Posts Tagged ‘ appraisal changes ’

How to Handle a Low Appraisal – Brian Coester – CoesterVMS – Video and Transcript

March 19th, 2018
This Episode of Coest2Coest we had Chief Compliance Officer and Former State Regulator Toni Bright. Toni was fortunate enough to share some tips on how to handle the appraisal rebuttal process in the most efficient manner.

Coest2Coest – TranscriptBrian Coester: Yeah, I was in California all week visiting customers all across the west coast and a lot of these guys, you know, they get a job at a branch or their, this is their second job there, 25, maybe 35 years old, um, and there are new to the mortgage industry and they get an appraisal. They have been spending six months trying to court this realtor to give them their first purchase and they sent an appraisal in and boom, the appraisal doesn’t come in value. Okay. So obviously it’s such a small percentage of deals that it usually, it’s a pretty big deal when it happens. Obviously, nobody’s in the business of just like, we’re not in the business of throwing values. We’re definitely not in the business of killing deals. Um, you know, but at the same time, you know, a lot of times is a mortgage originator. You’re frustrated, I don’t know how to appeal this. I don’t know what to do. So what does a mortgage originator give them some points, um, to help them during this process of talking, what should they say to the realtor? What should they say to the bar where you know, what should they say the other AMC or appraisal desk?

Toni Bright: Absolutely, and it is a frustration and it is a, a huge aggravation when you are on the other side because you understand, appraisal is an opinion of value, right? So as a regulator I thought you’d never recorded come in over a $30,000 difference on about a $200,000 house and I thought Oh, one of these has to be wrong and you know what? Faith on the support given reports would seemed to be a credible report because you’ll know that there’s that much difference because each supported their value properly with all information that was necessary on the federal level. Now fast forward, if you get one of those, if you are, again, it’s making sure that you are looking at back and there is a difference between what someone is willing to pay and when a home his truly work.

Fritz: Right. Excellent Point.

Toni Bright: is all fine as an extremely emotional experience and we all think that what we are buying is the very best out there and we want everyone else to say it’s the dream home that they’ve always wanted, highly emotional, and as a result we ask the professionals, when we’re out a mortgage broker, a real estate agent, the appraisal management company, we have to maintain that professionalism and try our best to take the emotion out of it for ourselves. We have to acknowledge the fact that our quiet, the fire, the borrower, the recent answer, that they are frustrated that their hearts and so we have look at it from the fact and so we have to say, you know, Miss Mr bottleworks comments work more, but I won’t say who has a good real estate agent in a hot market. You are prepping your home buyer that there is a chance that they’re purchasing a home above value above, above purchase price. Excuse me, above purchase price. There’s a chance that the value ends up appraisal report. The opinion and how you may not come in to what they’re paying for it. I think that has a real estate agent. You have a due diligence to look to just tell your clients there is a chance that could happened because this is a hot market, whatever, but in the event that that happens.

Brian Coester: It was a real chance that could happen. Yeah.

Toni Bright: absolutely, and I think that it’s important to everyone from of the power point, that potential situation because then if it happens so you can go back, say, remember we had this discussion, this is now what we have to do and in in what they have to do is they have to look at at the market it legitimately, realistically as the professional and say, are there other homes out there in this area that could potentially be comparable, that could be used and they can’t submit a reconsideration, a reconsideration for other things, perhaps the square footage, they can go wrong. There is nothing in federal law. This has an appraiser cannot correct and appraisal report for air. However, no one under federal law has a 40 permission. Anything to actually demand that and a appraiser change the value or any other, any other opinion of their report. So as a result, it’s different. Very fine line. You have to deal with fat, you have to make requests to say, can you please explain why x wouldn’t use for, um, you know, could you use props? There’s, as a comparable options.

Brian Coester: So I always thought like when it comes to, to your point, right? So you’re a state regulator, you get a complaint, you get a value at 200,000 and a value to 20, you think one of these must be, right? Right. And then that is sort of like everyone’s first opinion and then you realize after doing it for awhile, well actually both seem sort of right in their own process. And as you know, obviously if you’re buying a house and the difference between 200, 220 is the, you know, the higher opinion, um, you know, it can be frustrating, but at the same time, you know, respecting the process is important in the sense of, of um, you know, those opinions are valuable right now. What do I need to put together on my side or the fans to make sure that when I do come back or, or, or if I do want to go back to my lender or realtor or appraisal management company or praise or what should I put together knowing that, um, it’s an opinion to try and say, hey, you know, I think the 220 all though the 200 is still correct. I think the 220 is correct or um, and would like to, to either change the appraisal or um, use that one per se.

Toni Bright: First of all, with what I would see him at the state level. It was often for refinance situation if that was the case where you had one that we’ve done a couple years before and it was higher than the current one or vice versa. But in this situation change occasionally on a purchase, we would see that kind of a situation where they work on play dot. It really is me as an ASC cannot make that decision. If they choose to order an appraisal that is letter division and they have to make, we cannot in any way encourage that because it less there has been a true the appraisals done in the first one as we know that there have been standards violated it upgrader which happened so. So once I as my youth percentage, I mean it’s not even a half a percent where that kinds of thing happened.

Fritz: Yeah Exceptional.

Toni Bright: Yeah. I mean that’s. So we will not get involved in that situation. I’ll be half my power with our client wants to come to us and asked them if they feel that with slow, we’re more than happy to walk them through a value reconsideration process. Every pool management company handles those differently. We have a process in place that protect us and our lender clients. The attempt of undue influence on an appraiser. We certainly tried to make sure that that never happens up. We don’t want that to happen. We want the true. I’m biased. Opinion of value to be rendered by our appraisers and see results. I’m principal at an earlier and it is very, very true and appraiser can say no to an assignment up until the day that they’re completely done with that assignment and they filed it higher appraisal, no one file if any point, feel pressured in any way.

They have the legal right to walk away so you never want to make an appraisers feel as if they are being pressured for that you are making an ultimatum or that you’re threatening them in any way and I processes are designed to protest on Friday to protect on lender clients and be able to walk them through that process. We also only allows one lender, clients appraisals, reconsideration request. No. There might be other revision requests that come in that has to be dealt with on a. We only allow the lender to submit a reconsideration of values with additional information and so definitely we have some great market leader as a great relationship managers of walk our clients through how to do that if they don’t know how to do it or if they have never used before.

Brian Coester: Yeah, and that’s always been a tough. Now Fritz, you have dealt with this in a completely different capacity because she’s been on an underwriter or a process or originator, you know, all of that in between and you know, and then on this side, you mean these come to your office, you know, every day. So, so what have you seen be effective and not effective in this?

Fritz: So the most important thing, um, that you need to do if you’re doing a reconsideration is first of all, respect the fact that you only get one of these and understand what that means because people tend to, when they have one shot at doing something, they tend to take a lot more seriously than if they get to just go over and over and over and over. Okay? So the reason you have only one shot, one chance is because past that it starts, it becomes an issue of, well, when do you cut this off? What do you say? Enough’s enough, right? Because you’re not supposed to be trying to influence the appraiser in any specific way, but if you’re coming back to him over and over and over again on the same report with new comps every, you know, every week, that’s a clear attempt to influence, right?

So you only get one shot. Make sure that you’re looking at the data that you’re submitting. Make sure that, first of all, make sure the data that you’re submitting is accurate. That’s the first thing. And also make sure it’s appropriate if the subject property you have is a thousand square feet of a sale, that even if it’s down the street that’s 2000 square feet and Goa is not a comparable sale. Okay. So you know, know that and know that if the appraiser sees that and sees that giant Berenson gala is going to dismiss that, he’s going to dismiss that as, that’s why I didn’t use it. You know, it’s interesting, for instance, to that point.

Brian Coester: the number of times, like I was doing appraisals in Virginia and I was doing a condo in Virginia. Nice condo. Ah, actually, yeah. Nice condo. And, you know, I had four or five sales in the project in Virginia that would look just like it and the value came in low. And so the person goes to another building in DC says, hey, use these three, right? Just think to yourself, well, I have three in the building, right? Right. Like I couldn’t use like, it’s comparable. So the most similar, you know, would, would, would get used not just the one that would hit the value and a lot of times and just sort of, you know, knowing this or when the other side of the fence, um, as an appraiser from my side, what I would do is on the mls software, when I start to do my data research to find me the comparables, I would actually remove the value element from the, uh, columns right on the spreadsheet so that it’s sort of like you got square footage, you got a picture of the house, you’ve got acreage, you’ve got, um, you know, garage, you’ve got lot size, you’ve got general characteristics and you got the photos. And I would go through those, narrow them down to 10 or 15 from the hundreds, right? Uh, in the market or in the general market, depending on, on how I was doing a search. And it’s amazing how close she would come in value. There would not be a big rain and I would use that as sort of like my baseline to say, okay, you know, this is a great way of starting that process, right? These are the houses that I feel like are similar, um, and really has nothing to do with value.

Fritz: Well, and, and, and the reason that that works.

Toni Bright: You forget your phone again, excuse me. You’re both very metropolitan areas and we forgive our Iowa oriented. Sometimes it’s in the midwestern areas where we have very rural.

Brian Coester:  That’s true. That’s true. True.

Toni Bright: Yeah.

FritzYeah. Every market is different and every market’s gonna have its own challenges. But when we got to wrap it up here in a minute, but, but here’s, here’s what I want to say, and this is the reason why I say that this is a, that’s a really a better way to approach it. And I would actually recommend that for appraisers. I, I hope that, I think that that’s the way most appraisers do it because if you’re looking at, you know, if you’re looking at what makes a comparable, the one thing that you’re not really going to look at as an appraiser is what the current value is or what the expected value is. Because that doesn’t matter. It’s the same bedroom count. Is it the same Gla? Is it the same age as it roughly the same finished construction quality. Okay. All of those other factors. That’s hard data that doesn’t change. Okay. The value changes depending on the market, the characteristics of the property do not change obviously, unless there’s a renovation or what have you. But. And that’s why when you start looking at this is why I say look at your data, focus on data. So that’s why you have to, to look at it in there.

Brian Coester: Absolutely. Absolutely. Yeah. And Tony, you still there? Nope, I think we’re disconnected actually. Sorry. No, it’s no problem. It was fantastic by the way. I mean, Tony, Tony’s always a great guest. She’s a great case and this is going to be great content for the blog to make sure that this. I’m going to call back in real quick while you’re, I’m gonna. Make sure this specific video gets uploaded.

Um, no, that was good. That was good. That was good.

Fritz: We’re still on Youtube, right? Yeah. No, we’re still alive. We’re still alive. We’ve got three people watching. Just let’s, let’s just wrap it up then for the youtube audience and we’ll deal with the blog stuff after the fact. But um, but yeah, this is the whole point of, of making the decision based on the data. Okay. And to your point, if an appraiser is approaching their comp selection in that way, you know that they’re getting the best comps because they’re looking at what’s relevant. Again, there is no emotion involved with how many bedrooms you’ve got.

Brian Coester and Fritz: Correct? Correct. And I think, uh, same can’t be said for the expectation of value, correct? Correct. Correct. And I think, you know, again, if I’m a lender, um, what I would do is really just focus on really looking at the appraisal. First of all, find an appraisal companythat that would work with your work with allied health. I mean you shouldn’t be on your own completely about this, but then also talk with the real utter, just setting realistic expectations as far as that it is a independent assessment that more normally than the appraiser is in the best interest of the bar or um, to have, uh, the appraiser is most accurate unbiased opinions. So we want to make sure that that’s really in the forefront, but then also realize that a very small percentage of these actually happen, so it’s less than three to five percent of purchases. So when it does happen, just realize it’s only every now and then and a lot of it’s market driven. So a lot of times you’re in a situation where the market is changing and it’s going to happen more consistently necessarily in your market or not at all because of the market conditions and it’s and its timeline. So it will be a period of three to six months to where it happens very frequently. And then for the next year, you might not have it happen at all because market conditions.

Fritz:  As he just, they’ve up, the data’s called, right, it’s caught up.

Brian Coester: in sometimes. And just last point, because I know we’ve got to wrap up, is that sometimes it’s a good thing and more often than not, we run in the purchases that, you know, there’s multiple offers. They’re way above the actual real value of that house. They’re just trying to get the contract in. So, uh, the appraisal coming in low is not always. And you’ve seen that, right?

Fritz: Oh sure. Absolutely. I mean, look, I’ll tell you right now, if I’m buying a property and the appraisal comes in low, I’m excited. That’s my opportunity to renegotiate myself a better deal. And that’s what borrowers and homeowners need to keep in mind. That’s particularly borrowers who are purchasing. Okay? Typically on a refi, you already own the property. You want it to have that higher value because that means you have a better equity position to better position a better rate usually. But if you’re doing a purchase, particularly if you’re the borrower or the realtor and you’re helping someone do a purchase on a property and the and the appraisal comes in low, you know, I understand you want to scrutinize that to make sure that it’s accurate, that’s fine, but that’s actually a benefit to your, to your borrower, because that means they’re gonna pay less for that, uh, for that property.

And more importantly, most importantly is you don’t want them overpaying for that home. Okay? You’re not going to get referrals if you’re the guy who’s over selling, if you’re putting, if you’re, you know, people are paying too much for the properties that you’re helping them purchase. You’re not gonna end up getting referrals because people are smart. They’re going to figure out that they overpaid for that property and they’re gonna figure it out really, really quickly. So it’s in everyone’s best interest to make sure that we’re dealing with what the data actually provides, what the market actually shows and look, in some cases that means like Brian said. So usually it’s minor. It’s usually about three to five percent because for the most part, you know, realtors know how to evaluate the market conditions and they understand where the market is and they, and they do a good job of setting pricing. Um, now that being said, yeah, about three to five percent you’re looking at a variants, but understand where, if that comes in low, it actually can be a benefit to you and to your borrower. It doesn’t necessarily have to be.

Brian Coester: Definitely. Well, thank you so much. <Unk>. I know we have had multiple issues. I think we’ve got it figured out, but we will be uploading a version of this on a youtube channel, shortened, uh, and then you can always watch it on a blog talk as well. So thank you so much.

Fritz: Well, no, we’ll just, we’ll see you guys next week. We got a lot of exciting guests coming up. I can’t wait and we’ll be putting out some more information on this upcoming year.

Boston, Massachusetts: Sales Prices Rise as Demand Surpasses Supply

July 5th, 2017

AppraiserSpotlightCoesterVMS-Sandra PendergastAppraiser Spotlight- Sandra Pendergast

Sandra has been an appraiser for the past 15 years, and primarily services the Boston metropolitan area. She decided to enter this field of work when she made a career change after gaining custody of her 2 grandsons. Over the years Sandra has worked through fluctuations in her market, and has seen the changes that have come as a result. Recently, the shortage of inventory in the Boston market has led to an increase in sale prices as bidding wars have driven prices up over the appraised value. In her spare time Sandra enjoys painting and writing, but has remained busy with work in her market. According to Sandra, the key to success as an appraiser is patience. The educational requirements of becoming an appraiser and trainee experience needed is a long process, and patience is essential.

Boston, Massachusetts Market

Sales prices reached new heights in January 2017 for the Boston metropolitan area as demand continues to outweigh supply. The average price for a single-family home increased 7% statewide to $342,500 compared to January of last year, as inventory remained low (The Warren Group). According to The Wall Street Journal, the median sales price for the Boston Market rose from $685,000 in 2015 to $791,000, while rent in the neighborhoods surrounding Fenway Park increased 2.5%. Though inventory is being added to the market, there is a shortage of affordable housing for middle and low income buyers. According to Boston Agent Magazine 80% of the new construction being added to the market is housing, but primarily in the form of luxury apartments and condos. This paired with bidding wars has driven prices up and out of reach for many low-income buyers.

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End of Year Note – What you need to know about appraisals in 2014

December 23rd, 2013

End of Year Note – What you need to know about appraisals in 2014

Every year I try to put together a note about the appraisal industry, what’s going on and what to look out for in the coming year. 2013 brought enough regulatory activity to spin the head of even the most seasoned compliance folk. And I don’t expect it to slow down any time soon. This year has been by far one of the most comprehensive as there’s been so many things going on. From AMC licensure requirements, CFPB rulings (and enforcement!), USPAP changes, state licenses, solar, UCDP and ULDD the list goes on and on. As the regulators and auditors draw closer, I’d like to give you my suggestions on how to prepare for 2014 and beyond.

  • Compliance
    • Compliance starts to get real, but won’t be in full force until 2015. Although many highly anticipated rules get implemented this year, but the regulators will need time to do their research. isn’t going to come to 2015 when they will have expected you to already have a dynamite process in place in regards to appraisal compliance, verification, review, delivery and scoring. Law firms, AMC’s and other third parties will certainly take advantage by selling through scare tactics. However, the reality is (the CFPB does not want to make a mockery of itself by chasing unsubstantiated cases and, in effect, becoming a hindrance to the market it is intended to preserve.  Prepare now by developing efficient processes, building strong vendor relationships, and sound analytics.  Don’t misunderstand me, we will witness enforcement this year, but the teeth will come out in 2015.)  You need to make the changes now and then be scared in 2015 that they are going to actually check then and verify everything thats taking place and suppose to take place. 
  • AMC State Licenses
    • An increasing number of states have implemented appraisal management licensing requirements at this point, a trend which will continue per Dodd-Frank requirements. Many states follow a similar formula with nearly identical verbiage on a variety of topics, but be mindful of key variances on appraiser payment, fee disclosure, and compliance manager qualifications.  A list of current state license requirements can be found on the appraisal institute website and located in the link below:
  • Customary and Reasonable Fees
    • This is something that has caused more confusion and yet it’s still a topic. How do you define customary and reasonable?  And if you can do that, are you authorized to do so?  Well, some states, like New Jersey, think they can and they did. This example, a public notice released in late 2012, mandates a range mortgage lenders charge for appraisal related fees.  The basis?   It’s “most recent” fee survey dating back to 2010. So what’s the issue? The information utilized to enact this stipulation is not only dated, but overly broad the fee is $350-$450 on all appraisals which makes no sense.  Averages at the state level, frankly, don’t work. The way I see it, there exist two options.  1) Allow appraisers to set their fees, and have the licensed entities monitor averages at the county level (at minimum, zip ideally), and report their findings to the state who will produce an annual fee tolerance by county 2) The Federal Government possesses more data on appraisal fees than any other entity on the planet.  If fee regulation is truly an objective, establishing a database of fees, annual (if not quarterly) schedule by county, and online reporting system would achieve it.  The fee is low and doesn’t make any sense but they set a fee. However in other areas this is very much still up for debate. I wrote a solution which can be found on my blog here. Our solution is to allow the appraisers to set their own fee and then keep it within a 10% median of what other appraisers set in the area.
  • Borrower Appraisal Delivery
    • Many lenders rely on their AMC partners to adhere with this requirement. Our team developed monitoring system that confirms borrower delivery and download. In the event the borrower fails to respond within a reasonable amount of time (manageable by account), or if the address bounces, client users can adjust the address and resend the original package directly from the site. Customizable analytics also afford compliance officers live details on delivery status.  For borrowers who don’t have an e-mail address were considering using a print shop to automatically redirect it and mail it however were not 100% sure as it would add cost and is it something that the market would be willing to pay for.
  • Joint Ventures and Third Party Interest  – If you own an AMC or have a partial interest as a lender
    • Sell it, sell your shares or close it. There’s about 500 reasons but the general rule is the CFPB doesn’t want you in anything but your main business so if you’re making money off of title, appraisals or anything else besides the standard loan fees I’d plan on not having that income for long. If you look at the big companies, like Wells and a few others, you can see they are disassembling and selling off their joint ventures and settlement service business channels. Theres a very good reason and I’d play close attention to this. The regulators want the appraisal and settlement processes completely independent and not a profit center at any level.
  • Maintaining an In House Process – If you have an In House process and want to maintain it
    • Hire a chief appraiser, make the office about 3 or 4 miles from your office, invest in a good software solution and let them run it. Get all your licenses and don’t plan on making a profit from it. You could just cover baseline expenses with this but I’d be careful about it, and you’re going to have to especially in disclosing this as a fee charged to the borrower. I’ve seen some in house processes done very well and you can actually do it right if that’s the road you want to go down; however you must plan to run these as completely independent entities.  Document all methods of correspondence between the two, and ensure your management teams understand one instance of influence in either direction can spell disaster. They want it totally separate and to run independently.
  • Get rid of your branch specific appraiser panel
    • This is very low on the totem poll for most regulators however it’s starting to happen but we’re beginning to hear rumblings already. They don’t like it and don’t want you involved. Branches, loan officers should have zero say and should not have an appraiser panel at any level. You can get away with a companywide approved appraiser list but the branch level is too close for comfort. Start the process of disassembling this in 2014 with the idea in 2015 its gone. I know why companies have them for branches and there’s some pros and cons but the spirit of things is totally independent and a branch specific approved list is a little too much con. If you choose to maintain an organization level panel, plan to employ at least one non production employee, possibly a team given the size of your organization, to work directly with your partners and regulators on valuation issues.
  • If your AMC doesn’t have its own software
    • Find out when they are going to build their own. The reality is the SaaS model for an AMC is just not going to work, in house I’m comfortable with it as you have direct control over business operations however when you look at it from a third party risk prospective it’s just too risky for me and my taste.
  • UCDP and ULDD Gets Real
    • We all know what the GSE’s are doing with your appraisal data. They’re storing, running analytics, and leveraging it then when they want a reason to push a buyback. They’re going to  possess the ability to run it against thousands of other appraisals and say “here’s 20 reasons why”. The reality is that the GSE’s have mass data on their side and with over 9 billion appraisals scanned by the GSE’s I’m sure they could come up with a pool of data that says your appraisal is wrong. It’s the definition of an unfair advantage, but you can take steps to level the playing field. In this case, the best defense is a good offense. Data and appraisal review analytics companies are working full force to beat them at their own game. Some are good, some aren’t worth it, the sell is “You’ve done everything you could.”  I’d rather have it so that you know you’re right. Our system doesn’t attempt to reinvent the wheel by creating arbitrary scoring metrics you likely won’t use for much more than a routing tool. It sticks to the basics by running against regulatory guidelines and investor overlays, utilizing market data to confirm support of variances.  Simple logic and hard data. It’s better than some analytics companies systems and definitely better than any other appraisal management company I just wished we had more data. 
  • USPAP Changes  – Just so you know
    • Conduct section of the Ethics Rule: The Conduct section requires that an appraiser disclose any current or prospective interest in the subject property and any services performed regarding the subject property in the past three years. The disclosure to the client occurs prior to or when discovered, as well as in the certification. In assignments where there is no report, only the initial disclosures to the client are required. There is no additional certification requirement.
    • Competency Rule: This requires that an appraiser be competent to perform the assignment, or acquire the necessary competency, or withdraw from the assignment. However, the Competency Rule does not expressly require the appraiser to act competently in the given assignment. The sentence “In all cases, the appraiser must perform competently when completing the assignment” will be added to the 2014-2015 USPAP.
  • Solar Electric  –
    • System will begin making a notable difference in values of homes. In areas like Colorado and Texas you’re already starting to see an influx the difference and we have enough data is out that to determine its going to start becoming a factor in all markets. The recurring issue with this which has always been the issue is that the cost of the improvements outweigh the benefits. $20,000 for a solar system that saves a few hundred yearly isn’t worth it for the average consumer. There’s some that think its worth it and do it anyway, typically for environmental reasons over financial benefit, but it hasn’t been adopted by the masses. The appraisal industry everything we deals with is in the mass market, so it’s important to realize that it takes some time for new technologies, especially high end ones like this, to have widespread effect. Take a little time and the industry is starting to finally recognize this. In 2015 you’ll see it really starting making a difference as solar will likely improve enough to power an entire house and the systems will be cheap enough to make it feasible for the common homeowner.
      • Also most of these systems are being leased as well on 20 year leases which they should extend to the life of the loan from my prospective as it would help eliminate a layer of risk.
  • Risky Mortgage Appraisal Documentation – You should be doing this anyway.
    • Six federal financial regulatory agencies issued a joint final rule on January 18 establishing new appraisal requirements for higher-risk mortgage loans. Mortgage loans secured by a consumer’s home with interest rates above a certain threshold are considered higher-risk under the Dodd-Frank Act. The new rule requires creditors making such loans to use a licensed or certified appraiser to prepare a written report based on a physical inspection of the property’s interior and mandates additional valuations, at no cost to the consumer, for a higher-risk mortgage loan if the seller acquired the property for a lower price during the previous six months. Since January, the agencies issued a proposed rule to amend various provisions of the rule.
  • Changes at CoesterVMS
    • We are really starting to build some steam on technology and operations and just putting the whole puzzle together. I’ve really never been more excited about what we are doing and what we have to offer to our customers.
      • Coming in 2014
        • AIR Product – Automated Appraisal Review with Artificial Intelligence Based Technology. This is going to be unbelievable and deserves a post by itself. I strongly believe that when its all said and done this will change the way appraisals are reviewed forever. It’s better then what Fannie has and better than what other companies have. It’s not close to being 100% done but the beta version is dynamite.
        • Reporting on every field of the appraisal.
        • Direct Deposit to Vendors – We are signing up our vendors now and going to start paying vendors in 5 days automatically.
        • Integrations and update to integrations
          • Encompass – Custom Update to Existing
          • Reverse Vision
          • BayDocs
          • RealEC – Custom Update to existing

If you have any question about anything please send me an e-mail at


Thank you –