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.
