Ascribe anticipates that all independent contract Vendors performing services for Ascribe meet certain qualifications, as well as performance and conduct standards set by Ascribe Clients and other industry participants.
a. Letters of Engagement (LOE)
Each assignment from Ascribe contains specific requirements pertaining to the order. Vendors are expected to complete each accepted assignment in accordance with the terms and specific conditions outlined within the service request, order request, order Special Instructions, or other manner of request from Ascribe (collectively referred to as a Letter of Engagement or “LOE”). Vendors are asked to immediately contact Ascribe if they are unable to meet the terms of the LOE. Failure to adhere to order requirements may result in a failed quality examination, generate a request for corrections that delay the completion of the report, or affect vendor scoring.
b. Communication
Communication is critical to any successful relationship. Vendors are asked to keep Ascribe up to date on a regular basis regarding their orders, vendor profile status, or other matters critical to the successful delivery of services to Ascribe. Vendors who are proactive in communicating updates to Ascribe can expect to receive minimal status inquiry calls from Ascribe.
Vendors are strongly encouraged to utilize the Vendor Portal as the primary method of communication, but we are happy to accommodate phone calls when that is more efficient for you.
Vendors are asked to notify Ascribe of their progress on all basic service milestones, so that we can, in turn, advise our Clients of the same. Please refer to Basic Milestone Expectations below, for more information. Vendors should contact Ascribe immediately when issues arise during the performance of services, including but not limited to:
• Questions regarding the specific order instructions, form, or Letter of Engagement (LOE)
• Need to reject an assignment after order acceptance due to conflict of interest, lack of competency, etc.
• Unable to reach the property access contact for interior inspections. • Missing lock box or incorrect lock box code.
• Unable to complete or schedule an inspection within the timeframe necessary to meet the report delivery deadline.
• Unforeseen delays that may impact the report delivery deadline.
• Running late for, unable to keep, or missed a scheduled inspection.
• Identification of property issues that may prevent report completion, such as zoning issues, unsafe conditions, highest and best use, stop and call requirements, etc.
• Unable to meet a pre-required response timeframe to Client post-delivery inquiries.
Ascribe associates will help to answer questions, eliminate, or mitigate delays, or gain clarification from the Client on how to proceed, if needed.
a. Order Assignment
Depending on the product service type, Ascribe may utilize auto-assignment, broadcast, or manual assignment processes to route orders to the most qualified vendor. Vendors are selected for individual assignments based on a variety of factors, including but not limited to eligibility, score, familiarity with the product type, proximity to the subject property, available capacity, fee, etc.
b. Order Acceptance
Vendors can accept orders by accessing their secure account on the Ascribe Vendor Portal, or by contacting an Ascribe associate by phone to verbally confirm acceptance. Regardless of the acceptance method, the action is logged within the Ascribe proprietary order processing application. A vendor’s verbal or electronic acceptance of the order constitutes understanding of, and their agreement to, the conditions of the assignment (LOE).
As noted in the Vendor Engagement Agreement, vendors must personally complete all assignments in their entirety, up to and including the physical inspection of the subject property; and vendors will not subcontract or reassign any assignment, or part of an assignment, to any other party.
c. Interior Inspections
Vendors should attempt to reach the property access contact to schedule the inspection on the same day as order acceptance. Vendors are asked to communicate the date and time of the scheduled inspection by accessing their secure account on the Ascribe Vendor Portal, or by contacting Ascribe by phone to verbally communicate the information.
Vendors are encouraged to consider the availability of the point of contact (or borrower) when scheduling interior inspections.
d. Exterior Inspections
Vendors should visit the subject property at their earliest availability. Vendors are asked to communicate the anticipated date and time of the inspection by accessing their secure account within the Ascribe Vendor Portal, or by contacting Ascribe by phone to verbally communicate the information.
e. Report Delivery / Form Completion
Vendors should return the completed product in accordance with the terms outlined in the specific LOE. For traditional appraisal products, reports must be submitted via the Vendor Portal and include PDF, XML and, in some cases, ENV formats. Certain products, such as Broker Price Opinions (BPO) and Evaluations, require that the vendors complete an online form on the Ascribe Vendor Portal.
f. Post-Delivery Requests
After report delivery, the Client may request additional clarification or detail regarding a report, may identify factual errors within the report requiring correction, or may request that the vendor consider additional, appropriate property information that may differ from what the vendor has reported. Post-completion requests from the Client are considered part of the original scope of the
assignment.
g. Request for Reconsideration of Value
If Ascribe receives a Reconsideration of Value (ROV) from the Client, it will review the request and submit a ROV form detailing the request requirements to the Vendor. A revised appraisal with commentary addressing each concern or sale in full detail, regardless of whether the new data results in a material change to the analysis or value conclusion. The revised report is to include a summary of the impact of the additional information on the analysis and conclusions within the report.
The table below provides the typical milestone performance expectations for Ascribe assignments based on broad product type. The table is meant to provide general guidelines for standard order completion and interim milestones as required by the majority of Ascribe Clients or industry participants. Please note that the order-specific instructions or LOE provides precise assignment conditions, and if those requirements differ from the table below, the information listed in the LOE supersedes the table.
| Milestone | Interior Appraisal | Exterior Appraisal | Interior BPO | Exterior BPO | Interior Evaluation | Exterior Evaluation |
PRIMARY: Order Acceptance to Report Delivery | Not to exceed 4 business days | Not to exceed 3 business days | Not to exceed 4 business days | Not to exceed 3 business days | Not to exceed 5 business days | Not to exceed 3 business days |
| SECONDARY: Assignment to Order Acceptance | 4 business hours | 4 business hours | 4 business hours | 4 business hours | 4 business hours | 4 business hours |
SECONDARY: Call the Property Access Contact | 8 business hours | N/A | 8 business hours | N/A | 8 business hours | N/A |
| SECONDARY: Order Acceptance to Inspection | 48 hours | 48 hours | 24 hours | 24 hours | 24 hours | 24 hours |
| SECONDARY: Inspection Complete to Report Delivery | 48 hours | 48 hours | 24 hours | 24 hours | 24 hours | 24 hours |
| SECONDARY: Complete Post-Delivery Requests | 24 hours | 24 hours | 8 hours | 8 hours | 8 hours | 8 hours |
ASCRIBE RESERVES THE RIGHT TO CANCEL OR REASSIGN ANY REQUEST FOR SERVICES IF A VENDOR DISREGARDS THE SPECIFIC CONDITIONS LISTED IN THE APPLICABLE LOE.
EXTENDED DELAY OR ABSENCE OF COMMUNICATIONS WITH ASCRIBE, OR OTHER ACTIONS INCOMPATIBLE WITH CLIENT, INDUSTRY OR ASCRIBE GUIDELINES MAY ALSO RESULT IN ORDER REASSIGNMENT OR CANCELLATION.
The Ascribe order processing application uses an algorithm that evaluates the performance of eligible vendors, and it ranks vendors for each specific assignment. Criteria used in the evaluation include a vendor’s available capacity, proximity to the subject property, historical quality rating, historical response time, historical turnaround time, prior experience with the product type, and fee. Scores are individually computed for each criterion, then summed to present a final score that can be used in both manual and auto-assignment.
Ascribe reserves the right to periodically modify its scoring algorithm to better reflect business priorities, account for changes in regulations, allow for technology enhancements, or based on Client and vendor panel feedback.
Client restrictions, or “Do Not Use” requirements, are applied to each Client’s account as requested. Because Ascribe is not privy to the Client’s documented administrative or quality-control process that warranted their request to exclude a Vendor from receiving additional Client assignments, no notification is made by Ascribe. Ascribe is unable to share details of Client requested restrictions with vendors.
If it is determined that removal of a vendor from the Ascribe panel is warranted due to unacceptable conduct, or failure to comply with industry regulations, state licensing standards, or Ascribe’ professional or performance expectations, Ascribe will notify the vendor in writing.
The Vendor is provided with a 15-calendar-day window to respond to the notification and rebut the allegations. Ascribe makes a final determination based on internal information and the information provided by the Vendor, if any, and then notifies the Vendor of the final decision as well as any additional actions taken (e.g., reporting to state licensing authority), if warranted.