Customized Lenders Services is aquired from Public Abstract Corporation/First American Title Insurance Company of New York – NMP Skip to main content

Customized Lenders Services is aquired from Public Abstract Corporation/First American Title Insurance Company of New York

National Mortgage Professional
Jul 29, 2008

ValuFinders expands appraiser network and adds broker clientsMortgagePress.comValuFinders, REO, Appraisal CONCIERGE, Home Valuation Protection Program ValuFinders Inc., a valuation services provider to national lenders and government agencies, has reached several milestones during the first half of 2008, including increasing the number of appraisers in its national network, expanding into the broker market and enhancing its Appraisal CONCIERGE system. The company has processed more than 110,000 REO inspections since 2004 for the Department of Housing and Urban Development, along with providing a Web-based system it created to help the government agency manage its REO inventory. ValuFinders expects to keep pace with the influx of REO inventories with new technological enhancements. ValuFinders has become one of the largest networks of appraisers in the country, growing to more than 9,000 members. The continued growth will offer lenders and originators more options and provide additional national coverage. The network is available through ValuFinders' Appraisal CONCIERGE, which allows lenders or originators to order and receive appraisals. The system focuses on the assignment and delivery of the appraisal, leaving appraisal management companies to concentrate on managing the process. Pending proposed regulatory changes, originators may not have the option of using appraisal management firms or selecting the appraisers. Another milestone for the company is the expansion of its services into the broker market. The company has added approximately 1,000 brokers to its network. "Extending our services to brokers opens a direct link to preventing the appearance of coercion in the appraisal process," said Joe Williams, CEO of ValuFinders. "Brokers can now concentrate on getting new business with a streamlined appraisal ordering process via Appraisal CONCIERGE." And the recent enhancement of ValuFinders Appraisal CONCIERGE system meets the requirements under the proposed Code of Conduct spelled out in the Home Valuation Protection Program, which promotes appraiser independence in the valuation process. Freddie Mac and Fannie Mae will no longer purchase loans from originators who do not comply with the Code, which eliminates the brokers' and other originators' ability to order appraisals through appraisal management companies. Appraisal CONCIERGE allows brokers to order appraisals from the aforementioned network of national appraisers. "There are so many variables to consider in doing business right now because of the market and the pending regulatory changes," Williams said. "One thing is certain: as the market readjusts and revamps itself, technology will play a much stronger role than in any other market recovery." For more information, visit www.valufinders.com.
Published
Jul 29, 2008
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