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First Valuation Launches New Retrospective Value Review Report

With the release of the Retrospective Value Review Report, First Valuation provides market data that reveals potential value misrepresentation.

PRLog - Nov. 7, 2011 - WESTMINSTER, Colo. -- First Valuation, an industry leading collateral valuation services provider, announces the release of its Retrospective Value Review (RVR) report. With this report, First Valuation provides a comprehensive view of market conditions for the subject as of an effective date, allowing a more in-depth review to determine the validity of a valuation.
First Valuation’s Retrospective Value Review (RVR) report is compiled by a local market expert to the subject property to include the original full detail sheets on each comparable MLS sale available retrospective to the time of valuation, and specific details pertaining to the subject property including tax records, MLS sales and listing history. The RVR is designed with complete ease-of-use functionality which streamlines the review process including an interactive directory which hyperlinks the report content and eliminates the need for time consuming scrolling.
The report is available in three levels, the RVR, RVR+ and RVR+ with Risk Rating, to suit the individual needs of each client.  The RVR itself contains all the data on the subject and comparables and all of the functionality that make it a unique solution for retrospective reviews. The RVR+ incorporates everything in the RVR but allows users to include comparables from a prior valuation into the report, allowing access to the original MLS data sheets and public records information for those comparables.
The RVR+ with Risk Rating provides the highest degree of analysis aimed to reveal or refute valuation misrepresentation.  This report includes every feature of the RVR, in addition to an analysis of a client provided valuation, such as an origination appraisal, that identifies red flags in the appraisal.  If risks are identified, the RVR+ with Risk Rating produces a value variance between the original valuation report and the actual market data for the subject property.    
“Launching this product allows First Valuation to identify misrepresentation or validate the information in past valuations,” said Michael S. Richardson, President of First Valuation. “By determining the validity of a valuation, we can assist lenders and investors with mitigating loss contributed to faulty valuations.”
Among the unique features of the series of RVR reports is the interactive Support Doc Portal, where users can interact with the data in the report and create a support doc PDF of only the information that is important to them.  The Portal allows the end user to view automated comp scores, custom star ratings of each comp as identified by the local market expert and easily sort information and select the information needed to generate additional unique reports.
Retrospective Valuation Review reports are completed by the company’s network of local market experts comprised of licensed real estate agents, brokers and appraisers, using the company’s data driven, award-winning V3 technology. Once the report is received in-house, First Valuation’s quality control team reviews every report to ensure accuracy, quality and consistency.  
“Our RVR reports provide lenders with detailed quality market and MLS data necessary to determine possible fraud or misrepresentation in original valuations,” said Richardson. “It’s a unique product to the industry that has the ability to change the way retrospective reviews are conducted.”
About First Valuation   
First Valuation is an industry leading valuation services provider.  Launched from the foundation of BrokerPriceOpinion.com, which was founded in 2004, First Valuation provides highly customized nationwide valuation solutions that allow client specific rules and criteria to be included in its automated quality control process. The company offers both residential and commercial valuation products including BPOs, appraisals, automated valuation models (AVMs), photo and condition reports, retrospective valuations, commercial valuations and reconciliation/review products. The company utilizes a combination of unique placement processes, local market experts, state-of-the art technology and expert quality review to provide the highest quality products in the market. For more information, please visit www.FirstValuation.com or call (303) 991-9919. The company’s social networking can be accessed on LinkedIn (First Valuation), Facebook (First Valuation) and Twitter (@firstvaluation).

Press Contact
Krista Bruce
Marketing Manager, First Valuation
(303) 991-9919

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Source:Krista Bruce
Location:Westminster - Colorado - United States
Industry:Real Estate, Property, Banking
Tags:First Valuation, valuation, appraisal, fraud, BrokerPriceOpinion.com, mitigating loss, retrospective value review
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