Tag Archives: Appraisals

A new exterior property value analysis tool called REALcondition Report from PLATINUMdata Solutions is designed to assist lenders in complying with the new Interagency Appraisal and Evaluation Guidelines. While automated valuation models (AVMs) on their own do not address property condition - since that requires an actual visit to the physical property - REALcondition Report is based on an in-person exterior assessment.

Coester Appraisal Group, a Maryland-based appraisal management company, recently hired two new executives. Haroon Khalid is the company's new chief developer, and Joseph Bryant will serve as national sales director. According to a statement from the company, the hires were part of a plan to grow the business and elevate appraisal industry standards.

After declining for two months, pending sales of existing homes unexpectedly increased in February, the National Association of Realtors reports. The trade group's pending home sales index rose 2.1 percent compared to January but remains 8.2 percent below February 2010. The index reading for last month was 90.8. A reading of 100 indicates a healthy level of sales activity. The last time the pending sale index registered above the 100 mark was in April 2010 when homebuyers were rushing to sign contracts before the homebuyer tax credit deadline.

Existing-home sales fell in February following three straight monthly increases, according to data released by the National Association of Realtors (NAR) Monday. Sales of previously owned homes dropped 9.6 percent last month to an annual rate of 4.88 million. The latest figures came in much lower than analysts were expecting. NAR attributed the February results to the twin headwinds of tight credit and appraisal problems that resulted in contract cancellations. Distressed homes accounted for nearly 40 percent of the pre-owned sales volume in February.

Solidifi U.S. announced this week the completion of an internal audit to ensure the company meets or exceeds financial regulatory reform. The company based its audit on the demands of the now-sunset Home Valuation Code of Conduct (HVCC), the Federal Housing Administration's (FHA) appraiser independence guidelines, the requirements of the Dodd-Frank Act and its supporting interim final rules, and revisions to regulators' interagency guidelines.

Veros Real Estate Solutions has expanded its third-party product offering through VeroSELECT with an intelligent automated valuation model (iAVM) from IntelliReal. The platform is designed to route and return AVMs and other forms of valuation products with secure management of vendors, users, products, and services.

DataQuick, an independent provider of real estate information, analysis, and solutions, now offers lenders and servicers access to Home Value Explorer (HVE) through the company's Collateral Validation solution. Access to this Freddie Mac automated valuation model (AVM) is part of DataQuick's collateral risk management platform.

Collateral Analytics, a provider of automated valuation models (AVMs) and real estate analytic tools for the mortgage lending industry, and Valuation Partners, a national real estate valuations provider, recently announced a partnership venture. The move will improve Valuation Partners' current hybrid valuation solutions, according to a statement from the companies.

DRI Management Systems, Inc., a provider of default process management software, added new functionality with several new modules to version 1.4 of its flagship technology. Officially relabeled DRI Office, the platform was previously known by its development code name, Rincon. According to DRI, the new version was created to relieve mortgage servicers' workloads and improve results with capacity planning, workflow tracking, services ordering, and enhanced communication capabilities.

Coester Appraisal Group, a nationwide appraisal management company based in Maryland, announced the appraisal industry's first smart phone application last week. The free application, currently in beta testing and available later this year, connects Coester Appraisal Group with staff, contracted appraisers, and its lender and broker clients.