Valuation Providers Partner for Vacant Land Service
Kirchmeyer & Associates and Valligent have combined resources to offer a new service to provide valuations of vacant residential property lots.
The ParcelView service combines automated valuation models and appraiser-reviewed valuation services that Valligent, and the Kirchmeyer subsidiary Real Info provide to mortgage lenders, servicers, insurers and the secondary market. (Valligent is based in Roseville, Calif., Kirchmeyer in New York.)
ParcelView reports are produced by certified or licensed appraisers and inspections are completed by trained local analysts who review the feasibility of residential construction and marketability. The companies claim their service can save lenders up to 50% over the cost of traditional vacant land appraisals and are more accurate because they combine automated tools in the report. The report includes street-level photos, comparable sales and local market data.
Bradford Updates Software for Exterior Appraisal Reports
Bradford Technologies updated its CompCruncher software with new analytics. The San Jose, Calif.-based company says the updates improve the accuracy of computer-aided appraisal reports.
CompCruncher incorporates valuation modeling technology with an exterior property inspection to produce an appraiser-generated report, which the company says is an alternative to traditional appraisals and more accurate than broker price opinions.
Bradford said a number of appraisal companies, including Forsythe Appraisals, Valocity, ZDS Zone Data Systems, C&D Appraisal and Review, IRR Residential, Western Valuation, Urban Lending Solutions will begin training their appraisers so they can offer the new reports to lender and servicer clients.
REO.com Gets a Facelift
Sorrento Capital, an Irvine, Calif.-based private asset management firm, and owner of the domain name REO.com, has relaunched the site, offering a consumer-facing marketplace for real estate owned property sales.
Both government-sponsored enterprises have a stated preference to sell their REO inventory to owner-occupants. The new site targets those prospective buyers with online auction technology from Zetabid, of which Sorrento is the majority shareholder.
Global DMS Platform Adds Tech Providers
A group of 10 technology providers are onboard to provide access to the software through the Global DMS OasisOne platform.
OasisOne is Lansdale, Pa.-based Global DMS’ online service that allows lenders to access multiple pieces of software through one point of entry. In addition to the OasisOne connectivity, the service providers are adjusting their software for optimization on non-desktop devices, like tablet computers.
LOS Provider Updates Doc Software
Mortgage Builder Software of Southfield, Mich., released an update to its electronic document management software. The company is a loan origination software provider, but also has a paperless disclosure document offering that allows lenders to generate documents without leaving the LOS environment.
The offering can be customized to meet specific loan and investor requirements. In addition, Mortgage Builder Software says its product reduces costs and improves efficiency and is secured compared to paper-based processes.
