Elliott & Company Appraisers has introduced an appraisal review system, RevuPro, designed to meet the needs of its clients who need a fast and economical Web-based appraisal review product that addresses the mandates of recent mortgage industry regulations. RevuPro is not only compliant with the Uniform Standards of Professional Appraisal Practice (USPAP), but it also addresses the requirements of both pre-funding and post-funding collateral-management mandates for commercial, as well as residential properties.
“RevuPro offers a comprehensive risk-management system that complements the lenders’ efforts to insure high-quality appraisals from their appraisal sources,” said George Williams, director of client services at Elliott & Company Appraisers.
RevuPro is designed to cascade from the most basic to the most comprehensive, permitting the lender to reduce administrative overhead. RevuPro offers a comprehensive risk management system, which would complement the lenders’ efforts to insure high-quality appraisals from their appraisal sources, and reduce risks inherent in the mortgage lending business. It further offers a firewall between the lender’s loan officers, administration personnel, underwriting staff and servicing department.