CoreLogic Debuts Alternative Valuation Tool

Posted by Orb Staff on February 16, 2012 No Comments
Categories : FYI

Santa Ana, Calif.-based CoreLogic has released a data-enhanced, appraiser-certified evaluation tool to help mortgage lenders and servicers address new requirements issued in the 2010 Interagency Appraisal and Evaluation Guidelines (IAG).

According to the company, the new Residential Evaluation Report provides an alternative for federally related mortgage transactions in instances where the IAG permits utilizing something less than a full appraisal but requires more than a broker price opinion (BPO) or automated valuation model (AVM). The Residential Evaluation provides six perspectives to arrive at the property's estimated market value, including a certified evaluation of property value with an appraiser's opinion of value, a summary BPO, two AVMs and two indicated value approaches.

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