Banks, insurance companies and whole loan and asset-backed securities have trillions of dollars worth of exposure in commercial real estate. Distressed, delinquent and default rates are escalating while property values are declining, vacancy rates are increasing and rents are decreasing. The volatility of the commercial market requires that you have current, realistic value assessments of delinquent properties and their net income stream to reduce risk and determine market-based investment and work-out strategies.
CoreLogic® Commercial Evaluation Service provides timely, accurate property valuations that offer critical insight into value trends, so you can optimize loan and portfolio level decisions. The service is considerably less expensive than full commercial real estate appraisals—approximately 50 percent less-- and can deliver a valuation with faster turn times, usually within 10 business days.
These comprehensive evaluations are produced by a professionally-managed nationwide panel of more than 7,500 commercial real estate brokers and contract appraisers. Using an income approach and sales comparison to value, the evaluations provide an overview of local rental market conditions, so you can quickly determine the current market rent for your properties.
CoreLogic Commercial Evaluation Service enables you to:
- Make confident, better-informed decisions across the servicing and default continuum
- Save on property valuation, processing and overhead costs
- Optimize return on collateral assets
- Reduce portfolio and third-party vendor risks
- Lower compliance risk
This comprehensive, cost-effective alternative to appraisals offers you the following additional data in an easy-to-read format:
- Market rents
- Income approach to value
- Listing and resale comps
- Site inspections with photos
Reduce Portfolio Risk
Timely, accurate valuations are critical to helping you make the best possible loan-level and portfolio-level decisions. The current, volatile commercial market makes it more important than ever for frequent asset valuations. These valuations serve as early warnings of declining value trends and increasing loss velocity so you can respond more quickly to adverse market conditions and reduce your financial exposure.
With this comprehensive, cost-effective alternative to appraisals you can:
- Order evaluations quarterly or semi-annually
- Make informed default management decisions without incurring full appraisal costs
- Be confident with consistent results as the reports are monitored daily and reviewed by qualified commercial agents, appraisers and former hedge fund employees
- Check real-time status and order progress 24/7 via our SourceNet™ system which can integrate into your system
Optimize Return on Collateral Assets
With commercial property losses escalating, you need to maximize your return on every asset. Whether you’re considering a loan modification, contract or lease adjustments, asset disposition, or buying and selling loan portfolios, your decision is more informed with reliable, current commercial evaluations.
CoreLogic Commercial Evaluation Service streamlines the evaluation process by providing real-time access to quality data, so you can act upon the information in a timely fashion. When you consider the lower costs of the evaluation service relative to commercial appraisals and the reduction in processing and overhead costs, you can appreciate how it can help maximize your return on assets.
Minimize Third-Party Vendor Risk
The commercial mortgage industry is facing greater complexity, regulation, compliance and exposure to risk. You cannot afford to be vulnerable to third-party risk. By reducing your risk, you reduce costs. Our Commercial Evaluation Service gives you the peace-of-mind and confidence that comes with dealing with a dependable partner. We help you mitigate risk and make sound business decisions by providing:
- Continual federal and state regulatory tracking and compliance for valuation-related requirements
- Routine audits to detect and eliminate software vulnerability
- A hotline answered by live commercial valuation specialists
- Access to the insights, infrastructure and experience of an established company
