FIS Releases HQ Certified Valuation

Posted by Orb Staff on October 11, 2007 No Comments
Categories : Residential Mortgage

Jacksonville, Fla.-based Fidelity National Information Services Inc. (FIS) has rolled out FIS Valuation Solutions' HQ Certified Valuation, an end-to-end appraisal solution that combines speed, accuracy and economical cost to satisfy the valuation needs of loan originators, servicers and capital markets firms.

In addition, HQ Certified Valuation closes any potential fraud gaps in the valuation process, because in-house appraisers make the valuation without any mortgage broker contact, the company says. The rollout will originate from the Southern California region, followed by subsequent rollouts beginning in the first quarter of 2008.

The HQ Certified Valuation report consists of three basic components: the initial property valuation summary report, the in-house real estate appraiser analysis, and the interior and exterior subject property inspection. It is comparable to a typical appraisal process, but includes the added benefits of superior appraiser qualifications, extensive research databases, competitive cost and product backing.

After the initial valuation summary data is gathered for the subject property, FIS Valuation Solutions assesses the in-house real estate appraiser analysis and the physical inspection findings to develop a comprehensive appraisal report that determines a single point of value for the property.

Additionally, the HQ Certified Valuation report is completed by a licensed real estate appraiser on traditional Fannie Mae/Freddie Mac appraisal forms. The report includes the appropriate scope of work for standardization and consistency, and is FIRREA- and USPAP-compliant.

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