New Liquidation Valuation Report Created for Servicers and AMCs
StreetLinks Lender Solutions has launched a new appraisal valuation tool that can be used by mortgage servicers and asset management firms.
The Indianapolis-based provider said the StreetLinks LVR, a liquidation valuation report, is compliant with the Uniform Standards of Professional Appraisal Practice.
The purpose of the tool is to provide servicers and asset management companies with the right type of valuation when they analyze their pool of loans, sell distressed assets or charge off a loan balance.
“StreetLinks LVR is a versatile servicing tool that can provide relevant data to multiple sectors of the industry, from foreclosure bids to REO sales predictions and initial sales listing price,” said Ric Holder, director of the mortgage services division at StreetLinks. “We're excited to put a much needed sense of confidence behind such appraisal values.”
Licensed appraisers employed by StreetLinks will determine the scores of the liquidation valuation reports using an appraisal-based methodology that is based on property condition, comparables and local market trends in order to provide an objective analysis of the liquidation price around a 90-day marketing window.
The score results will come from an analysis of MLS computer photos as well as a drive-by photo or interior inspection of the property.
“Lenders use objective analysis to make a financial decision when funding loans—the same is used during servicing and default,” Holder said. “A transaction's ultimate financial decision requires an accurate and reliable value, which StreetLinks and the appraiser will stand behind.”