CoesterVMS Releases New Appraisal Quality and Compliance Tool

CoesterVMS, a provider appraisal management and technology, has launched Appraisal Intelligent Review (AIR) system for the lending and appraisal industries. The system gives lenders and appraisers full access to CoesterVMS’ robust system so they can take advantage of its quality control, analytics and compliance tools. AIR is currently available for all of CoesterVMS customers and vendors.

AIR helps lenders and appraisers with the general appraisal requirements for Fannie Mae and FHA and assists with lender, investor and property specific overlays all from one end-to-end system built by CoesterVMS’ research and development team.

“It walks lenders step by step through the appraisal process and tells them what was wrong with the report, what we did to address it, what the appraiser did to address it as well as walk them through a customized review process that’s very user friendly and requires almost no training,” said Brian Coester, chief executive officer of CoesterVMS. “The system is also fully scalable to any bank, investor, state specific or lender requirement and will be much more detailed than most quality control systems available on the market today.”

CoesterVMS offers system access to appraisers directly. This is an effort to give the appraisal community an advantage when working with various lenders and investors. AIR ensures the scope of work and specific lender and investors requirements are met before the report is sent to the AMC, and ultimately, the lender.

“CoesterVMS has always had a great system and built technology that we really need as a lender,” said Saudia Casper, director of quality control at First Mortgage in Ontario, Calif. “AIR is something that we couldn’t be more excited about as a customer, as it will really help us maintain a full-spectrum quality control system.”