WALTHAM, Mass., Feb. 17, 2011 /PRNewswire/ -- The Interagency Appraisal and Evaluation Guidelines have changed, and confusion has set in. 70 pages of hard to decipher new requirements have led to the following question being asked more than anything else.
"What can I use to replace BPOs?"
The Guidelines state that in lieu of appraisal for certain transactions, an evaluation based on analytical methods or technological tools can be used as long as the property's actual physical condition is addressed.
Fortunately, Pro Teck Valuation Services has two products, ValueFocus Condition AVM and
CollateralPoint Field that meet Interagency Guideline requirements.
ValueFocus is an AVM with Site Inspection, delivering property condition elements into the value result. The combination of an AVM with a subject property condition report is a cost efficient solution to meet today's valuation requirements.
CollateralPoint is Pro Teck's proprietary valuation tool. CollateralPoint Field weighs comprehensive collateral, market demographic and economic data and then utilizes multiple, industry-accepted valuation methods and a site inspection that are reviewed, filtered and adjusted by an appraiser. CollateralPoint Field is appropriate when an appraiser is needed to ensure the most accurate valuation.
These two products are in production and available for your use today. Call your Pro Teck sales representative or email [email protected] for more information.
About Pro Teck:
Pro Teck Valuation Services is a national provider of residential real estate valuations. With a sharp focus on data accuracy and customer service we deliver customized risk management solutions for funding, investing, servicing and secondary market requirements. Please visit us at www.protk.com.