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What are the key elements a lender should know about the CVR report?

April 26, 2017cvr elements key Lender report

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What are the key elements a lender should know about the CVR report?

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• Replace AVMs, BPOs and Review with CVR; perfect for portfolio or de-minimus loans • USPAP compliant • CVR turnaround time is 24 hours, creating a CVR takes less than an hour • Multi-city testing confirm that CVR values come within 2-8% of URAR (with inspection) value • 12-month valuation forecast is applied to the concluded value • Appraiser is trained and tested before using CVR • Only a licensed and certified appraiser is allowed to create CVR reports