In today’s ever-changing lending environment, rising origination costs and regulatory burdens are prompting lenders to look for reliable solutions that leverage convenience and speed at an affordable price — especially in the valuation space. With the expertise from of over 35 years in the business, Valuation Partners recognized the market’s need for a hybrid valuation solution and developed its Property Rx to meet that need.
“Lenders are hungry for an option that reduces valuation costs without sacrificing quality,” said Jon Forrester, Vice President of Valuation Services at Valuation Partners. “Our Property Rx platform accomplishes this beautifully by seamlessly integrating the valuation process with best-in-class inspection data and a national repository of market data to support our process.”
Owned and operated by appraisers, Valuation Partners provides vendor management, appraisal reviews, collateral assessment, broker price opinions and appraiser-assisted products to the mortgage industry through geographically competent appraisers in every state. With Property Rx, Valuation Partners deploys that robust appraiser network of appraisers to gather subject field data while deep analysis is contributed by a credentialed appraiser with geographic competency.
Property Rx supports a fully integrated valuation workflow, promoting seamless interactions between field inspection and the desktop appraisal data. Validated data sources are deployed with confidence and supplemented by statistical analysis.
“Our system allows us to deliver Property Rx products with a one-day turn time,” said Charlie Warr, SVP of Business Services at Valuation Partners.
The solution provides a single point of contact for an entire breadth of valuation solutions, ranging from basic AVMs to desk-tops to full appraisals.
However, unlike traditional valuation solutions, Property Rx can be deployed according to the lender’s risk evaluation on a loan-by-loan basis. Lenders can graduate to a more sophisticated valuation product in a seamless process, with no duplicated effort on the part of the lender.
“Lenders are often challenged in bringing on new partners for different valuation needs,” Jon Forrester said. “Our Property Rx platform is an end-to-end enterprise solution for every level of valuation.”
Where many industry solutions offer a mix of multiple standalone products, the Property Rx platform breaks the old-school mold to provide customers a fully integrated solution that allows for compliance with all state and federal requirements, as well as regulatory guidance. And field agents and appraisers are required to complete competency-based training modules prior to completing assignments.
“Clients trust the integrity of our legendary quality being embedded throughout the process. There is a reason we have been in business for over 35 years,” William Fall, CEO said. “We expect to provide dramatic productivity gains through the use of our solutions combined with deep industry talent.”
William Fall, MAI, SRA, ASA, Chief Executive Officer
William Fall is responsible for the overall performance of the organization. He is a 30+ year industry veteran who leads all aspects of growing The William Fall Group and Real Estate Valuation Partners. He is General Certified appraiser in 5 States and has participated on experience review and disciplinary committees for the Appraisal Institute. He is a member of the Collateral Risk Network, the Industry Advisory Committee of the Appraisal Foundation, and the Executive Committee of the National Appraisal Congress. He is a frequent speaker on industry issues.
Charles Warr is responsible for overseeing all technology-related activities including information security, software/product development and infrastructure. He participates with the Mortgage Bankers Association (MBA), the MISMO Property & Valuation Services Workgroup and is a member of the Appraisal Institute (AI). He has been an appraiser for over 20 years and is a principal in the firm.
Jon Forrester, Vice President, Valuation Services
Jon Forrester is the Vice President, Valuation Services for Valuation Partners, located in Toledo, OH. Forrester is responsible for overseeing the management of new valuation products for the company. Over the past 25 years Forrester has been focused on appraisal management for the lending community, as well as the development of the next generation of valuation products. He has also been instrumental in developing independent testing solutions for the use of Automated Valuation Models. These solutions support the development of collateral assessment cascades, which include property condition assessments, AVMs, evaluations, desktop appraisal reports, as well as traditional appraisals.