Real Time Appraisal Tracking
NVS is able to post real time updates from our appraiser partners through our proprietary vendor/client interface and operating system. 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 clients.
Fast, Easy Direct Integration Capabilities
NVS partners with most third-party interface in the industry such as RealEC, FNC-AppraisalPort, Encompass, and many others. Don't want to use a third-party party? NVS in-house development team has built over 50 custom direct integrations with Client LOS. Clients can also work 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 our 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.
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 "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 information provided by the appraiser within the report is accurate and matches public record/MLS.
Security & Compliance
Valuation Security & Compliance Information Services
As an SSAE18 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"!
All cancelations are subject to lender contractual fees based on timing of cancelation. When refunds are applicable, Nations Valuation Services will process the credit within 24 hours. Please take note that financial institutes can take up to 3-7 business days to process the transaction.
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 timelines. 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 higher quality report 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
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 its 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
NVS is a Trusted Source for Reverse Mortgage Appraisals
- Nationwide since 1989, NVS has the best Panel of Appraisers in the industry for HECM loans
- Appointments are set quickly and at the borrower's convenience
- Timely and respectful Appraisers results in Professionalism & Borrower Satisfaction
Pre-Approved Appraiser Panels
As a national provider of valuation services for over 25 years, Nations Valuation Services (NVS) has become deeply rooted within the appraisal community, with an average tenure of over 9 years for our appraiser partners.
Coupled with our existing panel of over 25,000 appraisers, NVS provides our lender partners the ability to customize a preferred panel that will be subject to our vetting process and will be rotated based on performance and quality ratings which are applied through our proprietary scoring system.
Establishing a Pre-Approved Panel and Protecting You, the Lender, in the Process
Freddie Mac allows lenders to use a pre-approved list or panel to select an appraiser, provided that (1) any employees of the lender tasked with selecting appraisers for the list are independent of the loan production staff; and (2) the loan production staff is not involved in selecting appraisers from the list for particular appraisal assignments.
Because of the regulatory compliance surrounding the implementation of a pre-approved panel, NVS ensures that the proper protocols are followed as it pertains to; (1) who within the organization are selecting the appraisers, (2) the vetting of the preferred panel, and (3) the on-going scoring of the appraisers as well as any subsequent disciplinary action.
***Please note that notwithstanding any statement contained above, or anywhere on this website, NVS is committed to strict adherence to Appraisal Independence Requirements. All statements and associated policies are subject to change without notice in order to maintain compliance with state and federal regulations.***