Mortgage services provider Consolidated Analytics has announced the launch of a reporting tool that allows mortgage buyers and sellers to better assess the integrity and accuracy of appraisals.
Consolidated Analytics’ Consolidated Collateral Analysis (CCA) is a collateral risk-reporting tool that assesses underlying appraisals by combining a licensed review appraiser's analysis and commentary with an intelligent and rules-driven risk score.
An alternative to ordering a full second appraisal, the tool provides mortgage buyers and sellers with an accurate and comprehensive analysis of a completed appraisal to determine its reliability and validity.
"Overreliance on outdated appraisal data could leave a loan buyer or seller in an unenviable position downstream, without the ability to recover losses," said Brian Gehl, president of Consolidated Analytics. "Our Consolidated Collateral Analysis solution adds another layer of scrutiny to the underlying collateral valuation so that clients can approach transaction decisions strategically, with the end result in mind."
"The accuracy and credibility of an appraisal is critical in transaction decisions," said Devin Demers, vice president of operations at Consolidated Analytics. "Our aim is to instill confidence in the valuation by verifying the accuracy of the underlying appraisal, or conversely, uncovering risks and abnormalities associated with property value, property condition and surrounding market trends."