NVS Appraisal Quality Control
NVS implements two layers of review to EVERY appraisal ordered: comprehensive Platinum automation, and expert in-person review.
Automated Platinum Review
In conjunction with Appraiser Independence, USPAP, and FHA guidelines, NVS utilizes automated Platinum scrubbing technology in an effort to reduce back-end underwriting stipulations by utilizing a proactive approach to Appraisal Quality Control.
The Platinum Data Scrubber and Realview provides users with a sectionalized report card based on critical aspects of the data extracted from the appraisal. This automated, transparent appraisal review tool analyzes appraisals for compliance, completeness and consistency. Each appraisal file received is run through the automated scrubber prior to being accepted by NVS. The predetermined checklist of 10 items (Borrower name, Client name, Current owner, Appraiser name and license, As-of Date, Estimated market value, Form match, and Signature) are scrubbed and confirmed prior to NVS accepting the file. A second automated process to review 2500 USPAP guidelines and 1300 specific data points is then completed if the file passes the scrubber. Client’s specific guidelines can be customized to be included with every automated review.
Expert Manual Review
NVS maintains a team of over 150 staff appraisal underwriters on-site, including over 50 licensed appraisers who manually read and review every appraisal prior to delivery. This NVS Client Quality Control Review Team completes a manual review of both the errors and warnings produced by the scrub, as well as all client specific criteria. The NVS Quality Control Team then validates all information prior to accepting or declining the review. In the event the appraisal is declined the necessary correction requests are submitted to the appraiser by NVS for revisions to their original report, prior to submission to Lender.
With each AMC appraisal engagement letter sent to appraisers during order placement process, NVS also includes customized client specific appraisal requirements to ensure the NVS proactive approach to Quality Control, and a streamlined vendor communication process.
Secure Technology
In addition to governing body, and lender appraisal underwriting, Nations is proud to be certified as SSAE16 and SAS 70 compliant. All borrower and lender information for each transaction is held safely within a Fortune 100 secure environment. As a provider of information services to the largest US Banks, and cooperative efforts with the US government, NVS is among the most secure AMC companies in existence today.
Information Security of today requires back ground checks of all associates, cameras for interior and exterior work monitoring, paper file safety procedures, and most importantly system redundancies and server protection.
Learn more about the most secure technology in the industry.