StreetLinks National Appraisal Services says its proprietary ValueVault technology addresses Home Valuation Code of Conduct (HVCC) appraisal portability concerns.
The final version of the HVCC allows for appraisals to be transferred among lenders in an attempt to resolve appraisal portability issues in the first version of the HVCC. The ValueVault system archives each StreetLinks appraisal, enabling lenders, subsequent lenders and investors to access the original appraisal. Each appraisal includes the company's Certificate of Non-Influence and HVCC Compliance, which StreetLinks COO Tony Ebeyer says satisfies the HVCC's written assurance requirement.
The online, secured storage mechanism "eliminates time delays or reliance on lenders to physically transport appraisals between departments and companies," notes CEO Steve Haslam. "Mortgage brokers and correspondent bankers will be able to serve customers better by avoiding appraisal transport delays between lenders, and lenders will not incur the added expense of managing appraisal portability.’
SOURCE: StreetLinks