APPRAISAL/APRAISAL REVIEW PROCESS

HomeVue attempts to make the appraisal and appraisal review process simple.  Many options are provided to streamline the appraisal process.

Appraisals:

• You can order your appraisal through ANY Appraisal ManagementCompany (AMC) you prefer.
• You can order your appraisal through one of our preferred vendors below.

*ProTeck Valuation Services

* LRes Residential Services

* US Real Estate Services

• The appraisal can be completed up to 120 days from funding.
• The appraisal does not have to be in HomeVue’s name.
• You can use a previously created appraisal not completed by an AMC.  These might require an additional fee as we will need to thoroughly validate the accuracy of the data and value.

Guidelines:

• Appraisals older than 120 days at funding will need a re-cert of value.
• HomeVue will not accept appraisals older than 180 days from original completion date.
• HomeVue adheres to all regulatory appraisal compliance statues.
• HomeVue does not allow broker owned or operated AMC’s to be used for the completion of the appraisal.

Third Party Appraiser Reviews/Broker Price Opinions (BPO’s)

• HomeVue reserves the right to order an appraisal review/BPO at its sole discretion and in most cases one will be ordered on every appraisal submitted.
• In most cases, HomeVue will incur the cost of the review work to confirm the value from the appraisal.
• The appraisal review/BPO is ordered before loan documents are prepared as it provides HomeVue with the most current information to determine a property’s value.