Collateral Review Solutions for the Mortgage Industry
In an effort to provide lenders with decreased overhead and staffing costs, while maintaining the assurance that their loans will meet guidelines and be accepted by FNMA and FHLMC, Indecomm Global Services Inc. provides an extensive review of real estate appraisals prior to closing and/or post closing. Our experienced staff of licensed real estate appraisers will provide a comprehensive review to validate the appraisal report, as well as support or deny the appraiser's methodology and value conclusion.
Our staff appraisers are competent, experienced professionals who are fully trained and knowledgeable regarding the requirements mandated by the Uniform Standard Professional Appraisal Practice (USPAP). It is our mission to provide our clients with quality services to ensure the independence of the collateral valuation process, therefore allowing our clients to maintain safe and sound banking practices, as required by the Federal Reserve.
Our Collateral Review Team provides assistance to lenders to determine the accuracy, quality, and marketability of the appraisal content. We can provide the following services:
- Comprehensive appraisal review to determine the credibility of the appraisal, qualifications of the appraiser, accuracy of the Opinion-of-Value, and USPAP guidelines and state and federal regulatory requirements
- Work directly with Appraisal Management Companies to obtain any supporting information needed to ensure the appraisal meets agency guidelines
- Agency Rebuttals – responses to Fannie Mae, Freddie Mac, or other agency/investor concerns about the strength of the appraisal used to make a lending decision
- REO/Foreclosure/Short Sale Valuation Determination – preparation of a statement of value on a home where a default on the mortgage has occurred
- Desk Reviews - verify appraisal meets all industry standards, determine if appropriate comparables have been used, review adjustments, and evaluate other significant items
Our collateral review services can be delivered through Kaizen®, Indecomm's proprietary web-based risk management technology platform. The system identifies appraisal level deficiencies and patterns of defects by individual appraisers, appraisal management companies (AMCs), property types, etc. Kaizen® helps to identify the root causes of the defects it finds, enabling you to correct your processes before they become systemic and better manage your appraiser panel and/or AMCs.
For more information about Kaizen®, click here