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February 2018

MD2017

Michael Dresden
President
Dart Appraisal 

Hello everyone. For this month's issue of Dart Board, I wanted to share a new feature on our website, as well as give you an update on our staff appraiser recruiting efforts.

National Turn Time Map. Dart aims to be a consistent, reliable partner for all of our lender clients. One of the most impactful ways we establish strong partnerships is through our commitment to transparency. In keeping with that focus on transparency, we are now publishing our national turn time averages on our website. This map shows our average turn time, in business days, for areas where we delivered orders in the previous month. Please note these averages are representative of our overall business, and a particular client's activity may vary slightly from the average. Dart will update this national turn time map on a monthly basis, shortly after the first of each month. If you have any questions about our turn time map, please don't hesitate to contact me.

Staff Appraisers. Last year, Dart began bringing on staff appraisers in key markets where turn times have posed a problem for other AMCs. Staff appraisers allow us to provide better, more consistent turn times for our clients, along with a host of other benefits. Our Operations Team is continuously evaluating our order distribution to identify areas we should target for additional staff appraisers. We have a full-time team member dedicated to recruiting staff appraisers, and also host in-network recruiting events for both panel and staff appraisers. Just this month we've hosted events in Midland, Texas and Oklahoma City, Oklahoma.

Events. Conference season is starting to ramp up, and our team is looking forward to some informative, productive events this spring. Earlier this month we attended The Mortgage Collaborative's Winter Conference (Dart is one of the Collaborative's original preferred partners), which was a great place to exchange ideas with lenders and other vendors serving the industry. Up next for Dart is the Atlanta Mortgage Expo, followed by a trip to Charleston, South Carolina for the CRN Quarterly Meeting as well as Valuation Expo. Later in March, we'll be at MBA's National Technology in Mortgage Banking Conference in Detroit. Visit www.dartappraisal.com/events to view all upcoming Dart events.

25th Anniversary: Products. As I mentioned in last month's issue, I'll be including a topic in each edition of Dart Board that shares some of our company history as part of Dart's 25th anniversary celebration. For this month, I wanted to talk about products.

As an AMC providing residential appraisal services, it's probably no surprise that the bulk of Dart's early orders were traditional residential appraisal products such as Form 1004. (Although those 1004s had real photos taped onto them and were delivered to our clients via FedEx!) In 2007, 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).

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:

  • Streamlined Appraisal
    Completed by a credentialed appraiser, this report includes a physical inspection of the property's exterior (which is done by a home inspector), as well as comparable photos and price trend information for the property and local market. (View a sample Streamlined Appraisal report)

 

  • Executive Value Report (EVR)
    Dart's EVR delivers comprehensive property details, including its sales history and a suitability score. Lenders will also receive an understanding of the local market, as well as a three-year value forecast for both the subject property and the market environment. The EVR can also be combined with a Property Condition Report (PCR). Learn more about the EVR.

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. If you have any questions about any of these products, or want to learn more about Dart in general, please don't hesitate to contact us.

As always, if there is anything we can do to assist you, please don't hesitate to contact me at michael@dartappraisal.com.

Thank you,


Michael Dresden
President
Dart Appraisal