Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology aiming to create a more transparent and accessible real estate lending ecosystem, has launched two new desktop appraisal review products. Retrospective Appraisal Credibility Review (RACR) and RACRPro are desktop appraisal tools that validate the credibility of the original appraisal value by aggregating and analyzing supplemental data points. The RACR products allow stakeholders throughout the lending cycle, from first lien origination in the primary market to portfolio management and the secondary market, to make decisions with confidence.
RACR and RACRPro leverage the Voxtur Verified property database to generate a detailed analysis of an original appraisal, including a score of A to F. Reviewers can use this information to provide a revised value if they find the original to be inaccurate or stale. These tools were designed around USPAP standards and guide the reviewer through a series of required affirmations, including 24 distinct variables. Every RACR review is completed by a USPAP-trained QC Analyst and every RACRPro review is performed by a state-licensed appraiser.
“With commitment from the GSEs to modernize appraisals, we continue to provide more efficient, transparent, and lower-cost valuation options for the underserved secondary mortgage market,” said Jim Albertelli, CEO of Voxtur. “Our digital culture continues to enhance the consumer experience by reducing inefficiencies and supporting the implementation of solutions to lower the cost of homeownership.”
The Voxtur RACR products facilitate more efficient appraisal options with a focus on compliance. RACR and RACRPro are available in all 50 states.
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