ValuTrac Software, which offers appraisal management software for both residential and commercial valuations, recently launched an automated appraisal review product called SnapShot.
This new appraisal review tool is available through the company’s ValuTrac Pro and ValuTrac Pro Plus offerings.
SnapShot was designed for organizations that want a faster, more streamlined automated appraisal review, the company says in a release.
It supports Fannie Mae appraisal forms 1004, 1073, 1025, 1004C and 2055, and can be set up to run automatically when appraisers upload an appraisal report.
SnapShot uses a streamlined, predefined set of rules, which vary based on appraisal form. Users have full control over all automated rules and they can also include manual review questions. Users can also set SnapShot to flag findings as hard stops or warnings, based on their quality assurance procedures.