Valuation Link and Bradford Technologies have launched ACE (Appraiser Certified Evaluation), a new desktop appraisal product that includes a property inspection report, and is compliant with USPAP and the Interagency Appraisal and Evaluation Guidelines.
ACE appraisal reports are prepared by licensed and certified appraisers with local market knowledge, using statistical analysis and a physical inspection to determine the subject property’s value. ACE reports’ statistically supported value conclusions are of significantly higher quality than those provided by BPOs and AVMs, which unlike ACE reports, are not completed by licensed appraisers and don’t use regression analysis to help support the value conclusion. ACE reports are also provided at a fraction of the cost of a full appraisal.
The ACE appraisal has been in development for over five years, and was specifically created to fit lenders’ and investors’ needs for a cost-effective, appraiser-prepared evaluation that is fully compliant with USPAP and the Interagency Appraisal and Evaluation Guidelines. Its low price point, fast turn-around time, and compliance with guidelines make it an ideal choice for HELOCs, second mortgages, REO, default management, portfolio analysis, and numerous other transactions.
“For years, lenders and investors have been seeking a compliant, cost-effective way to get a credible property evaluation for their non-first trust deed transactions,” said Jeff Bradford, CEO of Bradford Technologies. “These transactions do not warrant the cost of a full appraisal, yet still require a credible, supportable value. ACE is the industry’s answer. It costs less than a traditional origination appraisal, can be completed very quickly, and is built on statistical analysis.”
“We’ve addressed the concerns of our customers and provided them with a superior product that has the strength of a full appraisal at a fraction of the cost. This unconventional product is both versatile and highly credible.” said Robert Stackhouse, CEO of Valuation Link.
ACE reports are currently available only through Valuation Link. Appraisers can produce an ACE report using Bradford Technologies’ CompCruncher software.
“Appraisers can now produce better valuations with the assistance of Computer-Aided Appraising programs and concentrate their efforts on the critical analysis of property valuations rather than inefficient form-filling activities. The ACE product gives appraisers the opportunity to effectively compete in the new frontier of alternative valuations,” said Bradford.