Valuation Partners, a national appraisal management company with access to more than 10,000 independent fee appraisers in all 50 states, has launched a new appraisal tool that it says will protect mortgage lenders from potential loan buybacks when properties receive a high-risk rating on Fannie Mae’s Collateral Underwriter (CU) findings.
The Market $en$e report helps lenders by identifying causes and examines in detail the reasons why an appraisal receives a high-risk score, while offering possible solutions for improved CU appraisal scores.
Every Market $en$e report includes a complete analysis and explanation of the CU score by a licensed, certified appraiser, including a discussion of any unique property factors that made the appraisal challenging. The report also identifies and explains any unusual items and includes a sales analysis, key statistics on comparable properties and nearby sales going back many years. If the appraisal can be improved, the Market $en$e report suggests remedies including fixing any appraiser issues or including better comps.
“More than ever, mortgage lenders and investors demand appraisals they can trust,” Valuation Partners CEO Bill fall said in the press release. “High-risk Collateral Underwriter scores are a particular problem, especially if upon deeper analysis the scores aren’t warranted. Market $en$e provides lenders a high level of assurance and protection against buybacks even if the appraisal comes back with a high-risk score.”
If Valuation Partners does the original appraisal and it receives a CU rating of 4 or 5, a Market $en$e report is included at no additional cost, the company said.