Veros White Paper Highlights Insights on Interagency Appraisal and Evaluation Guidelines
Feb 14, 2011
Santa Ana, CA – February 14, 2011 – Veros, an industry leader in collateral valuation technology, enterprise risk management and predictive analytics, has announced the release of a white paper entitled Interagency Appraisal & Evaluation Guidelines: Insights into Understanding and Integrating the New Guidance. It is free and available for download here.
The white paper seeks to bring clarity to the expanded language in the Interagency Appraisal & Evaluation Guidelines (Guidelines) surrounding the concepts of appraisal requirements and appropriate use of evaluations including automated valuation model (AVM) usage and tools for other research. Originally written and published in 1994 and then revised in 2010, the Guidelines seek to maintain the integrity of appropriate standards of safety, due diligence and proper consideration in real transactions.
“The real estate and mortgage industries have experienced a constant evolution of technology development and legislative change that directly impact how appraisers do business, as well as how the value of residential properties are assessed,” said William E. King, director of valuation initiatives at Veros Real Estate Solutions. “It is critical that professionals have an accurate understanding of the new regulations to ensure compliance so that these industries can continue to function at optimum levels.”
At the core of the white paper is a reminder to readers that the five basic requirements established in the original 1994 Guidelines remain unchanged. The 2010 revisions to these requirements are for the purpose of broadening the knowledge base for industry professionals and increasing compliance. Additionally, the paper reiterates the importance of appraisal and evaluation independence by outlining how regulated institutions can achieve and maintain this independence for their collateral valuation programs.
To download a free copy of the Veros white paper, please click here.
About Veros Real Estate Solutions
Veros Real Estate Solutions, a proven leader in enterprise risk management and collateral valuation services, uniquely combines the power of predictive technology, data analytics and industry expertise to deliver advanced automated decisioning solutions. Veros products, systems and services, integrated into industry leading companies, are now optimizing millions of profitable decisions throughout the mortgage industry from loan origination through servicing and the secondary markets. Veros provides solutions to control risk and increase profits including automated valuations, fraud and risk detection, portfolio analysis, forecasting, and next-generation property valuation workflow and risk management platforms. Veros is headquartered in Santa Ana, Calif.