Tag Archives: Appraisals

PCV Murcor recently celebrated its 30th anniversary. The company develops appraisal order-tracking system technology. PCV Murcor, owned and operating by an MAI-designated appraiser, is known for its technology, such as geo-coding and the advanced electronic assignment system. The firm's sister company Vendor Resource Management, which provides REO disposition and loss mitigation services, celebrates five years in business this year.

Platinum Data Solutions, a California-based provider of comprehensive appraisal review and collateral valuation technologies, appointed Ray Petta as a consultant focusing on brand building and business development. Petta is responsible for developing strategies that increase brand awareness and market share and overseeing their implementation.

JVI Appraisal Division LLC recently announced that long-time appraiser and real estate economist Bill Pittenger has joined the company as president. Pittenger will also hold the title of the firm's chief economist. He brings four decades of experience in real estate, valuation, economic analysis, and forecasting to the JVI team. Earlier in his career, Pittenger held senior appraiser positions at two of the nation's federal banking agencies.

Oklahoma-headquartered a la mode, a developer of desktop, mobile, and Web tools for the real estate and mortgage industries, is expanding its Mercury Network vendor management platform (VMP) to offer broker price opinions (BPOs). Mercury Network is an online VMP, allowing lenders and appraisal management companies to manage appraisals nationwide.

Federal regulators have amended their interagency appraisal and evaluation guidelines for real estate transactions, and confusion has set in. According to Pro Teck Valuation Services, the 70 pages of hard-to-decipher rules and conditions have led industry participants to ask the following question more than anything else: What can I use to replace broker price opinions (BPOs)? Pro Teck says it has two products in production and available to clients today that meet the new interagency requirements.

Real Info, Inc., a national technology provider of real estate data and automated valuation models (AVMs), is offering AVMs with property condition reports designed to meet new regulatory appraisal and evaluation guidelines. Real Info contracted with Safeguard Properties, the nation's largest privately held mortgage field services company, to provide third party condition inspection reporting with full photo documentation.

Veros, a provider of collateral valuation technology, enterprise risk management, and predictive analytics, recently released a white paper titled ""Interagency Appraisal & Evaluation Guidelines: Insights into Understanding and Integrating the New Guidance."" The white paper seeks to clarify the expanded language in the guidelines issued by federal regulators last December.

BrokerPriceOpinion.com recently named Michael Richardson as president. Richardson will manage the day-to-day national operations of the company, which develops Web-based BPOs, appraisals, and automated valuation models to streamline the valuation process. Richardson brings more than 25 years of experience in the mortgage and real estate industries to BrokerPriceOpinion.com.

CoreLogic has introduced a new commercial property evaluation service that utilizes more than 7,500 real estate brokers and contract appraisers to provide commercial valuations for lenders, investors, and special servicers. CoreLogic says its system allows users to quickly determine the current market rent for properties more cost effectively than formal commercial real estate appraisals. The new service can deliver a valuation in 10 business days on average, and users can order and track valuations online 24/7.

First Lenders Data, Inc. (FLDI) has announced the availability of FirstClose, a single-point dashboard that aggregates nationally recognized vendors and service providers online. The new solution assists mortgage lenders in complying with the new interagency regulatory appraisal and evaluation guidelines that became effective December 2010. FirstClose combines the company's existing automated valuation models (AVMs) with its Property Condition Report and AVM back-testing.