PAST
As an AMC providing residential appraisal services, it’s probably no surprise that the bulk of Dart’s orders were traditional residential appraisal products such as Form 1004. In 2010, we started working with a HUD Asset Manager which led to upwards of 30,000 HUD REO FHA orders per year. Dart also offered clients alternate products such as AVMs and BPOs, but our main focus was full products (both conventional and FHA).
PRESENT
While the majority of our volume is still comprised of traditional products, including HUD REO FHA orders, we have continued to expand our product offerings to meet demand. On top of AVMs and BPOs, we offer some truly unique products including:
Executive Value Report (EVR)
Delivers comprehensive property details, including sales history and a suitability score, ranking the subject property against its 10 closest, algorithmically selected comparables. The EVR also includes a three-year value forecase for both the subject property and the market environment. AVMs, giving lenders a simple way to select the most suitable AVM for every property.
Property Condition Report (PCR)
Ensure the property is in typical condition for the neighborhood, especially after a disaster or long-term vacancy. Dart's PCR includes external photographs, and can be combined with an EVR or AVM.
Streamline Appraisal
Completed by a credentialed appraiser, this report includes a physical inspection of the property's exterior (done by a home inspector), as well as comparable photos and price trend information for the property and local market.
Streamline Evaluation
Combines physical inspection (done by a home inspector) and a third party algorithm driven report to provide a value opinion.
Desktop Appraisal
Appraisal of limited scope completed by a licensed appraiser, without a physical inspection of the subject property.
Custom
Dart also works with our clients on custom products, including retro reviews, research projects for legal matters, standard review work and even creating new or hybrid report types.
FUTURE
The lending environment is constantly changing, and the market place has identified needs beyond/in addition to a traditional appraisal when it comes to valuations. At Dart, we’re always striving to offer the most unique and efficient products that meet our partners’ needs. We will continue to add valuable new products in the months and years to come. As part of our commitment to provide truly custom solutions, parts of our process are able to be provided a la carte.