Introducing RESIDx, the proprietary next generation valuation technology
RESIDx is a web-based valuation platform that is accurate, compliant, timely and affordable. Also, there is no long term cotract or minimum usage requirement. You can order online on an as needed basis. The following information outlines the difference between the reports that are available.
Residential Evidentiary Asset Determination
A Documented Audit that substatiates or challenges an alleged value of a residential asset. Trained analysts scrutinize data under a rules-based, apppraisal methodology that considers value in a multi-dimensionl perspective.Fact-based, pertinent market conditions and intelligence plus area relevent transactions are transparently reported to enable one to make informed decisions. The audit confirms a quick sale as well as a patient, fair market value. Recommended for: 1st Loan Prequalification, Appraisal, Short Sale and Loss Mitigation audits
Subject Confirmed Onsite Property Evaluation
SCOPE assistsLenders in their requirement to comply with the new Interagency Guidlines.The current rules demand that if lenders utilize AVM’s(Automated Valuation Models), they must also document the actual condition of the property. Furthermore, they must evaluate critical market conditions to adhere to internal collateral protection policy. SCOPE is a combined report that includes all of the evidence foud in a READ Audit appended to a confirmed site visit that records subject specific property and neighborhood conditions with relevent photos. Recommended for: 2nd Mortgage, Refinance, Home Equity Reviews, Default
Documented Audit Broker Price Option
DA.BPO is a traditional FNMA or FMAC BPO conducted by a pre-vetted, Licensed Realtor accompanied by a READ.Audit. The process delivers two completely independent, objective opinions of value, one confirming the other, for the same fee as a traditional BPO. Recommended for: Default Loan Operations