Equity Lending Valuations

Qualitative Appraisal Report (QAR)

SIR’s Qualitative Appraisal Report (QAR) is a cost-effective drive-by appraisal solution. The service includes an exterior inspection of property condition, and comes with a licensed appraiser’s Opinion of Value.

The QAR service is easy to order through our web platform, and results are typically returned in 3 to 5 business days. Results include an administrative review for completeness and 3 comparable sales.

ValueNet Plus

Our ValueNet Plus product is a USPAP-Compliant alternative valuation process performed by a certified or licensed appraiser utilizing local market data sources. It is available for single family, town home, condominium and 2 to 4 multi-unit properties. The service includes an exterior inspection of the home and surrounding neighborhood, and multiple photographs of the subject property.

Another unique feature of this offering is a built in layer of quality control which provides a second level of appraiser expertise, and also monitors appraiser performance, quality level and turn time to determine future order assignment. ValueNet is a robust and compliant solution that has been utilized by lenders on a nationwide scale for over 17 years with an impressive track record for accurate valuations and completion rate. ValueNet meets the requirements for all State and Federal laws and regulations.

Automated Valuation Model (AVM)

AVMs, or automated valuation models, deliver data derived values using hedonic or regression based algorithms to value the subject property. They are commonly used on refinances, equity loans, servicing portfolios, and for quality control purposes.  First Mortgage Investors have also endorsed AVM products to aide in front end credit risk management.  Along with other loan data, AVM’s can help to determine the degree of appraisal inspection requirements.

Many different real estate factors are used in processing AVMs: recent sales in the subject property area; overall market conditions; conforming neighborhood; CPI (Consumer Price Index); and GNP (Gross National Product). AVMs are 30-second reports, meaning that the completed report should return to the user in 30 seconds or less.

Automated Valuation Models are available on line through SIR’s web-based technology or can be ordered in batch form.  Our technology features a cascade of AVM providers.  AVM output in batch form can be used in conjunction with portfolio reviews or monitoring programs.

Residential Property Condition Report

SIR’s Property Condition Report is an effective tool that can help you quickly determine the exterior state of a subject property while also supplying the property’s physical condition and characteristics as required by the Interagency Appraisal and Evaluation Guidelines.   Combining SIR’s Property Condition Report with one of our AVM solutions not only delivers a compliant evaluation, but also provides the critical information you need to make lending decisions.

All of our reports are prepared by trained real estate professionals who live in the subject property’s community, and therefore have a shared stake in its well-being.