Appraisal Help

Recent activity with appraisal-related services

May 5, 2010

By SAM GARCIA

Recent offerings by service providers are aimed at helping appraisals improve their reports and helping lenders maintain adequate oversight. The new offerings include a consulting service and a book.

In early April, Valligent announced the launch of a consulting division with a focus on helping lenders develop strategies for providing accurate, compliant and cost-effective valuation solutions. Valligent Chief Executive Officer Jeremy McCarty will lead the new division.

An update to REALview will help mortgage lenders and investors to better scrutinize the valuation accuracy of their appraisals, an April 26 announcement from PLATINUMdata indicated. The service utilizes multiple public-record databases to target the most relevant comparable sales and an automated quality score to speed up appraisal reviews and reduce risk.

A new appraisal order portal helps wholesale and retail originators comply with regulatory, investor and Home Valuation Code of Conduct requirements, Pro Teck Valuations Services recently announced. The portal is configurable.

Appraisers can obtain more data about a home's energy efficiency from The Green Multiple Listing Service Tool Kit, the Appraisal Institute said in an April 21 statement. The offering promises to empower appraisers with the ability to make well-supported comparisons, analyses and adjustments on energy efficient properties.

One week earlier, the institute said it published a new book that provides a practical instruction on the appraisal review process and enables a better understanding between reviewers and appraisers. The second edition of Appraising the Appraisal: The Art of Appraisal Review was authored by Richard C. Sorenson, MAI, a principal of Appraisal Management Consultants.

The 255-page book costs $50 and reportedly reviews common deficiencies in appraisal reports. It also offers advice about preparing appraisal reviews for appraisers and lenders.