Compare today’s current market conditions to those in recent years, and you will see a changed lending landscape. Escalating federal regulations and stringent interagency guidelines have altered how a property’s market value can be estimated. In many cases, stand-alone tools like Broker Price Opinions (BPO) and Automated Value Models (AVM) must be augmented with a broader set of market indicators in order to be used in connection with collateral valuation. This leaves lenders with a dilemma: Where to find a credible and cost-effective alternative to the traditional appraisal? CoreLogic is proud to introduce Residential Evaluation Report.
Residential Evaluation Report delivers a comprehensive viewpoint that is unavailable in any other valuation tool. It combines five different market value indicators plus a certified restricted-use residential appraisal into one product:
The end result is a report that fills in the information gaps that stand-alone tools leave open. With a comprehensive overview comprised of diverse indicators, Residential Evaluation Report provides lenders and servicers with the following benefits:
As a USPAP compliant Restricted-Use Appraisal, Residential Evaluation Report is a cost effective alternative to 2055 or 1004 appraisals. This makes it a logical choice for many lending and servicing decisions including:
At a price point considerably lower than a traditional appraisal, CoreLogic’s Residential Evaluation Report helps address compliance and cost issues in a single solution.
Residential Evaluation Report (RER)
No Compliance Guarantee
(reprinted from Mortgage Technology)
Vice President, Collateral Strategy
A New Due-Diligence Dilemma
(from the July 2012 issue of Secondary Marketing Executive)
Director of Strategic Relations
Although some industry solutions provide a combination of market value indicators, none equal the comprehensive diversity displayed in CoreLogic’s Residential Evaluation Report. Featuring multiple perspectives within a single solution, it offers greater accuracy and insight:
Compliance diligence. Cost-effectiveness. Peace-of-mind. These are the advantages lenders and servicers will experience with Residential Evaluation Report.
Residential Evaluation Report is provided as data feed or hard copy PDF depending on client preference. Typical turnaround is five business days.
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