order even Quality Condition – any status or action can have a customized automated email. But we let you retain control over these customizations. You chose what the emails/ texts will say – who receives them – even when they go out. Keep your control while keeping time sensitive practices measurable.
How can I keep track of a Lender’s Appraisal Guidelines, Fee Schedule, Specific Order Instructions, etc?
TrakLogix keeps track of this for you! Have specific instruction population right on the Vendor Order Agreement and Order form that are specific to your customer!
How do I communicate regarding orders?
TrakLogix has a state of the art order notating system that allows you to communicate directly on the order. Maintain compliance by sending notes to Lenders OR Appraisers, and having all communication logged for your records.
My Lender will only send orders in emails – Can I put the order in myself?
Absolutely! You can easily enter an order in under 2 minutes with TrakLogix. TrakLogix was made to be user friendly – so it will even make sure that you have entered all relevant and necessary information to complete the order!