New AMC Launches to Target Reverse Mortgage Sector

NewImage.jpgCoaster Appraisal Group announced it’s expanding the company’s full services to the reverse mortgage industry.

The nationwide appraisal management company already has a group of clients that includes Genworth, Reverseit, Live Well Financial, Generation Mortgage and more.

“We have always has a big steak into the reverse mortgage community and we felt it was necessary to have a team focused solely on handling the reverse mortgage appraisal side of the valuation process,” said Brian Coester, CEO of Coester Appraisal Group.

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The company offers senior borrowers the ability to use its ValueSafe appraisal program to obtain an accurate estimate of market value for their property without paying for a full appraisal.  Using the ValueSafe program, the borrower pays $100-150 and the order is assigned to a local appraiser to perform the analysis on the property using the local MLS data sources.

If the value is sufficient to support a loan, the money is applied to the cost of a full appraisal.  If the value is not high enough to support a loan than the borrower has only spent $100 – $150 instead of $450 and everyone can dismiss the possibility refinancing on good terms said the company’s website.

”Coester which has special appraisal programs such as the ValueSafe appraisal program as well as the special pricing has been reverse mortgage friendly for many years,” said Coester.

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  • The concept is a good one for seniors; however, it was interesting when Brian stated: “We have always has a big steak into the reverse mortgage community….” Not only is the sentence odd but the choice of the word “steak” over “stake” was also very interesting for a “hungry” appraisal firm.

  • Then there is “Coaster” versus “Coester” but with as many spell checks as I run, there is always something that squeaks through so who am I to complain?

  • If imitation is the highest form of flattery, Landmark is having a good day. They copied the text of our homepage word for word, used the same images and layout. They also list clients/lenders that they are not approved with. Most importantly, they are not licensed to do business as an appraisal management company in any of the states we searched. Not a great way to introduce themselves.

    • Erik, the site was put up per the request of our clients for a source for homeowners and brokers to go to get information specfically for reverser mortgages. There was some confusion on the liks (wholesale vs. retail and contact information) but all of that has been straigtened out. I didn’t work on the project and am looking into the text a the landmark website does look very similar. I have never even heard of landmark before today. Also, we are registered with all the states we do business in.

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