New Site Offers Links to REO Appraisers

A website that links lenders and servicers with appraisers specializing in real-estate-owned properties has been launched by O.L. Jernigan and Associates, a Dallas company that specializes in REO appraisals.The site, REOBank.com, offers a network of more than 9,000 appraisers with REO expertise, acting as a hub that connects lenders and servicers seeking appraisals, broker price opinions, and other REO-related services. It allows lenders and servicers to outsource their appraisal needs, since they can quickly locate the right appraiser for the job and get their project completed in days, rather than weeks, the company said. "Accuracy and speed are the two highest priorities for REOBank.com users," Mr. Jernigan said. "We know that our users need valuations they can depend on, and they need them quickly in order to minimize holding time." REOBank.com also features communications and tracking functions that allow lenders and servicers to track the progress of their projects in real time. The site can be found online at http://www.reobank.com.