Nations Valuation Services

Transcription

1 Information Guide NVS Ohio - Phone: (866) Fax: (866) Corporate Drive, Suite 100, Columbus, OH linkedin.com/company/nations-valuation-services facebook.com/nationsvaluationservices Nations Default Services (800) nationsds.com Nations Lending Services (888) nationsls.com Nations Title Agency (888) nationstitle.com World Wide Recording (800) wwrecording.com Nations Signature Closers (866) nationsclosers.com

2 About Us (NVS) was established in 1989 as a part of Nations Companies, a group of national real-estate information companies. NVS is a national real-estate appraisal management company formed with the objective of providing unbiased real-estate appraisals, Broker Price Opinions, and alternative valuation products to the lending industry. Nations Product Offerings Conventional Appraisals FHA Appraisals USDA Appraisals 203K Loan Program Appraisals Home Improvement Program Appraisals Reverse Mortgage Appraisals Brokers Price Opinions (BPO) Automated Valuations (AVM) Appraisal Reviews REO & Distressed Appraisals Reconciled Market Values Comp Locator Nations Advantages Over 20 years experience in valuation management and oversight 100% compliant with Dodd-Frank, AIR, and all State and Federal Legislation Licensed AMC in every state, nation wide coverage Licensed and Certified Appraisal Review Team Authorized UCDP Agent SSAE-16 Certified In-House IT and Development Team Direct connectivity to LOS or 3rd-party integrations

3 Advanced Technology from NVS Powered by NVS proprietary software, lender clients and consumers get the advantages of the latest technologies within the appraisal process. Real Time Appraisal Tracking Through our proprietary vendor/client interface and operating system, NVS is able to post real time updates as they are received from our appraiser partners through our PDA compatible vendor website. These updates are instantly posted to our NVS operating system, client website, and 3rd-party integrations, creating automated and fully customizable notifications sent direct to our clients. Fast, Easy Direct Integration Capabilities NVS partners with every 3rd party interface in the industry such as RealEC, FNC-AppraisalPort, Encompass, and many others. Don t want to use a 3rd party? NVS in-house development team has built over 50 custom direct integrations with Client LOS. Clients can also order directly from the NVS web interface to create a customized ordering solution. Customized Client Reporting Suite In the rapidly changing mortgage lending and servicing environment, NVS recognizes the needs of its clients to have up to the minute information available at their fingertips to increase market exposure and process efficiencies. With the ability to customize any type of appraisal report data and performance reporting, NVS is more than just a service provider. From cycle-time reporting to quality control and underwriting trends, NVS is a true partner and solutions provider of statistical data to our clients who are always on the go.

4 Nations Valuation Security and Compliance Information Services SSAE 16 Compliant AIR Exceeds all State and Federal Regulatory Standards Service and Security isn t just our Policy......it s our Commitment! Trustworthy Secure Reliable As an SSAE-16 certified company, NVS routinely verifies controls are in place for data storage and security, and is tested by a independent 3rd party to verify compliance. This certification provides clients with the peace of mind that sensitive client and consumer information is at zero risk of being compromised. In the unlikely event of a natural disaster or service center outage, NVS is tried and tested with full disaster recovery certification to ensure business continuity is maintained through one of our 3 operations center locations Nations uses secure backup servers to ensure high operational availability. Industry Certification and Compliance NVS understands the importance of Appraisal Independence. That s why our entire fulfillment process is designed with controls in place to ensure we exceed all state and federal regulatory requirements with both AIR, and all state regulations. NVS is licensed, bonded and insured as an authorized appraisal management company in all states who have mandated such legislation. NVS is a huge advocate for payment of Reasonable and Customary Fees to appraisers. R&C compensation is imperative in maintaining the most competent appraisers in every market. Through use of our active-national fee survey and by allowing our appraisers to set their own fees, NVS ensures compliance with Section 129E of the Dodd-Frank Financial Reform and Consumer Protection Act NVS has been independently audited through one of the nation s top firms to verify all of its controls and procedures meet or exceed the Appraisal Independence Requirements. WE ARE AIR CERTIFIED! Information Security With over five years of developmental experience, NVS is one of the most secure SAS 70 real estate information companies in the U.S.

5 Advantages of Using NVS NATIONWIDE COVERAGE Nations has been providing valuation products and services in all states and counties for over 20 years, with a local presence and strong geographic competency in all markets nationwide DECREASED LIABILITY Using NVS separates your loan production or servicing personnel from appraisal vendors, creating an arms-length relationship that reduces liability for your company. In addition, all appraisals provided by NVS meet state licensing requirements, and conform to the Uniform Standards of Professional Appraisal Practice (USPAP), as well as Freddie Mac and Fannie Mae Guidelines. Learn more about how NVS protects you through the NVS 100% Satisfaction Guarantee Warranty. INCREASED EFFICIENCY State of the art automation coupled with the efforts of our Vendor Management Team allow for increased efficiency with vendor communication. Working together with our Client Management Team, our clients are kept well informed through the entire process; including post-completion. Our proprietary operating platform identifies potential outliers which allows for our teams to effectively manage these exceptions. ABILITY TO PERFORM IN DIFFICULT AREAS With a panel of over 20,000 appraisers nationwide, NVS has earned a reputation for being able to perform in markets where others are not capable. With over 20 years of service in the appraisal management industry, NVS has long-standing relationships with our preferred panel of vendors that span nearly 2x as long as our competitors. These continued partnerships allow for NVS to continue to outperform our competition on a national scale. FAVORABLE COMMUNICATION NVS places great emphasis on the communication process with clients and vendors alike. Our automated notification system and smart-phone compatible software and websites allows for our vendors to update appraisal status directly from their mobile device. All status updates are communicated in real time via our client notification system, and can be customized to fit any client s specific preferences. Communication is imperative in any successful partnership and at NVS our goal is to ensure the proper expectations are set from start to finish. SPEED AND ACCURACY OF PRODUCT DELIVERY In today s mortgage market, EVERY order is a RUSH. NVS speed and accuracy of product delivery is a result of our experience, accountability of our vendors, and full transparency with our clients. The partnerships we have established with our appraisers over the last 20 years provide NVS with a distinct advantage over other AMC s. The average tenure of our panel of appraisers is nearly 8 years, longer than most AMC s have been in business. Through our prompt automated-payment system, longevity of our vendor partnerships, and superior communication systems and quality control process, NVS ensures an Underwriter Ready appraisal over 90% of the time, eliminating a time-consuming and often costly dispute process. INCREASED REPORT ACCURACY AND DATA VALIDATION NVS maintains 100% of their Quality Control in house; nothing is outsourced. Heavily staffed with certified and licensed appraisers and appraisal apprentices, we ensure the highest level of accuracy through our in-depth quality review. All valuation products are run through a 3-stage QC process to ensure the highest level of accuracy. With access to a multitude of real estate data sources, as well as our proprietary Risk Profiler Intelligence System, our Quality Control Team is well equipped with the tools necessary to properly analyze and confirm accuracy of all completed products. COMMITMENT TO TECHNOLOGY The NVS proprietary Operating System, AppraisalTRAX, is 100% homegrown and is constantly updated and upgraded with our in house IT and Development staff to meet the ever-changing needs of our clients. Appraisal- TRAX enables lenders and vendors alike to monitor orders from online, from their mobile device, via text, and web-notifications. In addition, NVS offers a fully customized reporting suite based on the individual needs of each client on the go. With relationships spanning nearly 10 years with 3rd party interfaces such as RealEC, FNC-Appraisal Port and Encompass as well as over 50 customized direct LOS connections, we ensure fast and seamless integrations.

6 Vendor Management Vendor Partnerships Over the last 20 years, NVS has developed strong relationships with a national panel of over 20,000 active appraisers. Nations success is a result of our experience, accountability of our vendors, and our commitment to appraiser quality through panel education. We work very hard to improve quality at the core through proper vendor management and strict measurement of geographic competency, as well as the use of our detailed appraiser scoring process and its application to ensure proper vendor selection on every assignment. This further translates into improved relationships with vendors; the average tenure of our panel of appraisers is nearly 8 years. Management of our panel and holding our appraisers accountable for the actions is both intricate and invaluable. Vendor Quality and Scorecarding Vendor scorecards are updated with every report submitted, using a detailed proprietary quality/ service metric based on report quality, communication, and adherence to our strict engagement letter standards time lines. Every order, every appraiser, and every appraisal company is scored in real-time, ensuring that up to the minute figures are made available to our vendor management team during the assignment selection process. Our proprietary appraisal operating system, AppraisalTRAX, ensures that all applicable guidelines and standard appraisal business rules are met prior to acceptance of the report on our website. By tying this scoring system directly into our appraiser selection process, this ensures a competitive environment and translates into higher quality reports for you and your borrowers, and ensures knowledge and experience with every assignment. Performance-Based Vendor Selection More than just a scoring tool, the NVS Vendor Scorecarding system enables an intelligence-based assignment process that ensures rating always comes first. Rewarding those who perform, the highest scoring vendor in each market is given exclusivity to the assignment via our automated assignment system, and can receive order alerts and accept orders on the mobile device right from the field. Highest scoring vendors receive first right of refusal Auto-rotation and balancing system through order capacity management Geo-competency assistance 100% ratings and SLA based AIR compliant Vendor Discipline and Mandatory Reporting Sometimes, appraisers don t play nice. With 30 different state and federal legislation requirements establishing vendor disciplinary and mandatory agency reporting standards, compliance with panel management can be a daunting task for any lender. NVS Vendor Disciplinary Action Review Committee was formed with the objective of managing the exclusion and disciplinary process for it s clients by creating an outlet for customer complaints and quality concerns. Spear-headed by our chief appraiser, NVS holds its vendors to the highest standards while remaining compliant with the changing legislative requirements. Managed by an NVS panel of staff appraisers, vendor management personnel, client representatives, and executives Summarizing all vendor disciplinary action and performance history Up to the minute scorecards on every appraisal to support any quality claims/concerns A due process appraiser rebuttal process to ensure fair and accurate processing of claims

7 NVS Appraisal Quality Control NVS implements a 4-stage Quality Control Review Process on every product received; blending automated-intelligence and XML Data Review, our proprietary Risk Profiler Assessment Tool, Platinum DATA RealVIEW and Collateral Expert Technology, and a 100% manual review of every file. XML Data Review Every file is time-sensitive. In an effort to aid our appraisers in avoiding simple mistakes, each appraisal uploaded to NVS vendor website is run through our automated XML Data Verification System prior to acceptance. Items such as Borrower Name, Address verification with USPS.com, Lender name and information, appraiser signature and form type, are just a few of the simple items that can create unnecessary delays. Along with dozens of other rules, NVS prevents appraiser s from uploading their completed reports without passing this simple yet valuable stage. This ensures that the quality control staff confirms the appraisal is factually accurate, logically developed, and adequately supports and communicates the estimated market value to the reader/user/client. NVS Risk Profiler Assessment Increased regulation on a state and federal level have given the word risk a whole new meaning. NVS recognizes the importance of proper risk management throughout order fulfillment, with an emphasis on appraisal report quality in our quality control process. Through use of our internally developed Risk Profiler Assessment software, NVS runs every appraisal through a multi-faceted rules engine, taking a blend of lender collateral risk guidelines coupled with industry standards to develop a risk score for each appraisal. This score determines potential re-purchase risk associated with the file, giving clients the peace of mind that appraisals for complex assignments, purchase transactions, USDA/203K loan programs, and over 50 different flags associated with any appraisal assignment are referred to the appropriately credentialed NVS Review Appraiser, with a focus on high risk analysis and rebuttal. Did we mention this can be customized? Tell us what risk means to you! Platinum Data RealVIEW and Collateral Expert Technology Even the very best QC Review Appraiser can use a little help. NVS has partnered with Platinum Data Solutions through use of the Platinum Data RealVIEW technology and Collateral Expert. RealVIEW extracts the XML data from every appraisal and provides the user with an easy to read HTML format, providing a sectionalized report card covering each section of the appraisal. RealVIEW reviews over 2500 USPAP guidelines, as well as UAD, ULDD, HUD and Fannie/Freddie requirements through verification of 1300 specific data points within each report. Additionally, clients can customize additional Underwriter specific requirements which are highlighted for the QC reviewer for ease of use. All checklist items are reviewed manually for a green light verification, ensuring any failures require an explanation from the appraiser. Need more information? Collateral Expert is a built-in comp locater and subject property data verification tool, ensuring that the information provided by the appraiser within the report is accurate and matches public record/mls.

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