Tag Archives: Appraisals

Urban Lending Solutions Appraisals LLC (ULSA) recently licensed the use of new appraisal management software from FNC, a real estate information technology firm. ULSA is a subsidiary of Urban Lending Solutions, a provider of loan modification services, underwriting, valuations, and other real estate information solutions in the mortgage business.

An industry study released Monday shows that nearly half of home sales activity last month involved distressed properties, a trend that is likely to continue as the backlog of foreclosures and mortgage defaults make their way through the pipeline. Within this distressed property segment, the market analysis shows a boom in short sales during the month of March to a record-high 19.6 percent, and a drop in the proportion of damaged REO, which the report says should be a positive for home values in future months.

Clear Capital has released its new Property Condition Inspection (PCI) tool. The new product provides a property's physical condition and characteristics, supplementing automated valuation models (AVMs) in accordance with new requirements from the Interagency Appraisal and Evaluation Guidelines (IAG) issued by federal regulators.

eMortgage Logic has launched a collateral assessment report (CAR) that can join with an automated valuation model (AVM) in response to the recently published Interagency Appraisal and Evaluation Guidelines. Using its network of preferred brokers, eMortgage Logic's report addresses the content criterion necessary regarding a property's current physical condition and local market influences.

Utah-based Infinity Valuation Services (IVS), a full-service valuation company for commercial and retail properties and the sister company to REO outsourcer Green River Capital, expanded its broker price opinions (BPOs) and appraisal services to include the valuation of retail or non-distressed properties.

The Oklahoma-based technology developer a la mode has teamed up with Real Property Insight to bring the industry a new valuation service for distressed assets. Real Property Insight is a specialized integrator of information and services focused on distressed asset disposition, and the company has selected a la mode's Mercury Network Vendor Management Platform to manage the valuation portion of its new product, the Real Property Insight (RPI) Report. a la mode estimates this valuation service will save the industry approximately $72 billion.

CoreLogic announced Tuesday that the company has promoted Wes McDaniel to the newly created role of chief appraiser for CoreLogic Valuation Services. In this position, McDaniel will be responsible for ensuring the quality of appraisal content developed by CoreLogic's in-house appraisers and its national panel of more than 14,000 independent appraisers.

BrokerPriceOpinion.com, a provider of customized valuation solutions, has launched its new Professional Property Inspection report, which incorporates detailed home information from an automated valuation model (AVM). The report also includes verification of the physical condition of the property and full photo documentation, and meets the new federal interagency appraisal and valuation guidelines that went into effect April 1.

Pro Teck Valuation Services announced the availability of customized appraisal reviews via AppraisalCheck, its suite of desk and field review products for the repurchase market. AppaisalCheck identifies appraisal fraud, errors, and misrepresentations. The company says it has seen a growing need for retro forensic reviews to determine whether there is any culpability on behalf of the originator.

With foreclosure sales steadily rising, four states are concerned that the use of the foreclosure sale prices in appraisals of neighboring homes is distorting the market. Legislators in Illinois, Nevada, and Missouri have all proposed separate bills that would exclude or restrict foreclosure sales from being used as comparisons to determine the value of homes around them. Maryland had proposed a similar bill, but withdrew the legislation on Tuesday.