Valuation Partners, a national appraisal management company with access to over 10,000 independent fee appraisers in all 50 states, will launch PropertyRx, a new, more cost-effective approach to real estate valuations that gives lenders greater efficiency without having to sacrifice quality and compliance, on April 1, 2019. An innovative valuation platform, PropertyRx equips lenders with a single point of contact for ordering and receiving a suite of valuation products and services, which can be delivered as quickly as 24 hours.
"With a contracting market, lenders have a great need for more timely and cost-effective valuations," said Jon Forrester, vice president of valuation services at Valuation Partners. "It can also be a challenge for lenders to bring on new partners for different valuation needs, so we built the PropertyRx platform to be an end-to-end enterprise solution for every kind of valuation."
Products available through the new platform include property condition assessments (PCAs), automated valuation models (AVMs), desktop appraisals and traditional appraisals. PropertyRx also enables lenders, servicers and investors to tailor unique valuation solutions or build a cascade of valuation solutions that are governed by their unique business rules and requirements. Clients can access PropertyRx through Valuation Partners' existing website or any variation of business-to-business direct connections. Valuations available through PropertyRx are performed by Valuation Partners' network of credentialed appraisers who have local market expertise, access to best-in-class field inspection data, and a national repository of market data.
"We are always on the lookout for how to make the appraisal process better," said William Fall, CEO of The William Fall Group. "When paired with our deep industry talent, PropertyRx can provide substantial productivity gains for lenders, servicers and investors, while still delivering the high-level quality and service our clients have always relied on.