HistoryPro Review® quickly and economically examines an existing appraisal to determine its overall validity. With the implementation of the Home Valuation Code of Conduct (HVCC), HistoryPro Review is being used nationwide by lenders to validate appraisals and reject those in question.
When originating a loan, an accurate appraisal is critical to ensuring a clean, low risk transaction. HistoryPro Review provides a vital check of the initial appraisal by reviewing the comps used in the appraisal and examining the subject property itself. By comparing the appraisal comps and subject property information against extensive internal databases, maps and collateral risk models, HistoryPro Review renders an overall quality judgment on the appraisal and underlying transaction risk.
HistoryPro Review returns a hit rate of greater than 90 percent, while consistently producing results traditionally available only through traditional desk reviews. The results provide a comprehensive view of the collateral and the market area surrounding the property to detect adverse conditions and appraisal inconsistencies.
- Provides a non-bias appraisal validation to support HVCC guidelines
- Reduces or avoids unnecessary loan origination costs
- Accelerates workflow and production capacity without adding additional staff
The collateral risk management solutions delivered in RealQuest Professional help reduce loan loss severity, leading to lower loan losses.
Contact us today to learn more about the power of RealQuest Professional — the standard in property data and analytics.
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