First American eAppraiseIT, Poway, Calif., has enhanced its selection of valuation services to meet the growing needs of default servicers.
The company says it has streamlined pricing structures, realigned staff resources, expanded key product offerings and established a real estate owned (REO)-specific appraiser subpanel that provides automatic priority assignment to appraisers best suited for REO property valuations. Training sessions focused on tools and best practices for providing the highest-quality appraisals for REO clients were recently held with members of the REO subpanel, which now includes more than 2,000 appraisers nationwide.
"We have put the full weight of our core product selection, technology, valuation expertise and added staff members behind creating default-specific solutions for servicers," says Don Dobson, chief operating officer at First American eAppraiseIT.
"Our solutions now include both traditional and nontraditional/proprietary alternatives that cover the entire default cycle without sacrificing our industry-best turn times on valuations or the accuracy of our results," he adds.
Clients who utilize traditional exterior and interior appraisals for default processes can benefit from a well developed quality control review process and competitive average turn times, the company says. Order and delivery options have been expanded, including established interfaces with various platforms and portals, as well as the ability to transmit files with key data fields from completed reports to feed into source systems.
Of particular interest to default clients is First American eAppraiseIT's Value Reconciliation Report (VRR), where disparate valuations for a given property are reconciled and an independent opinion of best value is provided. Key features of VRR include the ability to customize the process/content, rapid turn times and a low cost per report, the company notes.