First American eAppraiseIT, a member of the First American Corporation family of companies and a provider of real estate valuation products and services, has released ValueView, a new hybrid valuation product designed to help the reverse mortgage industry assess and monitor the value and condition of portfolio properties.
ValueView addresses a major concern of reverse mortgage lenders – the prospect that properties with reverse mortgages will, over time, fall into disrepair. Reverse mortgage customers frequently have properties requiring repairs, which can affect the lender's ability to sell the loan.
According to First American eAppraiseIT, ValueView is a low-cost, data-driven solution to monitor current market value and property condition after a loan has funded. It combines a drive-by inspection of the subject property with a valuation determined by two comprehensive automated valuation models. Lenders receive a current photograph and a concise on-site inspection report that answers questions concerning the property condition.
Source: First American eAppraiseIT