New Tool Ensures Compliance With Interagency Guidelines
Nationwide Property & Appraisal Services LLC (NPAS), the Appraisal Management Company (AMC), has introduced Merge AVM Reconciliation, a solution designed to help lenders effortlessly meet the requirements of an Evaluation under the Interagency Guidelines for Appraisals and Evaluations.
Merge AVM Reconciliation streamlines the evaluation process by utilizing a pre-built and benchmark-tested Automated Valuation Model (AVM) cascade. The product combines this cascade with a comprehensive Property Data Report and reconciles both to provide lenders with a seamless evaluation solution.
What sets Merge AVM Reconciliation apart from similar products in the market is its ability to accommodate exterior and interior data collection using state-of-the-art data collection technology. The reconciliation form, designed to be user-friendly, takes just a few minutes to review, saving valuable time for lenders and allowing for faster turnaround times.
“Our objective with Merge AVM Reconciliation is to provide lending institutions, banks, and credit unions with an efficient, cost-effective, and compliant solution for low-risk transactions,” said Mike Kirk, Chief Innovation Officer at Nationwide Property & Appraisal Services. “With Merge AVM Reconciliation, lenders can expect lower costs, fast turnaround times, and best-in-class AVMs, making it the ideal home equity and portfolio management solution.”
Merge AVM Reconciliation incorporates cutting-edge technology to enhance the data collection process. Users can choose from multiple options, including exterior-only, exterior/interior, and floorplan-only data collections. Additionally, state-of-the-art scanning technology allows for optional floorplans with accurate measurements, ensuring precise property assessments.
Client satisfaction demonstrates the value and effectiveness of Merge AVM Reconciliation. “Our clients love the ability to save money and time when an upgrade needs to be made to our Pinnacle Desktop Appraisal since the same Property Data Report can be utilized,” said Mike Moore, Chief Revenue Officer at Nationwide Property & Appraisal Services.
Merge AVM Reconciliation is now available, providing lenders with a comprehensive and compliant evaluation solution. NPAS, as a pioneer in the appraisal industry, continues to expand its coverage and strengthen its team, cementing its position as the industry leader in service, turn-time, and quality.
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