First Valuation, a full service residential and commercial valuation service provider, is helping mortgage lenders and servicers evaluate property and neighborhood conditions following Hurricane Irene. The company’s Professional Property Inspection (PPI) report provides insight into subject property condition, neighborhood condition and other property information including current photos of the property.
First Valuation’s Professional Property Inspection reports are designed to obtain the most current and accurate exterior condition of a property. The company utilizes its network of more than 65,000 real estate agents and brokers to visit the property and provide up-to-date information on the current condition of the property. While the reports are widely used in mortgage origination and loan servicing, lenders have found them to be very beneficial to verify a property’s condition following hurricanes, tornados, fires, earthquakes and other natural disasters.
“When these types of weather events occur, our clients often have a need to verify the current condition of properties for loans in their pipeline and for properties in their mortgage portfolio,” said First Valuation president Michael Richardson. “Our Professional Property Inspection report provides them with a quick, inexpensive and effective method to evaluate these properties and mitigate their risk.”
The Professional Property Inspection report is based on a “Pass” or “Fail” analysis to enable easier manual determination or automated decisioning when determining the condition. Beyond the pass/fail analysis, the report provides detailed neighborhood information, market trends and answers more than 20 questions on subject and market condition. The report also includes mapping of the property and notes from the agent in the field. Among the photos included in the report are subject front view, address verification and street view. During the visual inspection of the property, if significant damage is identified, a more detailed inspection is recommended.
First Valuation has combined timeliness along with their award-winning V3 technology and superb customer support to become a market leader for their Professional Property Inspection report. The company’s products and services include property inspection reports, Broker Price Opinions (BPOs), appraisals and other valuation solutions.
About First Valuation
First Valuation is an industry leading valuation services provider. Launched from the foundation of its sister company BrokerPriceOpinion.com, which was founded in 2004, First Valuation provides highly customized nationwide valuation solutions that allow client specific rules and criteria to be included in its automated quality control process. The company offers both residential and commercial valuation products including BPOs, appraisals, automated valuation models (AVMs), photo and condition reports, retrospective valuations and review products. The company utilizes a combination of unique placement processes, local market experts, state-of-the art technology and expert quality review to provide the highest quality products in the market. For more information, please visit www.FirstValuation.comor call (303) 991-9919. The company’s social networking can be accessed on Linked In (First Valuation), Facebook(First Valuation) and Twitter (@firstvaluation).