A number of enhanced offerings are aimed at upgrading the quality of valuation reports. Several improvements are being accomplished through alliances and partnerships.
The new Appraiser Certified Evaluation desktop appraisal product promises to meet lenders’ and investors’ needs on appraisals for home-equity line of credit, second mortgages and real estate owned — among other loan products.
Jointly announced in March by Valuation Link and Bradford Technologies, ACE appraisals promise to be credible, competitively priced and compliant with Uniform Standards of Professional Appraisal Practice — or USPAP — and the Interagency Appraisal and Evaluation Guidelines.
Valuation Link, an appraisal management company, operates virtually at www.valuationlink.com. Bradford Technology’s virtual headquarters is at www.AppraisalWorld.com.
A March 18 announcement indicated that Platinum Data Solutions has been approved as one of nine authorized distributors of Freddie Mac’s Home Value Suite. The suite includes an automated valuation technology product and a quality control tool.
“Platinum Data is the largest independent reseller of automated valuation models in the country and the premier provider of collateral evaluation and quality technologies for the mortgage industry,” the news release said. “As an authorized distributor, Platinum Data can now sell HVE to not only lenders, servicers and other direct users, but also third party resellers.”
Platinum Data’s website address is www.PlatinumData.com.
A day later, a separate statement said U.S. Real Estate Services Inc. had implemented RealView from Platinum Data Solutions. The move is expected to improve quality control by U.S. Real Estate.
U.S. Real Estate Services in online at www.usres.com.
Also last month, an announcement indicated that Platinum Data’s rules engine is being integrated into the Comergence database. The partnership will enable Comergence to take advantage of a rules engine that rapidly processes and analyzes appraisals for compliance.
“In the mortgage industry, all eyes are on appraisal quality because of regulations from the Consumer Financial Protection Bureau and the OCC,” Platinum Data Chief Executive Officer Phil Huff said in the statement. “Many appraisal management companies consider using a third-party for QC a best-practice; Comergence vets appraisers to ensure they are competent and compliant.”
An agreement announced last month with Comergence has Landmark Network Inc., an AMC, and valuation firm Quality Valuation Services utilizing Comergence’s due diligence and surveillance service for their real estate appraisers.
Global DMS’ eTrac Enterprise platform has been integrated with CoreLogic’s ChannelMaster Enterprise Lending Solution, an April 1 statement said. The integration helps CoreLogic customers increase efficiency while cutting costs.
Global DMS operates online at www.globaldms.com.
Top appraisers have been recognized by LRES for their quality performance, demonstrated expertise and commitment to providing outstanding service to the mortgage industry, a statement last month said.
The appraisers recognized by LRES were Renee Brandt, Daniel Finley, Nelson Roque, Vincent Ruffino, Fred Wheatley and Robert Wilson.
