About Coester Appraisal
Group:
Coester Appraisal Group offers Nationwide Real
Estate Appraisal Services and Appraisal Management Services for
financial institutions. We are not only compliant with the HVCC, OTS
and OCC but ALL regulatory requirements for an arm's length
transaction appraisal.
Appraisal Management Company:
Coester is a national appraisal management
company specializing in FHA and HVCC Compliance. We offer the best
appraisal compliance solution available and would be happy to prove
it to you.
National Coverage:
We are a nationwide appraisal company and can
provide national appraisal services in all 50 US states, Puerto Rico
and Virgin Islands.
HVCC Compliance:
The Home Valuation Code of Conduct (HVCC)
established standards for solicitation, selection, compensation,
conflicts of interest and appraiser independence. It is effective
May 1, 2009, for any mortgage that will be sold to Fannie Mae or
Freddie Mac; Federal Housing Administration (FHA) and Federal Home
Loan Bank (FHLB) mortgages are not covered in the agreement but are
covered on a very similar agreement becoming effective Jan 1, 2010.
FHA Appraisal Compliance:
FHA Appraisal Compliance was put into place on
Feb 15, 2010 and is a requirement for all mortgage companies
participating in FHA loan programs. FHA Appraisal Compliance is
similar to the HVCC and establishes absolute lines of independence
for the mortgage community and appraisers.
Appraisal Management Software:
We have partnered with the best in the industry
to develop or own appraisal management platform. This flexible
appraisal management software allows us to tailor make an appraisal
management solution for all of our clients and vendors. There is
nothing to big or too small that we can't adjust. We are able to
integrate with any loan origination software or lender platform.
Real EC Integrated Appraisal Company:
We are one of a few appraisal companies to be
fully integrated with RealEC technologies. This platform is the
leading appraisal management platform for Wholesale Mortgage
business as well as traditional retail business and it allows the
lending institution to ensure the appraisal is delivered properly
and can integrated very easily into any loan origination software.
Fast Turnaround:
One of the most important thing is the appraisal
process is the turnaround of the appraisal. Some companies focus on
turnaround from inspection which is important, however if the
appraiser takes 3 weeks to get to the property getting the appraisal
24 hours afterwards is useless. Coester Appraisal Group consistently
average 4-5 business days Total Turnaround on appraisals nationally.
This is 1-3 days above the industry standard and is an extremely
valuable tool for your business.
Vendors:
We know no other company has more appraisers than
us because we have every certified appraiser in the United States.
Literally every certified appraiser in the United States is in our
national database. Our appraiser database consists of over 150,000
certified appraisers. If all of our vendors decided to hold hands in
honor of us it would reach half way across the United States of
America. We only use certified due to them having the possibility of
being FHA approved as well as most lenders requiring certified
appraisers on all loans.
Staff Appraisers:
We not only have national vendors but also staff
appraisers. We are a traditional appraisal company in the sense we
actually have appraisers that work just for us and do appraisals on
a regular basis. This gives us a tremendous advantage as we can
actually have someone from our offices stop what they’re doing and
go out and do the appraisal right away if required. There any many
appraisal management companies not owned or operated by actual
appraisers. This is a big problem as who would know better about
running an appraisal business than an appraiser?
Appraisals:
For over 30 years, appraisal services have been
the core of our business. Whether its a purchase appraisal,
conventional refinance, appraisal review or an FHA Appraisal, we
have experienced staff that enables us to deliver a superior product
to your company’s specifications. We carefully manage our
relationship between our customer service staff, review staff, and
appraisers to ensure the most accurate and professional report.
Appraisals are the back bone of the industry and having the most
accurate appraisal is the key to your success. We work hard to make
sure that you and your clients get the most accurate appraisal
possible. As a national appraisal management company we can deliver
appraisals for your company anywhere in the United States and can
handle any volume needed.
Full Appraisal 1004/1073/1055 - This is the most
common type of appraisal. It is designed for single family homes and
condos for lending purposes. It is extensively used by lenders and
other investors for purchases and refinancing purposes.
The appraiser's description of the physical
characteristics of the property and comparables will be obtained
from reliable data sources. There will be a thorough interior and
exterior inspection. The inspections take about half an hour to one
hour, depending on the size of the house.
Multi-Family 2-4 Unit - The Form 1025, "Small
Residential Income Property Appraisal Report" is designed for two to
four family income properties. It is extensively used by lenders and
other investors for purchases and refinancing purposes. The report
gives the reader a understanding of the subject's market value,
current rent, possible rent and operating income.
Exterior Only Appraisals 2055/1075 -
This report
form is designed to report an appraisal of a one-unit property;
including a unit in a planned unit development (PUD), or condo this
is based on an exterior-only inspection of the subject property from
at least the street. This report form is not designed to report an
appraisal of a manufactured home or cooperative project.
Desktop Appraisal:
Coester's desktop appraisal bridges the gap
between an Automated Valuation Model (AVM) and a drive-by appraisal.
These reports offer quick turnaround and the knowledge of an
experienced appraiser to determine cost-saving valuations.
Review Appraisals:
We offer a full line of desk and field reviews
for Quality Control as well as loss mitigation. The reviews can be
utilized post or pre-funding and can be a great tool for
underwriters and investors to get a professional opinion of an
appraisal.
Field Reviews - A more comprehensive look at the
original appraisal, this includes physically looking at the subject,
the comparables as well as having a detailed analysis of the
comparables, the judgment of the appraisers and overall
reconciliation of the previous appraisal.
Desk Review - Is typically ordered when the
original appraisal is in question and secondary information is
unavailable or conflicts the original appraisal. This can very often
be upgraded to a Field Review if the appraisal is in question. A
desk review is a good tool for jumbo loans validation as well as
evaluating potential fraud or inflated values. This can typically be
done in less than 24 hours.
Retrospective review - Retrospective review
usually takes place when a previous appraisal accuracy is
questioned. The review is done not based on the current value of the
property but rather what the value of the property was at the time
of the inspection and any inconsistencies that can be found in the
original report. The review is not to determine if the value is
still accurate however if it was at the point of the original
appraisal was completed the appraisal was reflective of the market
area.
Broker Price Opinions:
BPO's offer valuable insight to the subject's
market area and overall marketability. They are a low cost
alternative to an appraisal and can assist with asset pricing and
estimate a list price for the property. This can be particularly
helpful if the property is an REO or is going into foreclosure as
the agent is active within the market and understands what buyers
would look for within the market area.
Property Condition
Inspections:
Condition Inspections are
the ideal tool to help you quickly obtain the current external state
of your Property—whether it's the property's condition following a
major disaster, long-standing vacancy, or simply an efficient,
cost-effective means of gaining an external perspective. Our
Property Inspection offerings include: Condition conformity
inspections, post disaster inspections, and the traditional property
inspections.
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