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compcruncher and cvr

Recently, the CVR has been the topic of various news and industry publications. It is currently the buzz of the industry because it addresses a major problem that has been plaguing it for years -- finding an alternative solution to BPOs - so expect to read more about it in the coming months.

Form Filler or Appraisal Analyst?

Appraisers will evolve with new tools and data access.

A vastly weakened economy, millions of foreclosures, a number of bad actors on Wall Street, and, in general, the long-term viability of our financial markets, all have led our lender and investor clients to re-evaluate their business processes with the goal of minimizing their financial risk. To appraisers that means they are increasing the reporting requirements to include more meaningful information, analytics, and in the end more credible appraisal reports. The days of the well-educated, experienced appraisal analyst are just beginning.

LiveValuation Magazine - March 3, 2011

Bradford Technologies, Inc Software, Increasing Reliability of Collateral Valuation Report

New evaluation of exterior condition elevates report detail as Dodd-Frank appraisal stipulations and GSE-adopted appraiser independence requirements seek to increase quality in appraisals.

Bradford Technologies, innovator of valuation tools and solutions for residential appraisers and parent of the AppraisalWorld online community for appraisers, has enhanced its CompCruncher™ computer-aided appraisal software to produce statistically supported appraisals that now include exterior property inspections.

MortgageMag - October 25, 2010

Bradford Technologies Enhances Its CompCruncher Appraisal Software

..."With the difficulties the market has had and continues to have, there's understandably a big focus on accuracy, integrity and quality in appraisals-lenders large and small realize it's only a matter of time before that focus works its way into the 18 million BPOs in the alternative valuation segment as well," said Mark Linné, executive vice president of Bradford subsidiary AppraisalWorld. "The Collateral Valuation Report has long been known for transparency, accuracy and quality. We added exterior evaluations, not because of regulations, but as part of our continual quest to increase quality. With the foreclosure fiasco, many believe that short sales will begin comprising much more of the market. Pricing a short sale too low can cause lenders to lose money, but pricing it too high can increase the likelihood that the home will go into foreclosure. Rather than rely on broker price opinions, a lot of lenders are seeking more reliable alternatives like the Collateral Valuation Report."

National Mortgage Professional Magazine - October 25, 2010

Bradford technologies enhances its CompCruncher appraisal software

...CompCruncher is an interactive valuation modeling technology that incorporates regression analysis, empowering appraisers to model and predict property valuations within a local market-not by quasi-analytical evaluation, but with statistical accuracy. The software produces a USPAP-compliant, innovative appraisal product called the Collateral Valuation Report (CVRTM). By adding an evaluation of the property’s exterior condition the report, Bradford Technologies is spearheading the industry’s move toward valuation alternatives that are far more reliable than Broker Price Opinions (BPOs).

Only Software Blog - October 25, 2010

Bradford Technologies And IRR-Residential Partner to Provide Statistically Supported Appraisals With The New Collateral Valuation Report

...Due to the immense number of foreclosures and quick property valuations needed by the national lenders and loan service providers, the CVR is quickly gaining recognition as the best property valuation solution that combines speed, appraiser expertise and statistical accuracy of the value conclusion.

Reuters - October 8, 2010

Bradford Technologies And IRR-Residential Partner to Provide Statistically Supported Appraisals With The New Collateral Valuation Report

Bradford Technologies, the leading innovator of computer-aided appraisal tools for appraisers and IRR-Residential, a national, full service residential valuation company with affiliate offices located in the top 48 metropolitan areas, have formed a partnership to further expand IRR-Residentials' valuation services by offering superior, statistically supported property appraisals using the new Collateral Valuation Report (CVR™).

DMN Forums - October 8, 2010

Bradford Technologies Partners with Appraisal Management Company Collateral Valuation Research Inc. for CVR(TM) Report Capabilities

SAN JOSE, Calif. & SCOTTSDALE, Ariz., Sep 21, 2010 (BUSINESS WIRE) -- Bradford Technologies innovator of valuation tools and solutions for residential appraisers and Collateral Valuation Research Inc. have partnered together to further expand Collateral Valuation Report (CVR(TM)) coverage area throughout North America.

Wall Street Journal - MarketWatch - September 21, 2010

AMC Western Valuation Services Partners with Bradford Technologies Appraisal management company offers new Collateral Valuation Report to clients; delivers accurate valuation reports at half the cost,and in half the time of traditional appraisals

Tighter restrictions imposed by the Home Valuation Code of Conduct (HVCC) and the Fair Housing Act (FHA) appraisal guidelines have led appraisal management companies to seek alternative valuation products that are not only statistically supported, but can be produced at a lower cost and with a faster turn-around time than other currently available valuation products.

CNBC - September 7, 2010

AMC Western Valuation Services Partners with Bradford Technologies

Appraisal management company offers new Collateral Valuation Report to clients; delivers accurate valuation reports at half the cost,and in half the time of traditional appraisals.

SAN JOSE, Calif. & SALT LAKE CITY--(BUSINESS WIRE)-- Bradford Technologies, innovator of computer-aided valuation tools and solutions for residential appraisers, and Salt Lake City-based Western Valuation Services, a division of the Wasatch Front Appraisal Network appraisal management company, have partnered to provide Bradford Technologies’ new Collateral Valuation Report (CVRTM) to Western Valuation Services clients who are looking for a highly accurate, researched valuation report at a much lower cost and faster turn-around time than other non-originating lending appraisals.

Bloomberg Businessweek - September 7, 2010

Risk Considerations Regarding the Collateral Valuation Report (CVR™)

READI and LIA are excited about products such as AppraisalWorld’s Collateral Valuation Report. We hope that appraiser-driven products like this will be a marketable alternative when full traditional appraisals are not desired and that these products will enable appraisers to broaden the appeal of their services, combat BPOs and pure AVMs, and provide a new source of revenue for appraisers. Simply put, we want efforts like this to succeed for the benefit of appraisers.

Appraisers must be prudent in their use of new products and not forget about the potential risks and how to avoid them. Here are a few considerations that we believe READI members should think over with respect to minimizing the risk of legal claims resulting from use of the Collateral Valuation Report (CVR™).

AppraiserLawBlog.com - August 26, 2010

“Mobile Can’t Solve All Our Problems”

...Mark Linne, executive vice president of AppraisalWorld says, “Mobile technology can effectively automate tasks in some—but not all—parts of the mortgage process. As far as the collateral valuation segment goes, mobile technology is poised to make a huge impact on the way appraisers do business...

Mortgage-Technology.com - June 24, 2010

“Rethinking Collateral” - (Mark Linne, EVP at AppraisalWorld, is on the cover of Mortgage Technology magazine)

Mark Linne, EVP at AppraisalWorld, is on the cover of Mortgage Technology magazine

As the industry looks to correct itself, technologists detail how automation can help mortgage participants assess a property’s true value.

Now both GSEs will require lenders to submit full appraisal reports in electronic data format using the MISMO standard prior to loan delivery. This marks a big shift in the mortgage process. (Left to right) Jeremy McCarty, chief executive officer and chief valuation strategist at Valligent; Brian Coester, chief executive officer of Coester Appraisal Group; Bill Fall, chief executive officer at the William Fall Group; Jeffrey Taylor, chief executive officer at Digital Risk; Mark Linne, executive vice president, education and analysis at Appraisal World; and Jennifer Creech, president at InHouse; talked to our editor Tony Garritano about what this initiative means for the future of mortgage lending...

Mortgage Technology - June Issue, 2010

“U.S. Bank to Incorporate New Collateral Valuation Report for Appraisals”

Minneapolis-based U.S. Bank, the fifth largest commercial bank in the United States, recently announced that it will start to incorporate the new Collateral Valuation Report (CVR) into its product pipeline for lending solutions...

DSNews.com - June 10, 2010

“Major bank selects appraisal firm to provide CVR”

The fifth largest bank in the nation chose an appraisal firm to provide Bradford Technologies' Collateral Valuation Report for its valuation needs. Find out which bank is working with which appraisal company...

Valuation Review - June 10, 2010

“U.S. Bank Adopts Collateral Valuation Report”

U.S. Bank, the nation's fifth-largest bank, says it will start to incorporate Collateral Valuation Report (CVR) as part of its valuation products for its lending solutions...

MortgageOrb.com - June 8, 2010

“U.S. Bank incorporates new Collateral Valuation Report into its pipeline”

U.S. Bank, the nation’s fifth largest bank, has announced that it will start to incorporate a new statistically supported appraisal, the Collateral Valuation Report (CVR) as part of its ongoing efforts to use best-of-breed valuation products for its lending solutions. Forsythe Appraisals LLC, an independent provider of residential real estate appraisals in the United States and Valocity LLC, a nationwide valuations provider, have been selected by U.S. Bank to provide the new CVR appraisal report on a nationwide basis...

National Mortgage Professional Magazine - June 8, 2010

“ZDS to Provide Collateral Valuation Reports Through New Partnership”

San Jose, California-based Zone Data Systems, LLC (ZDS), with 233 member appraisal companies in 25 states that employ more than 500 appraisers, recently announced that it has joined forces with Silicon Valley, California-based Bradford Technologies, Inc., in order to provide clients with the new Collateral Valuation Report (CVR)...

DSNews.com - June 4, 2010

“Zone Data Systems, LLC Partners with AppraisalWorld to Provide New Collateral Valuation Reports”

...Leo Savoie, SRA, Chairman of the Board of ZDS, noted that "the CVR product compliments our efforts to re-engineer the appraisal process. We will be working with Bradford Technologies to create a superior valuation product that takes advantage of their technology and our dynamic, appraiser-based valuation database."...

Forbes.com - June 2, 2010

“Bradford Technologies Partners with C&D Real Estate Appraisal & Review”

...The CVR is a product that can deliver quality market analysis by using statistical data and market regression together with the skills and local market knowledge from licensed and certified appraisers. C&D sees a great opportunity for asset managers and lenders to utilize a valuation report that will improve quality while reducing the costs in a time efficient manner...

Finance.Yahoo.com - June 2, 2010

“Utilize Interactive Analytic Products, Designated Member Tells Appraisers”

Appraisers need to use interactive valuation products in order to provide transformative quality, Mark Linné, MAI, SRA, told attendees at the Predictive Methods Conference held May 17-19 in Laguna Niguel, Calif. Several keynote speakers and other presenters examined the role of analytics in providing critical information to clients in the financial services sector at the conference...

Appraisal Institute - June 2, 2010

“Mark Linné is quoted by Reuters reflecting on this summer's housing demand”

The retreat in the U.S. housing market after the government halted its hefty tax credit in April should be short-lived, analysts say, and the market may resume its path to stability...

Reuters - June 1, 2010

“Leading California Credit Union Adopts AppraisalWorld's Collateral Valuation Report”

... BusinessWire - AppraisalWorld, a valuation services portal and innovative solutions provider, announced today that Santa Clara, CA-based KeyPoint Credit Union will begin ordering its revolutionary new property valuation product - the Collateral Valuation Report (CVR(TM))...

Forbes.com - April 12, 2010

“AMCs, BPOs and Appraisal Compliance”

... A hybrid collateral valuation report has been released by AppraisalWorld. The San Jose, Calif.-based company said the report is more detailed and accurate than a broker price opinion, less detailed than a full appraisal and completed by a certified local appraiser using its CompCruncher technology...

MortgageDaily.com - March 9, 2010

“A hybrid collateral valuation report has been released by AppraisalWorld”

MortgageDaily Tweets - March 2010

“More Appraisal Products Enter The Market”

... the CVR is built on absolutely the most robust set of data, including public records, MLS, REO information, listings, flood, aerial imagery, market statistics, and appraiser-driven regression modeling which happens right down at the neighborhood level. No other product even comes close to delivering the features and benefits of a CVR...

National Mortgage News - February 22, 2010

“Forsythe Appraisals and AppraisalWorld Partner to Train Appraisers Nationwide to Produce New Collateral Valuation Report”

... The CVR is an innovative, USPAP-compliant valuation product that can only be completed by a licensed or certified residential real estate appraiser who has local market knowledge and has completed AppraisalWorld's rigorous product training program. The training instructs them on proper use of the powerful analytics that drive the product...

Real Estate Business Journal (print publication) - February 20, 2010

“Loan Mods Will Be All The Talk”

... It's become very clear to the industry that ineffective collateral valuation is a major industry problem which needs to be resolved, and it's going to take more than people. Innovative technology will be critical to improving the way valuations are done...

Mortgage Technology - February 18, 2010

“AppraisalWorld Updates Collateral Valuation Report”

... Each report is completed by a certified local appraiser who uses AppraisalWorld's CompCruncher technology - an analytic platform that is the result of collaboration with numerous industry data providers that include Microsoft, Pictometry, Veros, Google, LSI (formerly Fidelity) and others...

MortgageOrb.com - February 17, 2010

“New Valuation Types Emerge”

... The CVR is a product that provides all of the information that can be had from an AVM or BPO, and then takes it to the next level with a tremendous amount of additional data and detailed information which is provided by a knowledgeable and trained real estate appraiser...

Managing REO (print publication) - February 17, 2010

“AppraisalWorld extends product for credit unions”

... The CVR is a streamlined report that states the value of a subject property with more detail and accuracy than a broker price opinion, but less detail than a traditional appraisal...

ValuationReview.com - February 16, 2010

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