Allstate Appraisal and Bradford Technologies have launched Valuation Express, a new desktop appraisal product incorporating a third party inspection of the property. Valuation Express reports are prepared by licensed and certified appraisers with local market knowledge and expertise, using traditional and statistical analysis to support the subject property’s value.Click to continue
More than 17 percent of appraisals on purchase transactions were found to report a value less than the value of the contract price.Click to continue
CoesterVMS, a nationwide provider appraisal management and technology, has integrated its Cloud Control appraisal management service into a la mode’s Mercury Vendor Management Portal. Mercury users are now able to use the system to place appraisal orders into the CoesterVMS platform. Lenders are tasked with managing the compliance and regulatory requirements associated with firewalls used to protect systems and information.Click to continue
Global DMS, a provider of Web-based compliant valuation management software, announced that it launched Appraisal Tracking On Mobile (ATOM), an application that arms appraisers with robust functionality, instant access to information, and communication capabilities that facilitates greater productivity in the field.Click to continue
LRES has announced the expansion of its client relations division to increase client care and process efficiency to accommodate the influx of new client accounts. As part of the expansion, LRES has allocated additional resources toward the client relations division, adding more budget and personnel to support increased customer communications and additional client visits, calls and client-facing promotional activities.Click to continue
USRES has completed a significant enhancement to its proprietary valuation portal, powered by RES.NET. The solution now provides improved security to borrowers by allowing them to securely pay for appraisals through the portal rather than share credit card information over the phone. This enhancement provides loan officers an added option for completing the payment portion of the appraisal ordering process once they order an appraisal through USRES’ online ordering system.Click to continue
Question: What documentation is required after the appraisal is completed and the subject property is located in a disaster area?
With hurricane season and wild fires in full swing, the question is common to all agency types of loans: FHA, VA, Conventional, and USDA. Such natural disasters include, but are not limited to, hurricanes, mud slides, rising waters/flooding, wild fires, tornadoes, et cetera.Click to continue
Although appraisers and lenders work closely together, the Appraisal Institute believes that there is still some confusion in the marketplace over when, if and how appraisals can be transferred.Click to continue
The nation’s largest professional association of real estate appraisers invited valuation professionals to provide additional input on the organization’s proposed standards of valuation practice, one of the Appraisal Institute’s three previously announced major strategic initiatives.
Seeking additional comments from valuation professionals, the Appraisal Institute board of directors has directed distribution of second exposure drafts of the following documents:
►Proposed Appraisal Institute Standards of Valuation Practice; andClick to continue