First American eAppraiseIT, a provider of real estate valuation products and services, is now offering a one-page value reconciliation report that is designed to help default and real estate owned (REO) managers make loss mitigation and pre-foreclosure decisions.
According to the company, the new offering, VRR Lite, like eAppraiseIT's original value reconciliation service, will give clients a better understanding of the reasons for differences between origination appraisals and subsequent loan servicing valuations and assist in the analysis of loan portfolios, retrospective value reviews, pre-closing and post-closing value opinions and appraisal panel reviews.
VRR Lite offers lenders visibility into the true value of their assets in pre-foreclosure situations, alerts them to indications of fraud and helps them develop more accurate bids for foreclosure sales and initial listing prices for REO properties, the company adds.
