eValuation ZONE Inc., a Chicago-based national valuation services provider, announced the launch of its new USPAP-compliant product, eVal 1.0.
eVal 1.0 is a hybrid valuation report utilized for a variety of programs such as HELOCs, REOs, as well as purchases and refinances for non-agency and portfolio programs.
“We are very excited to present the eVal 1.0, one of the first forms of its kind,” eValuation ZONE Chief Residential Appraiser Luke Tomaszewski said. “The new hybrid form is poised to revolutionize the way we approach appraisal forms — putting forth a more forward-thinking approach to appraisals geared to the client’s needs, the borrower’s pocketbook and the appraiser’s valuable time.”
The eVal 1.0 assists the lender in closing more loans faster and at a lower out-of-pocket price point. The form is designed to include everything a traditional drive-by has, with aspects of a typical property condition report (PCR), into one easy-to-understand, USPAP-compliant report.
Global DMS, a provider of appraisal management software for the real estate industry, plans to roll out the eVal 1.0 to its customers within its own platform in the near future.
“Global DMS is committed to supporting our clients and their innovative ideas,” Global DMS President and CEO Vladimir Bien-Aime said. “We support forward-thinking companies that address current and relative needs within today’s market. We are very proud to be working with Luke and eValuation ZONE.”