Announcements issued on Monday highlight how mortgage firms will benefit from activity happening in the world of valuation.
In San Diego, Collateral Risk Solutions Inc. has introduced its Desktop Evaluation product. The new offering provides an appraisal option for home-equity lines of credit that is compliant with the Uniform Standards of Professional Appraisal Practice.
The reports can also be used for loss mitigation and quality control, according to the company’s news release.
Collateral Risk says the reports are prepared by appraisers who are considered to be geographically competent. They obtain information from a variety of sources including exterior third-party property inspection reports, satellite imagery and MLS data. Public record data and various mapping programs are also considered by the appraisers.
Collateral Risk Solutions Chief Executive Officer Joel Meredith said Desktop Evaluation fills the gap between a broker price opinion and a full appraisal with an interior inspection.
The company’s website is at www.colrisk.com.
By changing its name to MyAMC, A-1 Closing services hopes its name will more clearly identify the company’s business line.
“The name A-1 Closing Services gave lenders the impression that we were a closing services company, not an AMC,” MyAMC Managing Director Mills Landon said in the announcement. “We are expanding our presence among mid-size lenders, and everything about our re-branding, from our new name to the focus of our business operations, supports that objective.”
The re-branding was done in conjunction with MyAMC’s introduction of a mobile appraiser engagement technology and an auto appraiser assignment technology.
Landon added that everything about MyAMC “was specifically designed to enhance the customer experience.”
The Dallas-based company operates online at www.MyAMC.com.
Mortgage lenders, servicers and investors are expected to benefit from a challenge by First Valuation to its biggest competitors at BPOchallenge.com.
“We have identified 10 critical strengths where we believe we can outperform anyone in the industry,” First Valuation Vice President Chris McLain said in a news release. “We’re excited for the opportunity to compete against our peers and to show firsthand why we think we’re better.”
