National Valuation Service Company Overview[1]
This document was uploaded by user and they confirmed that they have the permission to share it. If you are author or own the copyright of this book, please report to us by using this DMCA report form. Report DMCA
Overview
Download & View National Valuation Service Company Overview[1] as PDF for free.
More details
- Words: 1,350
- Pages: 6
National Valuation Service®, Inc. _______________________________________ Nationwide Appraisal Service Cooperative Overview _____________________________________________________________ National Valuation Service is a nationwide appraisal service company, Appraiser Co-operative and organizational Member of the NCBA (National Co-operative Business Assn.) We offer reliable solutions to satisfy the Home Valuation Code of Conduct (HVCC). Our organization solves the problems the mortgage banking industry faces regarding direct communication between Loan Production Staff and Appraisers. It is our mission and commitment to offer Clients the highest quality USPAP compliant appraisal reports while maintaining (HVCC) compliance. We are also committed to helping Independent Appraisers maximize profits.
Our team of
professionals will maintain an open door policy and proactively manage relationships with Fannie Mae, Freddie Mac and the Independent Valuation Protection Institute (IVPI) in order to insure the highest level of compliance. National Valuation Service is your one stop solution to streamline the appraisal process; •
Our platform centralizes all the tools necessary for Lenders and Appraisers to efficiently manage the appraisal process through one web-based interface.
•
Comply with federal regulations and guidelines and USPAP
•
We solve the appraisal management process frustrations caused by excessive inefficiencies and excessive costs associated with meeting compliance, fraud and valuation requirements.
•
Research – Allregs.com; ASC; Public Tax Records; Freddiemac.com; Fanniemae.com
Our secure web-based management system allows clients to order, track, and receive appraisals online, 24 hours a day, 7 days a week.
National Valuation Service, Inc. P.O. Box 690413, Vero Beach, Fl. 32969 Website: http://www.nvs.coop/ Email: [email protected] Phone: (786) 581-9171, (772) 978-0954; Fax: (202) 446-0885
National Valuation Service, Inc. P.O. Box 69043, Vero Beach, Fl 32969 (772) 978.0954 / (786) 581.9171 www.nvs.coop
National Valuation Service®, Inc. ______________________________________ Nationwide Appraisal Service Cooperative Client ____________________________________________________________ Order, Track, and Receive Appraisals Online National Valuation Service offers a secure, easy to use web based system. As a client, you can request appraisals, monitor their progress, and download completed reports anytime, through your personalized client portal. Our online system supports direct Fannie Mae File format import providing a mechanism for direct submission of orders thus eliminating redundant processes. In addition to our national database of thousands of licensed and certified Appraisers, Client provided appraiser lists are audited regularly to ensure compliance with FHCMC/FNMA, FIRREA, FHA and federal regulatory guidelines. Verification of licensing, insurance and / or qualifications is performed on all appraisers. Appraisals are assigned utilizing criteria outlined by the client. For example, license designation, skill level, area of expertise, coverage area, past performance, TAT and quality rating. Appraiser performance and work product is continually reviewed. We do not broadcast appraisal orders. We assign directly to the appraiser who completes the assignment and is accountable. Status updates are uploaded by Appraisers and forwarded so the client is informed and potential problems and delays are minimized. The client will be notified via e-mail immediately of any changes and updates from the Appraiser at the time of change or updates. The Appraiser will be notified via email immediately of any changes made by the client. Through their personalized portal, clients and Appraisers are able to view all requested orders and their status at any point in time. Once completed, appraisals are uploaded by means of the online portal and delivered to the client. Optionally, the client may select to run the report through our automated review process. The automated review process evaluates PDF reports based on an industry standard rule set, appraisal guidelines, and client specific underwriting guidelines.
National Valuation Service, Inc. P.O. Box 69043, Vero Beach, Fl 32969 (772) 978.0954 / (786) 581.9171 www.nvs.coop
National Valuation Service®, Inc. __________________________________________ Nationwide Appraisal Service Cooperative SAS 70 ____________________________________________________________ National Valuation Service web based IT system, inclusive of its SAS-70 security (Standards of Accounting) features have been integrated into banking systems for the past 10 years and is a truly comprehensive solution that enables lenders to guarantee compliance with current and future regulation. Statement on Auditing Standards (SAS) No. 70, is widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA).
A service auditor's
examination performed in accordance with SAS No. 70 ("SAS 70 Audit") is widely recognized, because it represents that a service organization has been through an in-depth audit of their control objectives and control activities, which often include controls over information technology and related processes. In today's global economy, service organizations or service providers must demonstrate that they have adequate controls and safeguards when they host or process data belonging to their customers. In addition, the requirements of Section 404 of the SarbanesOxley Act of 2002 make SAS 70 audit reports even more important to the process of reporting on the effectiveness of internal control over financial reporting. SAS No. 70 is the authoritative guidance that allows service organizations to disclose their control activities and processes to their customers and their customers' auditors in a uniform reporting format. The issuance of a service auditor's report prepared in accordance with SAS No. 70 signifies that a service organization has had its control objectives and control activities examined by an independent accounting and auditing firm
National Valuation Service, Inc. P.O. Box 69043, Vero Beach, Fl 32969 (772) 978.0954 / (786) 581.9171 www.nvs.coop
National Valuation Service®, Inc. ______________________________________ Nationwide Appraisal Service Cooperative
Appraisal Products
______________________________________________________________________ National Valuation Service offers a complete line of appraisal Products.
All appraisal orders are handled in full compliance with FHCMC/FNMA, FIRREA, FHA and federal regulatory guidelines.
FNMA 1004/FHLMC 70- Single Family Residential (Owner Occupied Properties) FHMA 1004/FHLMC 70 –Single Family Residential (Non-Owner Occupied Properties) FHMA 1004/FHLMC 70 –Single Family Residential (FHA) FHMA 1073/FHLMC 465- Individual Condominium Unit (Owner Occupied Properties) FHMA 1073/FHLMC 465- Individual Condominium Unit (Non-Owner Occupied Properties) FHMA 1073/FHLMC 465- Individual Condominium Unit (FHA) FNMA 1025/FHLMC 72- Small Residential Income Property Report FNMA 1025/FHLMC 72- Small Residential Income Property Report (FHA) FHMA 2090- Individual Cooperative Interest Appraisal Report FNMA 1004C/ FHLMC 70B- Manufactured Home Appraisal FNMA 1004C/ FHLMC 70B- Manufactured Home Appraisal (FHA) FNMA 2055/ FHLMC 2055- Exterior-Only Inspection Residential Appraisal Report FNMA 1075/FHLMC 466- Exterior-Only Inspection Individual Condo Unit Appraisal report FNMA 2095- Exterior-Only Inspection Individual Cooperative Interest Appraisal Report FNMA 2075-Desktop Underwriter Property Inspection Report FNMA 1004D/FHMLC 442 Appraisal Update and /or Completion Report FNMA 216/FHMLC 998- Operating Income Statement FNMA 1007/FHMLC 1000- Single Family Comparable Rent Schedule LAND APPRAISAL FNMA 2000/FHMLC 1032-One Unit Residential Field Review Report FNMA 2000A/FHMLC 1072- Two-to-Four Unit Residential Appraisal Report
National Valuation Service, Inc. P.O. Box 69043, Vero Beach, Fl 32969 (772) 978.0954 / (786) 581.9171 www.nvs.coop
National Valuation Service®, Inc. _______________________________________ Nationwide Appraisal Service Cooperative
HVCC Certificate SAMPLE _____________________________________________________________ Certificate ID : SAMPLE Certificate Date:
Certificate of HVCC Compliance Subject Property: National Valuation Service®, Inc. - an entity with no vested interest in the outcome of this real estate transaction certifies that through its technology platform, policies and procedures the appraisal report represented was delivered in compliance with the Home Valuation Code of Conduct (HVCC December 2008). The Client does not have any ownership or management interest in National Valuation Service, Inc. Key Process Points: All pre-qualification valuations were performed via AVM or independently without knowledge of or access to appraiser. The lender named on the appraisal report submitted the appraisal request form via our secure appraisal management platform which does not contain estimated value, loan amount or target values. Appraiser selection, both automated and manual, was performed in compliance with the HVCC regulations. All orders, except where explicitly documented, such as FHA orders, are arms length transactions where the lender is unaware of the appraiser’s identity until the final copy of the appraisal report is delivered. The appraiser is only provided the client name and address to facilitate appraisal form completion and is never provided the loan officer, processor or any other originating personnel contact information. The system prevents knowledge of and communication with the appraiser and documents all lender communications to promote compliance.
Click here to view the Process Log Click here to view the Appraisal Report
National Valuation Service, Inc. P.O. Box 69043, Vero Beach, Fl 32969 (772) 978.0954 / (786) 581.9171 www.nvs.coop
National Valuation Service, Inc. P.O. Box 69043, Vero Beach, Fl 32969 (772) 978.0954 / (786) 581.9171 www.nvs.coop
Our team of
professionals will maintain an open door policy and proactively manage relationships with Fannie Mae, Freddie Mac and the Independent Valuation Protection Institute (IVPI) in order to insure the highest level of compliance. National Valuation Service is your one stop solution to streamline the appraisal process; •
Our platform centralizes all the tools necessary for Lenders and Appraisers to efficiently manage the appraisal process through one web-based interface.
•
Comply with federal regulations and guidelines and USPAP
•
We solve the appraisal management process frustrations caused by excessive inefficiencies and excessive costs associated with meeting compliance, fraud and valuation requirements.
•
Research – Allregs.com; ASC; Public Tax Records; Freddiemac.com; Fanniemae.com
Our secure web-based management system allows clients to order, track, and receive appraisals online, 24 hours a day, 7 days a week.
National Valuation Service, Inc. P.O. Box 690413, Vero Beach, Fl. 32969 Website: http://www.nvs.coop/ Email: [email protected] Phone: (786) 581-9171, (772) 978-0954; Fax: (202) 446-0885
National Valuation Service, Inc. P.O. Box 69043, Vero Beach, Fl 32969 (772) 978.0954 / (786) 581.9171 www.nvs.coop
National Valuation Service®, Inc. ______________________________________ Nationwide Appraisal Service Cooperative Client ____________________________________________________________ Order, Track, and Receive Appraisals Online National Valuation Service offers a secure, easy to use web based system. As a client, you can request appraisals, monitor their progress, and download completed reports anytime, through your personalized client portal. Our online system supports direct Fannie Mae File format import providing a mechanism for direct submission of orders thus eliminating redundant processes. In addition to our national database of thousands of licensed and certified Appraisers, Client provided appraiser lists are audited regularly to ensure compliance with FHCMC/FNMA, FIRREA, FHA and federal regulatory guidelines. Verification of licensing, insurance and / or qualifications is performed on all appraisers. Appraisals are assigned utilizing criteria outlined by the client. For example, license designation, skill level, area of expertise, coverage area, past performance, TAT and quality rating. Appraiser performance and work product is continually reviewed. We do not broadcast appraisal orders. We assign directly to the appraiser who completes the assignment and is accountable. Status updates are uploaded by Appraisers and forwarded so the client is informed and potential problems and delays are minimized. The client will be notified via e-mail immediately of any changes and updates from the Appraiser at the time of change or updates. The Appraiser will be notified via email immediately of any changes made by the client. Through their personalized portal, clients and Appraisers are able to view all requested orders and their status at any point in time. Once completed, appraisals are uploaded by means of the online portal and delivered to the client. Optionally, the client may select to run the report through our automated review process. The automated review process evaluates PDF reports based on an industry standard rule set, appraisal guidelines, and client specific underwriting guidelines.
National Valuation Service, Inc. P.O. Box 69043, Vero Beach, Fl 32969 (772) 978.0954 / (786) 581.9171 www.nvs.coop
National Valuation Service®, Inc. __________________________________________ Nationwide Appraisal Service Cooperative SAS 70 ____________________________________________________________ National Valuation Service web based IT system, inclusive of its SAS-70 security (Standards of Accounting) features have been integrated into banking systems for the past 10 years and is a truly comprehensive solution that enables lenders to guarantee compliance with current and future regulation. Statement on Auditing Standards (SAS) No. 70, is widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA).
A service auditor's
examination performed in accordance with SAS No. 70 ("SAS 70 Audit") is widely recognized, because it represents that a service organization has been through an in-depth audit of their control objectives and control activities, which often include controls over information technology and related processes. In today's global economy, service organizations or service providers must demonstrate that they have adequate controls and safeguards when they host or process data belonging to their customers. In addition, the requirements of Section 404 of the SarbanesOxley Act of 2002 make SAS 70 audit reports even more important to the process of reporting on the effectiveness of internal control over financial reporting. SAS No. 70 is the authoritative guidance that allows service organizations to disclose their control activities and processes to their customers and their customers' auditors in a uniform reporting format. The issuance of a service auditor's report prepared in accordance with SAS No. 70 signifies that a service organization has had its control objectives and control activities examined by an independent accounting and auditing firm
National Valuation Service, Inc. P.O. Box 69043, Vero Beach, Fl 32969 (772) 978.0954 / (786) 581.9171 www.nvs.coop
National Valuation Service®, Inc. ______________________________________ Nationwide Appraisal Service Cooperative
Appraisal Products
______________________________________________________________________ National Valuation Service offers a complete line of appraisal Products.
All appraisal orders are handled in full compliance with FHCMC/FNMA, FIRREA, FHA and federal regulatory guidelines.
FNMA 1004/FHLMC 70- Single Family Residential (Owner Occupied Properties) FHMA 1004/FHLMC 70 –Single Family Residential (Non-Owner Occupied Properties) FHMA 1004/FHLMC 70 –Single Family Residential (FHA) FHMA 1073/FHLMC 465- Individual Condominium Unit (Owner Occupied Properties) FHMA 1073/FHLMC 465- Individual Condominium Unit (Non-Owner Occupied Properties) FHMA 1073/FHLMC 465- Individual Condominium Unit (FHA) FNMA 1025/FHLMC 72- Small Residential Income Property Report FNMA 1025/FHLMC 72- Small Residential Income Property Report (FHA) FHMA 2090- Individual Cooperative Interest Appraisal Report FNMA 1004C/ FHLMC 70B- Manufactured Home Appraisal FNMA 1004C/ FHLMC 70B- Manufactured Home Appraisal (FHA) FNMA 2055/ FHLMC 2055- Exterior-Only Inspection Residential Appraisal Report FNMA 1075/FHLMC 466- Exterior-Only Inspection Individual Condo Unit Appraisal report FNMA 2095- Exterior-Only Inspection Individual Cooperative Interest Appraisal Report FNMA 2075-Desktop Underwriter Property Inspection Report FNMA 1004D/FHMLC 442 Appraisal Update and /or Completion Report FNMA 216/FHMLC 998- Operating Income Statement FNMA 1007/FHMLC 1000- Single Family Comparable Rent Schedule LAND APPRAISAL FNMA 2000/FHMLC 1032-One Unit Residential Field Review Report FNMA 2000A/FHMLC 1072- Two-to-Four Unit Residential Appraisal Report
National Valuation Service, Inc. P.O. Box 69043, Vero Beach, Fl 32969 (772) 978.0954 / (786) 581.9171 www.nvs.coop
National Valuation Service®, Inc. _______________________________________ Nationwide Appraisal Service Cooperative
HVCC Certificate SAMPLE _____________________________________________________________ Certificate ID : SAMPLE Certificate Date:
Certificate of HVCC Compliance Subject Property: National Valuation Service®, Inc. - an entity with no vested interest in the outcome of this real estate transaction certifies that through its technology platform, policies and procedures the appraisal report represented was delivered in compliance with the Home Valuation Code of Conduct (HVCC December 2008). The Client does not have any ownership or management interest in National Valuation Service, Inc. Key Process Points: All pre-qualification valuations were performed via AVM or independently without knowledge of or access to appraiser. The lender named on the appraisal report submitted the appraisal request form via our secure appraisal management platform which does not contain estimated value, loan amount or target values. Appraiser selection, both automated and manual, was performed in compliance with the HVCC regulations. All orders, except where explicitly documented, such as FHA orders, are arms length transactions where the lender is unaware of the appraiser’s identity until the final copy of the appraisal report is delivered. The appraiser is only provided the client name and address to facilitate appraisal form completion and is never provided the loan officer, processor or any other originating personnel contact information. The system prevents knowledge of and communication with the appraiser and documents all lender communications to promote compliance.
Click here to view the Process Log Click here to view the Appraisal Report
National Valuation Service, Inc. P.O. Box 69043, Vero Beach, Fl 32969 (772) 978.0954 / (786) 581.9171 www.nvs.coop
National Valuation Service, Inc. P.O. Box 69043, Vero Beach, Fl 32969 (772) 978.0954 / (786) 581.9171 www.nvs.coop
Related Documents
National Valuation Service Company Overview[1]
July 2020 3
Crash Course Company Valuation
May 2020 9
Private Company Valuation
June 2020 8
Service-national
July 2020 9
How To Valuation A Company
November 2019 23