Appraiser-centric solution solves veracity concerns and floor plan requirement with no reliance on 3rd party data
CHARLOTTE, N.C. — March 7, 2022 — With Freddie Mac already issuing approvals for desktop appraisals, and Fannie Mae following mid-month, Incenter Appraisal Management is preparing lenders and appraisers alike for a reality check: it’s one thing to allow desktop appraisals for purchase and quite another to ensure there is no compromise on the quality and veracity of the reports, and appraiser adoption of the solutions.
“Lenders don’t want to look back in hindsight after performing these for a year or so and realize that the data ultimately used for underwriting decisions is any less reliable than the data they’re basing these decisions on now,” observed Mark Walser, President of Incenter Appraisal Management.
Walser went on to say that any remote inspection solution that doesn’t allow appraisers to collect their own property photos, information and data may suffer adoption challenges, especially in the early going. “Appraisers need to have full confidence in the reports they’re signing their names to. Full confidence means they need to see with their own eyes the inside of a property, independently verify measurements of floor plans they are being supplied with, and have confidence in and understanding of floor plan generation methods.”
Incenter Appraisal Management launched RemoteVal™ in September 2021 to address the dual challenges of appraiser shortages and valuation reporting backlogs. Using RemoteVal™ from their desks, appraisers completely manage the appraisal inspection process. Looking through the property contact’s smartphone camera, they capture and upload time-stamped and geographically verified photos, videos and closeups for their reports, all in real time, and can verify measurements of walls.
Once GSE approval of desktop valuations for purchase was imminent, the company quickly created a RemoteVal™ for Desktop version that includes a 2D tool that enables appraisers to meet the new requirements for a detailed floor plan with walls, the functional layout of the home, and a remote virtual inspection with the property contact for verification of data.
To help appraisers and lenders learn more about this “one-stop” technology, Incenter Appraisal Management is offering consultations and demos, available on request at iamsales@incenterms.com.
Appraisers can also register for training webinars on RemoteVal™ with McKissock Learning, available at mckissock.com.
Incenter Appraisal Management is also reachable by phone at 866-222-6205.
About Incenter Appraisal Management
Incenter Appraisal Management’s goal is to harness its knowledge, skills, experience and profound sense of integrity to consistently exceed client expectations. The company is a national provider of best-in-class valuations, inspections and data products for lenders throughout the country, and is headquartered in Charlotte, North Carolina. For more information, please visit incenteram.com.
To learn more about Incenter LLC, see incenterms.com.
