Zaio Corp. has developed a new appraisal solution called GEAR AP (GeoScore Evaluation/Appraisal Report) that meets interagency guidelines and Uniform Standards of Professional Appraisal Practice (USPAP) requirements.
Built from the ground up leveraging Zaio's patented GeoScoring methodology and Valytics platform, GEAR ‘is a culmination of our long-term strategy to leverage our patented GeoScore data, platform technologies and nationwide appraisal services to create innovative, cost-effective valuation solutions,’ says Dave King, president and CEO of Zaio Corp., in a release.
The new product also leverages Valuation Vision's valuation technology and management platform. Zaio holds a majority stake in Valuation Vision.
‘This all dovetails with the acquisition strategies of Valuation Vision and AXIS Appraisal Management to meet the increasing demand for alternative appraisal products,’ King says.
As per the release, GEAR AP reports are available both as a desktop or exterior inspected product, and are generally more cost-effective than a traditional appraisal.
Much like an appraisal, the local appraiser performing the valuation provides the exterior inspection. The appraiser utilizes Valytics to analyze comparables and complete the final report. The final valuation report is designed to address the growing demand for HELOC, servicing, securitization and other applications as outlined in the 2010 interagency guidelines.
GEAR is the first in a series of products designed and developed jointly leveraging Valuation Vision's proprietary order management platform.
‘The new suite of GEAR products are a natural progression for V2 and our collaborative approach to valuation,’ says Shane Copeland, CEO of Valuation Vision. ‘It is and has always been our goal to design, build and produce valuation products that lead the industry forward. GEAR is a great example of blending elegant design, excellent client and vendor experience with an end value that is very well supported.’
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