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new to market

PLATINUMdata announces update to REALview Plus appraisal tool

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and is powered by technologies from Global DMS. The service streamlines the entire valuation process and all products are delivered in the MISMO-sanctioned format. Rather than ordering and managing various individual valuation products, mortgage companies can create their own custom valuation workflow seamlessly integrated with their loan management system in a format fullycompliant with the new GSE requirements and all other major guidelines and regulations. “This is much more than a one-stop service that covers valuation reports for the full spectrum of lender needs,” says Jeremy McCarty, chief executive officer and chief valuation strategist of Valligent. “It’s also a way for lenders to ensure that their valuation processes are fully compliant with all of the related regulations, including the Collateral Data Delivery requirements set forth by Fannie Mae and Freddie Mac.” For more information, visit or

Valuation Partners launches appraiser proximity certifications Valuation Partners, a national real estate valuations provider,

announced that it is providing certifications on all new orders that provide proof that the appraiser chosen for each particular assignment has the local knowledge and expertise to complete the assignment. The company will provide these certifications, called an Appraiser Proximity Certification, on every order at no additional cost. Using geocoding technology, each Appraiser Proximity Certification includes an automatically generated map showing the location of both the subject property and the appraiser’s place of business. Prior to accepting the order, the appraiser will acknowledge the distance between his or her office and the property is correct, which helps ensure that the appraiser has sufficient knowledge of the area to provide an accurate valuation. “In the current environment, we believe it’s extremely important to fully certify the local expertise of our fee appraisers,” said Bill Fall, chief executive officer of Valuation Partners. “Our Appraiser Proximity Certifications will provide lenders extra piece of mind and assurance that the right expert is on the job.” For more information, visit

JUNE 2010 



We’ve got

money to lend. Apartment loans $250M to $2MM* Up to 75% loan-to-value Competitive rates, fees and terms Over 60 years combined experience in multi-family financing *Larger loans considered on a case-by-case basis.

Work with a financial partner committed to helping you and your clients close the deal. Vivian Madey • 630-242-7251 • Austin, San Antonio, Dallas/Fort Worth, Denver, Salt Lake City

Jonathan Willems • 630-242-7249 • Baltimore, Philadelphia, Kansas City, St. Louis, Raleigh/Durham

Jennifer Colon • 630-242-7248 • Columbus, Louisville, Minneapolis/St. Paul, Oklahoma City/Tulsa

1-800-894-6900 Member FDIC

Helping you do more.

PLATINUMdata, a collateral solutions provider to the financial industry, has announced the update of its automated appraisal review product, REALview, to REALview Plus to better assist lenders and investors in scrutinizing the valuation accuracy of their appraisals. REALview is an automated underwriting and quality control appraisal review tool that checks appraisals for compliance, completeness and accuracy while integrating public record and MLS data to benchmark the value on the appraisal. In addition to providing the capabilities of REALview, REALview Plus is an enhanced version that provides an automated method of “best comparable” selection and an appraisal quality score, based on sales comp relevance, which can be used for bump logic workflow applications. “In the current market, lenders and investors know that they can’t just look at property appraisals,” said Rocky Donathan, president of PLATINUMdata. “REALview Plus enables reviewers to be more confident in an appraisal, because our technology allows them to cost-effectively and efficiently improve appraisal quality with a standard methodology that objectively evaluates their valuation results.” REALview Plus offers an automated quality score that accelerates the appraisal review process with less risk by providing a probability that an appraised value is accurate. It performs a sales comparables check that ensures fewer valuation issues by utilizing the most relevant sales comps near the subject property. The product uses multisourced public record data and MLS data when available to automate due diligence, cutting down on research time while still providing a diverse and thorough review of data points. For more information, visit

Appraisal Institute releases new book on the appraisal review process A new book published by the Appraisal Institute provides practical instruction on the appraisal review process and helps promote greater understanding between reviewers and appraisers. Appraising the Appraisal: The Art of Appraisal Review, second edition, is written by Richard C. Sorenson, MAI. In his book, he describes common deficiencies in appraisal reports and offers tips for preparing careful and constructive appraisal reviews that can be applied by appraisers, lenders and other professionals. The guide includes updated information on scope of work and data verification, real-world examples that high-

light the qualities of both effective and ineffective appraisal reports, a new case study, handy checklists and sample review forms. Sorenson is the principal of Appraisal Management Consultants, a firm that assists financial institutions with appraisal review, real estate valuation management and training. Sorenson was previously with First Chicago Bank (1958-1996), now Bank One, in various appraisal and management positions and was the 1995 national president of the Appraisal Institute. He teaches appraisal courses and commercial and residential review seminars and has published numerous articles in appraisal and banking journals. For more information, visit

Blueberry Systems announces integration with CRMnow’s Mortgage iQ Blueberry Systems LLC has announced that it has integrated its loan production platform, RELAY, with Photo credit: John Foxx Mortgage iQ customer management technology developed by CRMnow. The integration lets Mortgage iQ users access customized views of realtime loan data within the RELAY system, allowing them to manage both customer relationships and loan production from one system. “We are excited to offer our users such an enhanced workflow,” said CRMnow President Chris King. “With RELAY, our users now have uniform business rules in place from application through production. This allows them to be more efficient, have tighter control over loan data, and be of greater assistance to borrowers than ever before.” RELAY offers a complete loan origination system featuring a universal data model, providing the most accurate data in the industry. In contrast to most systems that present an outdated ‘database of record,’ the universal data model combines the various systems and applications involved in the production process, eliminating data silos and the need for duplicate or staggered data entry. And whereas most systems only make available the most recent data, the combined systems allow RELAY’s data audit framework to see a true side-by-side comparison of the various states of a loan as it evolves, in real time, and highlights the discrepancies. The bottom line is much higher data quality that prevents costly pricing variances and buybacks. “This integration is another validation of our commitment to data integrity, and it’s great to see CRMnow shares that commitment,” said Blueberry Systems President Lloyd Booth. “Combine that with user efficiencies, and the dollars saved really start to add up.” CRMnow previously purchased and