Coester Appraisal Group Launches ValueSafe, an All New, High-Value Pricing Struc

ture
Company credits cost of desk appraisal when full appraisal on subject property i
s ordered.
Gaithersburg, MD - June 18, 2010 -- Coester Appraisal Group, a nationwide apprai
sal management company (AMC), has launched ValueSafe, an all new pricing program
that enables residential mortgage lenders to piggy back a full appraisal onto a p
reviously ordered desk appraisal, with all original fees paid being credited tow
ard the full appraisal price. ValueSafe, which is currently available to Coester
Appraisal Group s customers, offers lenders and servicers a cost-protected way to
take the first step in determining whether a full appraisal will be necessary o
n a given transaction.
Factors like a tenuous housing market, falling property values and heightened sc
rutiny of whole loan pools and portfolios have led to an increase in lenders and
servicers use of alternative valuation methods, which save time and costs when a
full appraisal is not yet necessary. Like traditional full appraisals, desk appr
aisals are completed by a local licensed or certified appraiser and are based on
the same logic as a traditional full appraisal. A traditional appraisal, howeve
r, includes a full interior and exterior inspection of the property, while a des
k appraisal does not.
Many lenders and servicers recognize desktop appraisals as a reliable, cost-effec
tive alternative to a full traditional appraisal, says Brian Coester, CEO of Coes
ter Appraisal Group. The issue arises when a full appraisal is needed on that sam
e subject property, after a desktop appraisal has been completed. Most AMCs woul
d charge the client for the full appraisal on top of fees they ve already paid, wh
ich seems like they re penalizing their customers for being diligent in their effo
rts to transact quality loans. At Coester, we believe that any effort to ensure
quality should be supported, not undermined. That s why we created the ValueSafe p
ricing structure.
With ValueSafe, lenders and servicers can order and receive a desktop appraisal
report, then decide to upgrade that valuation into a full appraisal, and they ll n
ever lose any time or money invested into the original desktop appraisal. Funds
paid for the desktop appraisal are applied toward the full appraisal since much
of the research, if still current and appropriate, can be utilized in the final
appraisal report.
ValueSafe has been the big rave among our lender beta testers they couldn t imagine g
etting a quick accurate valuation by a local certified appraiser and not having
to worry about paying double if they needed a full appraisal, says Coester. At Coe
ster, our focus is on bringing value to our clients and the industry. We re fortun
ate to have a team of very talented professionals, so thinking outside the box i
s completely natural for us. While other AMCs are still struggling with the stat
us quo, we ll continue to introduce innovative solutions. ValueSafe is a prime exa
mple of a solution that benefits the lender, borrower and appraisal industry. We r
e excited to be helping to rebuild trust for appraisal management companies amon
g the lending community.
About Coester Appraisal Group:
Coester Appraisal Group is a nationwide appraisal management company specializin
g in high quality appraisal reports that comply with all industry guidelines and
regulations, including HVCC, FHA Appraiser Independence and Fannie Mae s Collater
al Data Delivery initiative. The company is headquartered in Gaithersburg, Maryl
and and was founded in 1970 as a local appraisal company. The company has since
grown to a formidable force in the appraisal management segment, and has access
to a qualified network of 100,000 certified appraisers in 50 states. For more in
formation please visit Coester Appraisal Group online at www.CoesterAppraisals.c
om
Contact:
Brian Coester
Coester Appraisal Group
Gaithersburg, MD
(888) 485 - 1999 ext 2
Bking@coesterappraisals.com
http://www.coesterappraisals.com
http://www.appraisalnewscast.com
http://www.twitter.com/bcoester
appraisal company, Certified Appraisers, appraiser, market conditions