Evaluations


Both reports fill in the information gaps that stand-alone tools leave open. With a comprehensive overview comprised of diverse indicators, RER and RER Express provide our clients with the following benefits:
  • Restricted Appraisal Report as defined by the USPAP
  • Assists lenders and servicers in meeting their compliance burdens under the December, 2010 Interagency Appraisal and Evaluation Guidelines.
  • Provides big picture market evaluation using multiple independent market indicators plus a certified residential appraiser’s market value assessment
  • Delivers a credible and cost-effective alternative to traditional appraisals
  • Decreases review time and increases staff productivity
  • Supplies rapid turnaround, typically five business days

Compliance diligence. Cost-effectiveness. Peace-of-mind.

  • As a USPAP compliant Restricted Appraisal Report, RER is a cost effective alternative to 2055 or 1004 appraisals. This makes it a logical choice for many decisions including:
    • Non-purchase loan originations such as refinances, 2nd mortgages and HELOCs
    • Foreclosures, REO sales, short sales and loan modifications
    • Non-BPO states where interpretation of state laws and/or regulations obligates lenders to use more expensive valuation products
    • Pricing mortgage pools



RER Exterior

Residential Evaluation Report (RER) Exterior – A USPAP-compliant valuation solution designed to meet the changing needs of home equity lending. A certified appraiser reconciles up to five independent market value indicators and provides their opinion of value through the development of a Restricted Appraisal Report. The product also contains the required components of an Evaluation as indicated in the Interagency Guidelines. An exterior RER only assumes the interior condition of the subject property based on an exterior view from the street by a licensed real estate professional through a BPO provided to the appraiser for review.


RER Interior

Residential Evaluation Report (RER) Interior – A USPAP-compliant valuation solution designed to meet the changing needs of home equity lending. A certified appraiser reconciles up to five independent market value indicators and provides their opinion of value through the development of a Restricted Appraisal Report. The product also contains the required components of an Evaluation as indicated in the Interagency Guidelines. An interior RER includes verification, photographic documentation and inclusion of condition, upgrades and component descriptions through an interior BPO provided to the appraiser for review.


RER Express

Residential Evaluation Report (RER) Express – This USPAP-compliant valuation solution is an abridged version of the RER. Express includes an exterior physical inspection and delivers three market indicators to the appraiser for consideration and provides their opinion of value through the development of a Restricted Appraisal Report. The product also contains the required components of an Evaluation as indicated in the Interagency Guidelines. If an RER Express cannot be completed on a property due to a lack of enough market data, the product will be changed to a full RER for product fulfillment.


Commercial Evaluation

Commercial Evaluation Report (CER) - This Commercial Evaluation is a comprehensive, cost-effective alternative to traditional appraisals. The evaluation includes data such as market rents, income approach to value, listing and resale comparable sales and a site inspection with photos. The product contains the required components of an Evaluation as indicated in the Interagency Guidelines.