Skip to main content

Pro Teck Unveils Hybrid Appraisal Product
Dec 06, 2013

Pro Teck Valuation Services announced a new hybrid appraisal product for home equity and 2nd mortgage lending. The Appraisal Desktop with Inspection (ADI) is completed by an in-state licensed staff appraiser in compliance with USPAP standards. ADI fills the gap between an Automated Valuation Model (AVM) with Property Condition Report (PCR) and a field appraisal.  The ADI is a desktop appraisal that appraisers can complete and be USPAP compliant, and is more economical than field appraisal alternatives, such as a Form 2055.    The process begins with a local real estate broker/agent from Pro Teck’s national panel who takes photos and completes a full inspection of the subject property and neighborhood influences.  The inspection is then routed to an appraiser who uses MLS and other market data along with access to Pro Teck’s local market condition analytics to determine the most accurate valuation. Two of Pro Teck’s core assets are the deep experience of its national staff appraiser team located throughout the country and its large, mature, national network of real estate brokers/agents.  The ADI leverages both these assets by utilizing the local real estate broker for an inspection and the staff appraiser for the analysis and reconciliation of market data. “For those searching for a valuation product that meets stringent risk and regulatory demands, Pro Teck’s ADI is a safe, accurate, timely and affordable field appraisal alternative,” said Tom O’Grady, CEO of Pro Teck Valuation Services. “The ADI provides a quality valuation in an easy-to-read format with a turn-time of less than five business days.”
Dec 06, 2013
More from
Fintech Mortgage Lender Button Finance Raises $2M Seed Round

Button Finance Inc. a fintech mortgage lender focused on home equity, closed a $2 million seed raise.

Oct 25, 2021
Total Expert Introduces New Functionalities And Products For Banks And Lenders

Total Expert upgraded its CRM and customer engagement platform with a series of new functionalities and products.

Oct 22, 2021
Blend Launches New Income Verification Product

Blend Income Verification is a new product for financial services firms that provides instant income verification for mortgages and soon, consumer loans and deposit account opening.

Oct 21, 2021
ICE Mortgage Announces 0 Percent Loans For HFA Borrowers

ICE Mortgage Technology's latest Encompass update, Encompass 21.3 supports the ability for lenders to offer 0% loans.

Oct 20, 2021
FormFree Taps Amazon Web Services For Consumer Financial Identity Solutions

FormFree will use Amazon's blockchain technology to manage its latest consumer Financial DNA solution and its newly introduced FormFree Exchange.

Oct 19, 2021
Wemlo Introduces Third-Party Processing Solution

Wemlo announced the first third-party mortgage processing solution, Loan Brokering System.

Oct 18, 2021