A new service that provides mortgage servicers and investors with critical valuation information to supplement a broker price opinion or appraisal has been launched by Real Property Decisions.
The Default Reconciliation Report provides an improved level of valuation diligence for nonperforming and REO assets in order to help residential property servicers and investors make confident acquisition, pricing and disposition decisions.
“This innovative new valuation analysis service is powered by a unique combination of geographically optimized third party data and desktop appraiser expertise,” said Eric Taylor, president of Real Property Decisions in a press release. “It delivers an accurate and defensible means for residential property servicers and investors to make better acquisition, pricing and disposition decisions.”
Through the new report, desktop value reconciliations are performed against two client-supplied baseline property valuations, which may include any combination of listing BPO or real restate appraisals. Two additional automated data sets are also incorporated into the analysis including an Intelligent Valuation Report and an advanced property rental report from Westminster, Colo.-based RentRage.
Real Property Decisions said these additions to the report bring new knowledge to the appraiser and the end user, therefore “bridging the information gap” present in traditional valuation products.
Additional features of the report includes a narrative analysis of up to four automated valuation reports, identification of positive and negative factors affecting value and marketability, a rehabilitation cost estimate review and an owner-occupied versus investor target audience determination. The new valuation report also recommends listing and sales strategy, such as whether the property should be classified as-is, repaired or as an occupied rental option and provides appraiser market value estimates for a quick sale and standard marketing time value costs.
According to the Lexington, Ky.-based provider of property data and analytics to mortgage lenders, servicers and investors, benefits from enhanced and unbiased valuation practices include better informed workout and acquisition choices, optimized pricing strategies, reduced property marketing times, lower associated carry costs and the ability to recapture unrealized proceeds left on the table at the time of disposition.
“This product effectively leverages the core competencies of state licensed and certified real estate appraisers, thus minimizing the reliance on individual brokers and asset managers to make crucial financial business decisions,” Real Property Decisions said.
The Default Reconciliation Report services are available throughout the country. The company’s partner Valligent, Roseville, Calif., which has over 25 years of experience in the areas of residential valuation and collateral risk management solutions including appraisal review, alternative valuation, loan pool reconciliation tie-out services and appraisal underwriting, will perform the valuations.
