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 firstname.lastname@example.org for more information.