Several valuation service providers have enhanced existing products or developed new ones to help appraisers cope with Collateral Underwriter.
Implementation of RealView is expected to make the appraisal process more efficient for mortgage lender clients of Dart Appraisal.
An announcement last month from Dart indicated that the appraisal quality technology is implemented prior to sending reports to clients.
“The process a lender employs for collateral underwriting has changed dramatically in the past few years,” Dart Appraisal Executive Vice President Michael Dresden explained in the news release. “The increased attention to detail requires lenders to invest additional time, staff and resources in this process. AMCs can help mitigate delays for the lender by reducing the friction caused by multiple client corrections on the same file.”
A news release Monday said LRES’ AMC best business practices handbook is available for other AMCs to use. Key principle and characteristics of an effective AMC are outlined in the publication.
FreeAppraisalReview.com has been updated with My Property Database, a March 31 statement said. With the enhancement, appraisers can
compare current appraisal data with data from their previously completed appraisals.
“FreeAppraisalReview.com is the industry’s only cost-free automated appraisal quality technology designed specifically for residential real estate appraisers,” the statement said. “My Property Database, a user-specific quality control tool, helps appraisers avoid errors, maintain consistency in their appraisal reports and in doing so, avoid delays caused by Fannie Mae’s Collateral Underwriter.”
Another proposed solution to challenges presented by Fannie’s CU is Redstone, according to Bradford Technologies. A March 30 statement said the
advanced appraisal analytics technology was specifically designed to address the challenges appraisers face with new appraisal review programs.
The Redstone service costs $5 per analysis and is available online at www.appraisalworld.com.
A strategic relationship announced last month between Comergence and the Organization of Real Estate Professionals
will mean OREP members get a discount on Comergence’s risk management services. One of those services, REALM, sets up a single online appraiser profile that can be shared with all AMCs.
Also last month, Mission Viejo, California-based Comergence said it had worked out a deal with the National Association of Appraisers that will raise the profile of NAA members among AMCs.
