NEW YORK — Appraisal management companies, appraisal technology providers and firms that provide broker price opinions are a dominant force at this week’s secondary conference.
The William Fall Group operates two businesses. The first, based out of Toledo, Ohio, is a national appraisal firm with 175 staff appraisers who service 43 markets. The second, Valuation Partners, is an appraisal management company located in Sugarland, Texas.
Yesterday, Valuation Partners announced two new alternatives to BPOs. The Micro Market BPO provides key data about the local market, while RE Value Pro — which is reviewed by a licensed appraiser — includes the market data plus current photos and maps of the subject property.
Roseville, Calif.-based Valligent claims it has performed more than 150,000 valuations since opening its doors for business in 2002. The service costs between $75 and $80 and is reviewed by an appraiser. But the valuations are not done on a Uniform Residential Appraisal Report Form 1004. Valligent Chief Executive Officer Jeremy McCarty hopes that a new certification from the company, V-Cert, will help investors have confidence in the quality of a given appraisal.
GlobalDMS — a MortgageDaily.com advertiser and a regular attendee at industry events — provides technology for adhering to the Home Valuation Code of Conduct. Its offerings are utilized by lenders who want to manage the appraisal process themselves and by AMCs.
A second company that considers both AMCs and lenders among its customers is InHouse. With its technology, lenders can manage their own appraisers at a cost of $5 per transaction. But the Orange, Calif.-based company is also an AMC — giving lenders the option of going either way.
Another MortgageDaily.com advertiser, Service 1st Valuation and Settlement services, has expanded to provide national coverage.
At AppraisalWorld, appraisers are required to go through extensive training to learn its platform. With around 1,000 appraisers, the company’s customer base includes regional banks and credit unions.
San Jose, Calif.-based AppraisalWorld announced yesterday that its collateral valuation report helps reduce mortgage fraud.
MortgageDaily.com advertiser Solidifi U.S. passes on most of the appraisal fee to the appraiser. But appraisers are required to go through a lengthy approval process. Its customer base has jumped 150 percent during the past year.
Solidifi said yesterday that its new CoverageMAX and CoveragePLUS provide valuation insurance for lenders and investors from an ‘A’ rated insurance company.
One other MortgageDaily.com advertiser, StreetLinks, offers a performance guarantee. The Indianapolis-based company is a subsidiary of former subprime lender Novastar Mortgage Inc.
