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Benefits
Product brochure.
- Centralized responses to all product questions and service level expectations provide fast, accurate, and consistent answers.
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- Direct access to a leading developer of alternative (non-traditional) valuation product lines and cascading valuation solutions provides lenders with leading technology.
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- Lower cost per valuation and reduced turnaround times can be achieved through customized valuation cascades.
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- Testing against known appraised values provides lenders assurance when evaluating new valuation products.
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Features
- Customized cascading valuation options can be created based on borrower characteristics, geography, or other factors.
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- A variety of instant and automated valuation technology.
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- Dynamic rule sets and system checks that can be provided to each user as determined by their valuation output needs.
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- Immediate access through XML direct data exchange.
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- Staff appraisers, reviewers, and real estate analysts are centrally located.
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- Well defined valuation processes for completing desktop assignments.
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- Account specific appraisal coordinators apply realistic vendor management techniques.
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- Trained specialists in handling appraisal disputes, complex issues, and technical support.
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The valuations you need - delivered to your exact specifications
EL Valuation Services fulfills the needs of home equity lenders who desire a complete portfolio of equity collateral verification products and services. State-of-the-art interfaces with the leading data providers and centralized valuation processes provide lenders with easy, one-stop access and the widest availability to a variety of dynamic valuation solutions.
Since there are numerous ways to determine the value of residential property, EL Valuation Services incorporates a diverse product line designed to satisfy each lender?s appraisal needs.
Everest Land Real Estate Appraisal Network
On those occasions when the automated and desk-enhanced phases of the cascade do not deliver the required information, professional on-site real estate appraisal ? either a Drive-By Appraisal of property exteriors or an Interior Appraisal ? may be required. With access to thousands of state licensed, certified and experienced real estate appraisers located throughout the U.S., Everest Land can handle all appraisal operations including ordering, delivery, billing, and quality control review. For more information on traditional valuations, click here. For more information on Everest Land Appraisal Management Companies (AMCs) and compliance with the Home Value Code of Conduct (HVCC), click here.
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Assessment Based Valuation Models
A starting point in the valuation line, the Tax Valuation Report allows users to reduce overall costs when the
lending decision is supported by credit worthiness and well-defined risk guidelines.
- Tax Appraised Valued (TAV): This report shows assessor valuation for the subject property and relies on market analysis and the valuation practices of local assessment offices.
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- Online Tax Value: Because county-reported assessed fair market value is conservative, the EL Online Tax Value factors include current county assessment practice, market transfers, and valuation analysis which are reviewed and adjusted on a monthly basis to reflect changing market conditions.
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Automated Valuation Models (AVM)
Typically, if coverage is available with an AVM product, the cost is low and the turnaround time can be immediate. No operator assistance is required. Here’s a sample of several AVMs available from Everest Land:
- ValuePoint 4: ValuePoint 4 uses multiple information resources, updated on a daily basis, to describe the subject property. It is recognized as the “next generation AVM” and a leading “blended” AVM model application.
View sample ValuePoint®4 AVM Report.
Product Brochure.
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- Freddie Mac Home Value Explorer (HVE): Freddie Mac HVE is known for its lower cost, faster turnaround, and national coverage. No other AVM covers as many states, Metropolitan Statistical Areas (MSA), or non-disclosure market areas. HVE provides a best choice method along with confidence score ratings and recent sales information.
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- Basis 100 Solimar PASS: PASS is the Basis 100 flagship valuation product; an online, real-time automated property valuation service designed for all aspects of residential lending that require an understanding of the underlying collateral value.
View sample PASS AVM Report.
Product Brochure.
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Desk-Enhanced Valuation Reports
When market coverage for AVM products is limited or hit rates are unsatisfactory, a Desk-Enhanced Valuation Report — incorporating the experience and skill of one of the Everest Land professional real estate analysts — is the next step in the progression.
- Equity Valuation Report: Online data sources and public data are used to gather information about sales history, trend analysis, and the assessed fair market value. An Equity Valuation Specialist reviews and reconciles the market data with the owner’s opinion.
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- Collateral Assessment Report (CAR): The Collateral Assessment Report provides desk review processes and real property analysis outcomes. Online data sources and public data are used to gather this information. If the values reported appear logical and meet the test of appropriateness and adequacy, no further upgrade or fee appraisal service may be required.
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