Skip to main content

Altisource announces enhanced property inspection report

NationalMortgageProfessional.com
Apr 13, 2010

Altisource Portfolio Solutions has announced the launch of its enhanced property inspection report which offers servicers and asset managers detailed information to enable more targeted marketing efforts to expedite the sale of residential properties. Unlike a traditional property inspection report which provides a general evaluation of the property's condition, Altisource's enhanced property inspection report includes a description of any physical aspect that may significantly affect the sale of the property. Details include the existence and working condition of major appliances, condition of the carpets or flooring and information such as whether electrical outlets and light switches are properly working. "There's a big difference in the approach to marketing properties that need minor cosmetic work as opposed to those that need major repairs and replacement of appliances," said Tara Williams, vice president of field services for Altisource. "By getting detailed information about the properties' condition upfront, servicers and asset managers are able to market the properties to the right buyers from the start and avoid the surprises that can lead to the property falling out of escrow." As an example, Williams explained the Federal Housing Administration (FHA) maintains certain standards for the property's condition. If the buyer seeks to obtain FHA financing, sellers of residential assets typically cover the costs of necessary repairs to bring the property up to FHA standards. "Servicers and asset managers can leverage the detailed information provided in our enhanced property inspection report to support their marketing efforts. If the property needs extensive repairs, sellers may choose to target cash buyers or investors who are less likely to make repair demands," said Williams. The enhanced property inspection report also includes periodic updates from onsite inspectors as frequently as every two weeks. The report is completed by a real estate professional independent from any other party providing services in support of the property sale. Altisource's property inspection and preservation services are nationwide and is led by a team of professionals averaging 15 years of real estate disposition experience. Altisource manages a large scale distributed network of vendors and performs tens of thousands of inspections monthly. For more information, visit www.altisource.com.  
Published
Apr 13, 2010
Biden Nominates McCargo To Lead Ginnie Mae

Currently Serves As Senior Advisor For Housing Finance At HUD

Regulation and Compliance
Sep 14, 2021
OCC Plans To Rescind 2020 CRA Rule

The OCC formally issued a proposal to rescind a controversial rule within the Community Reinvestment Act (CRA) that was published in June 2020.

Regulation and Compliance
Sep 10, 2021
Flexibilities Move Forward

Pandemic Priorities Continue To Drive Industry Modernization

Regulation and Compliance
Sep 08, 2021
FHFA And The Enterprises Coordinate Action On Equitable Housing

Today the FHFA is announcing that Fannie Mae and Freddie Mac (the Enterprises) will submit Equitable Housing Finance Plans to the FHFA by the end of 2021.

Regulation and Compliance
Sep 08, 2021
Realtors Encouraged By Biden Plan to Expand Housing Supply

Administration Said Wednesday It Plans To Add 100,000 Affordable Homes In 3 Years

Regulation and Compliance
Sep 03, 2021
Biden Administration Announces Plan For Affordable Housing

President Biden and his administration firmly believe it is time to intervene in the housing market.

Regulation and Compliance
Sep 01, 2021