Pro Teck rolls out new appraisal, risk review tool for mortgages
Pro Teck Valuation Services rolled out its new Appraisal Risk Review (ARR) product for mortgages being purchased into conduits or packaged into securitizations.
Pro Teck's ARR is designed to measure accuracy, compliance and risk factors into appraisals.
The company says ARR can be used to determine risk and compliance, measure and compare value, recommend further due diligence based on client preferences and needs, and set an objective score for workflows.
"Pro Teck is pleased to announce the availability of the Appraisal Risk Review for investors who are reviewing loans to place into securitizations or conduits," said Tom O'Grady, CEO of Pro Teck Valuation Services. "The heightened regulatory and risk environment has increased the need for a defendable and actionable Appraisal Risk Review product with the expertise of a USPAP compliant appraiser and objectivity of integrated market data and analytics."