ValuFinders Inc., a Culver City, Calif.-based provider of valuation services to national lenders and government agencies, has developed a system enhancement to its Web-based appraisal ordering system, Appraisal CONCIERGE. The enhancement is in anticipation of the proposed Home Valuation Protection Code that will go into effect Jan. 1, 2009. This code was created to restore faith in the appraisal process, ValuFinders notes.
The new enhancement will comply with the code requirements of making a copy of the appraisal report available to the borrower. When the appraiser delivers the report to the lender, at the request of the lender, the Appraisal CONCIERGE system will automatically generate and send the borrower an e-mail with the appraisal report as an attachment. ValuFinders will offer this service free of charge.
‘The Home Valuation Protection Code can positively change the industry forever,’ states Joe Williams, CEO, ValuFinders. ‘Technology like The Appraisal CONCIERGE that operates on a blind draw system is the missing caveat that will ensure that everyone involved in the process is compliant.’