BUFFALO, N.Y.--(BUSINESS WIRE)--Real Info, Inc. a national technology provider of real estate data and automated valuation models (AVM’s) announced its offering of automated valuation models (AVM’s) with property condition reports designed to meet new regulatory appraisal and evaluation guidelines. Real Info, Inc. has contracted with Cleveland, OH–based, Safeguard Properties, the nation’s largest privately held mortgage field services company, as their provider for third party condition inspection reporting with full photo documentation.
The recently published interagency guidelines recommend that lenders should consider obtaining verification of a property’s current physical condition when utilizing AVMs. By supplementing its existing AVMs with external property condition reports and subject photos, Real Info, Inc. is assisting lenders in achieving compliance with the new requirements and ensuring accurate results. The process is seamless and provides the end user the opportunity to request a condition report as a stand alone product to accompany any AVM, including Real Info’s i-ValTM and realAssessmentTM reports.
Property condition reports are conducted by a qualified real estate professional to determine subject location and condition, which include photos along with an AVM. The offering includes tier-based pricing based upon expected turnaround times, giving the user affordable and time sensitive options to meet the demands of their current workload in as fast as two days.
“Safeguard and Real Info share common goals to help improve and stabilize the mortgage industry,” said Alan Jaffa, CEO of Safeguard Properties. “With property condition reports, we are able to meet industry guidelines and improve the quality of property data for lenders.”
“Our collaboration with Safeguard Properties enables lenders to not only meet, but exceed valuation guidelines in as little as two days,” said Jim Kirchmeyer, founder and CEO of Real Info, Inc. “By using a condition report in conjunction with an AVM, any potential issues are caught early in the process which makes an accurate valuation much more credible. By working with the leading provider of inspections, Safeguard understands the importance of up-to-date information so that users can properly verify the physical condition of a property quickly and efficiently.”
Real-Info provides three proprietary AVM's: i-ValTM, realAssessmentTM, and Q-ValTM, which utilize the knowledge database through rules-based, expert system models to arrive at a predicted market value for a particular residential property. The company's licensing partnerships with nationally recognized AVM developers provide an extensive menu of valuation products for clients.
Real Info, Inc.
Founded in 1995, Real Info, Inc. provides lenders Internet access to more than 100 million properties within its comprehensive database, which is compiled property data from state and county levels, local municipalities and licensed appraisers. Real Info, Inc. offers tax and structural information for both residential and commercial properties, assessed values, AVM's, appraiser-assisted AVM's, desktop appraisers, broker price opinions (BPO's), drive-by appraisals, full Uniform Residential Appraisal Report (URAR) appraisals and complete narrative commercial appraisals. Real Info, Inc.’s sister company, Kirchmeyer & Associates is a national appraisal and valuation company with 6,000 licensed appraisers from coast to coast providing lenders with fast turnaround time on reports focusing on quality and accuracy resulting in reducing risk and saving money. Visit the company’s website www.real-info.com.