Quality Control
Real estate finance is complicated, thereby creating the need to validate much of the information required to make a loan. The lenders requirement to verify the quality of the loan documents continues beyond loan origination. These prudent practices have to protect the lender and investor while meeting the regulatory requirements of our industry.
We've helped our clients throughout the quality control process with collateral valuation. Our products and services will provide your firm the additional validation needed in assessing residential appraisals. We can provide standard review products or develop a specific program to match the specific needs of our clients' business.
Origination
Simply stated, our business model does not allow our clients' staff to choose a specific appraiser to complete a valuation. This isolates the appraisal order process from any influence and serves to ensure that appraisals are prepared with proper independence. Not only does our model currently adhere to the strictest industry guidelines, it is in compliance with the Home Valuation Code of Conduct.
Wholesale/Correspondent
Third party origination presents unique challenges to wholesale and correspondent lenders. Their goal is to underwrite and fund loans efficiently, while having the proper safeguards in place. We provide review valuations in a timeframe that allows our clients to render credit decisions within their promised time to broker clients. Our Enhanced Desk Review, which provides additional market data including two new comparables, is typically delivered within 24 hours.
Post Funding Audits
Lenders are required to develop and implement post closing and scheduled quality control programs for their production. Field reviews, retrospective valuations and forensic analysis of appraisals are only part of the vast product offerings we have to assist in the audit process. We also provide lenders with guidance in developing written plans to facilitate pre/post-funding policy on collateral valuation.
