Validata Lender Services has announced Desktop Valuation, an appraisal product that gives lenders and borrowers an initial opinion of value on a particular property, helping lenders determine if a subject property can potentially meet the value requirement of the loan. “The continued instability in today’s housing market makes it difficult to gauge the fair market value of a residential property,” said John Henry Sisk, director of operations at Validata Lender Services. “Lenders and borrowers can now use our Desktop Valuation product to receive an initial opinion of value without investing significant time and money into a full appraisal. By using the Desktop Valuation and analyzing whether the property is in the right value range required for the loan, originators can help efficiently prioritize loan applications to determine which ones are viable.” Approved appraisers in the Validata network formulate an opinion of value based on assumptions that the property is in good condition and conforms to the neighborhood in terms of style and construction. The Desktop Valuation Summary Appraisal Report contains information about the property type, market trends, comparable sales and an initial opinion of value. If the valuation meets the requirements of the loan, a full appraisal can then be ordered, with the cost of the Desktop Valuation going towards the full appraisal cost. If the property does not fall within the required value range, the investment was significantly less compared to the cost for a full appraisal. Desktop Valuations typically take only 24 hours to perform, so the loan process is not stalled. “Each property is different and no limited appraisal can replace a full appraisal. However, if we can help our clients more accurately evaluate their property value from the beginning, we save both time and resources for the borrower and the lender," said Sisk. "And since the cost of the Desktop Valuation is absorbed into the price of a full appraisal, there is limited risk."