Pro Teck Valuation Services announced its Appraisal Risk Review (ARR) product for mortgages being purchased into conduits or packaged into securitizations. Pro Teck's ARR measures the accuracy, compliance and risk factors of an appraisal and efficiently supports the due diligence needs of investors and the compliance obligations of rating agencies and regulators.
The ARR can be utilized to:
►Determine risk and compliance within an appraisal;
►Evaluate the value and comparable selection by the appraiser;
►Recommend further due diligence based on the client's policies and tolerances;
►Provide an objective risk score to drive workflows.
►ARRs are completed by a licensed/certified appraiser located in the state of the subject property.
"Pro Teck is pleased to announce the availability of the Appraisal Risk Review for investors who are reviewing loans to place into securitizations or conduits," said Tom O'Grady, CEO of Pro Teck Valuation Services. "The heightened regulatory and risk environment has increased the need for a defendable and actionable Appraisal Risk Review product with the expertise of a USPAP compliant appraiser and objectivity of integrated market data and analytics. The feedback from the rating agencies has been very positive and the product has performed well in several securitizations."
Each ARR report includes: a summary page with rating, issues and conclusion; written analysis, comparables and sale history (comparable search parameters customizable to Client guidelines), fully integrated market data & analytics and all supporting documentation.