Appraisal Administration

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Appraisal Administration

An appraisal request creates appraisal bids for each appraiser associated with the collateral category.

The Appraisal Administration page lists all the created appraisal requests.

Manage appraisal requests

The appraisal administration can manage the appraisal requests through the following actions:

  • View the appraisal request.

  • Update the bid amount with the amount quoted by the appraiser and the due date mentioned by the appraiser.

  • Accept or reject a bid or autoselect a bid.

    When the administrator accepts one bid, the other bids are automatically moved to Rejected status by the system.

  • Review the appraisal report submitted by the appraiser after a bid is accepted, upload it, and then approve it. 

  • View the appraisal report submitted by the appraiser.

Prerequisites

Before you proceed to view the appraisal requests and manage your actions on them on the Appraisal Administration screen, ensure that the following prerequisites are met:

  • A user of type Appraisal Administrator is created.

  • The appraisal administrator is assigned to an appraisal queue.

Steps

To view the appraisal requests and manage your actions on them on the Appraisal Administration screen:

  1. Log in to your Salesforce account.

  2. Go to  (App Launcher) > Launchpad > Appraisal Administration.

    A screen is displayed that lists all the appraisal requests for the logged-in user (if the user is an assignee or member of the queue) with the following details and the actions to be performed on them:

  3. Search Appraisal Request: An appraisal request can be searched by entering the appraisal request id, the collateral name, or the appraisal administrator queue name in this fields.

  4. Filter and Reset Filters: 

    • A default filter is added to the page. The filtering of the appraisal requests is based on the appraisal request's status, due date, or the appraisal admin.

    • More than one filtering condition can be added. 

    • All the applied filters can be removed by selecting the Reset Filters button.

  5. Expand (Appraisal Bids): Select this to know more about the appraisal request, such as Appraisal Bid ID, Bid Amount, and so on.

  6. Pagination:

    • The appraisal administration dashboard page displays 5 appraisal requests at a time with the and options and the page numbers to go to the next or previous page. 

    • The number of appraisal requests to be displayed per page (up to 50) can be customized by selecting a value from the Show list.

    • More than 50 appraisal requests can also be displayed by selecting the Load More option, which is displayed when more than 50 appraisal requests are present in the org.

  7. and :

    • These options are to navigate to the next or previous set of appraisal requests.

    • The option is present on all the pages except the first one.

    • The option is present on all the pages except the last one.

    • The page numbers are also displayed to navigate to the respective page.

  8. Sorting: Columns can be sorted to list the appraisal requests as per the requirement.

Field Name Action and Information

Appraisal Bids

()

Select this icon to fill in the bid amount and accept or reject a bid.
Appraisal Bid IDThe unique id of the appraisal bid. On selecting this link, the user is navigated to the Appraisal Bid page.
Bid AmountThe amount quoted by the appraiser to appraise the collateral.
Authorized AppraiserThe appraiser associated with the bid. On selecting this link, the user is navigated to the Account page.
Due DateThe date by which the appraiser can submit the appraisal report.
Status

The status of the collateral appraisal bids. 

The supported options are:

  • Pending- When a collateral appraisal request is raised, the bids are in Pending status

  • Submitted

  • Approved 

  • Rejected- When a collateral appraisal bid is rejected by the appraisal administrator or the system, the bid is in Rejected status.If an appraisal administrator accepts a bid, other bids are rejected automatically.

  • Expired-  When no action is taken on an appraisal request till the due date, manually update the status of the bids related to that request to Expired, and then resubmit the appraisal request.

  • Accepted - When a collateral appraisal bid is accepted by the appraisal administrator or the system, the bid is in Accepted status.

Send ReminderSelect this option to send reminder emails to appraisers to submit the bid or submit the appraisal report.
Collateral NameName of the collateral specified while creating the collateral.
DescriptionDescription of the collateral specified while creating the collateral.
Appraisal Administrator Queue NameThe appraisal administrator queue name to which the appraisal administrator is assigned.
Appraisal AdminThe appraisal admin who has raised this appraisal request.
Appraisal Request IDThe unique id of the appraisal request.
Total BidsThe number of appraisal requests sent to the appraiser when a collateral appraisal request is created.
Due DateThe date the appraisal administrator provides while raising a collateral appraisal request.
Status

The status of the collateral appraisal request. 

The supported options are:

  • Pending- when a collateral appraisal request is raised, the requests are in Pending status

  • Approved

  • Rejected- When a collateral appraisal request (bid) is rejected by the appraisal administrator or the system, the request is in Rejected status.

    If an appraisal administrator accepts a bid, other bids are rejected automatically.

  • Expired- When no action is taken on an appraisal request till the due date, manually update the status of the bids to Expired.

  • Closed

NoteThe remark or additional comments the appraisal administrator specifies while raising a collateral appraisal request.
Action

The following actions can be performed on an appraisal request:

  • Auto Select Bid- To auto-select a bid based on the custom logic defined by the organization, select the Auto Select Bid option from the Actions list.

  • Submit Appraisal Report- To upload the appraisal report submitted by the appraiser, select the Submit Appraisal Report option from the Actions list.

  • View Report- To view the submitted appraisal report, select the View Report option from the Actions list. You can preview and download the report also.

  • Add Bid- To add the bid amount and the due date received from the appraiser, select the Add Bid option from the Actions list.

  • Save- To save the modifications made to the appraisal request, select the Save option from the Actions list.

Add/Edit Bid

  1. For the required request, expand the ( Appraisal Bids)section. The list of bids received against the request is displayed.

    1. Double-select the row to edit to update Bid Amount and Due Date.

      OR, select the Appraisal Bid ID and then Edit.

      OR, select Add Bid to add a new bid amount and due date.

    2. From the Status list, select Accepted or Rejected and select Save from the Actions list. 

Submit appraisal report

  1. To upload the appraisal report submitted by the appraiser, select the Submit Appraisal Report option from the Actions list.

  2. Specify Collateral Value, Value Date and select Upload to submit the report, and then select Save.

    Note:

    • The Value Date field is defaulted to the current system date and can be modified by the appraisal admin.

    • The amount specified in the Collateral Value field is displayed as Collateral Valuation > Value on the Collateral page.

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