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.
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.
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!
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 “sectionalize 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 locator and subject property data verification tool, ensuring that the inforamtion provided by the appraiser within the report is accurate and matches public record/MLS.