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Bradford Technologies Releases Collateral Valuation Report Upgrade

NationalMortgageProfessional.com
Aug 13, 2012

Bradford Technologies, provider of valuation analysis software, has announced the release of CVR 2.0, the next generation of CVR—Collateral Valuation Report—the appraisal report that introduced statistical analysis into the appraisal process, making it known by many valuation experts as the most advanced appraisal on the market. Changes in the new format provide greater clarity and transparency of the appraiser’s valuation process. The new CVR 2.0 report format makes greater use of charts to convey information and statistics to enhance the reliability and accuracy of the valuation. CVR 2.0 combines four analyses: Market analysis, regression analysis, the sales comparison approach and the listing comparison approach to arrive at a reconciled value conclusion. The analyses are synergistic, strongly interdependent and add to the reliability of the value conclusion. For instance, regression analysis predicts a value, but it also produces the components of value that can be used as adjustment factors in the sales comparison approach. The market analysis provides the sales/listing ratio, which is used to normalize listings as sales. This mathematically allows the components of value from regression to be used as adjustment factors on the currently listed properties in the listing comparison approach. This interdependence ensures that the reconciled value conclusion is highly reliable. CVR 2.0 also introduces value ranges. Historically, appraisals have provided a market value at a point in time. With the introduction of statistics into the valuation process, ranges and probabilities can start to be incorporated into the process. CVR 2.0 takes the first step in this direction by introducing the Value Reconciliation Chart, which visually summarizes the four analyses, indicated values, valuation ranges and value conclusion. This innovation allows the results of the appraisal to be summarized visually and quickly understood. CVR 2.0 also now incorporates identity theft and appraisal fraud prevention technology, the same technology used by the United States Post Office to prevent mail fraud. “Lenders have seen the benefits of statistically-enhanced appraisals. The future is about valuation analytics, scatter plots and regression models. CVR 2.0 has all this today. With the CVR 2.0, appraisers can provide their clients with the most reliable, most advanced, statistically accurate appraisal in America” said Jeff Bradford, chief executive officer of Bradford Technologies.
Published
Aug 13, 2012
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