Automated Value Model
Ideal for most loans, FirstClose's AVM instantly delivers estimated, high and low values, as well as a confidence score based on comps in that geographical area.
This proprietary product is completed by FirstClose's in-house evaluation team. It includes an automated value as the AVM, but the comps can be modified by our evaluation specialists. This can lead to a more accurate value and overall higher confidence score.
Drive-By Appraisal (2055)
An appraiser will inspect the exterior of a property and provide an opinion of value.
Property Condition Reports
A full external inspection of the home details the current state of the property, including photos from multiple angles and street address verification. The report also includes notes about the neighborhood and any visible damage. An interior report is also available with additional detail.
Using traditional and electronic methods, this product is USPAP compliant and delivers an opinion of value from a certified appraiser like traditional Fannie Mae forms such as 2055 and 1004, only at a much lower cost.
Full Interior Appraisal (1004)
An appraiser will inspect the interior and exterior of a property, then provide an opinion of value.
Leadership | FirstClose solutions, both through our web interface and our LOS integrations, offers lenders the efficiency and cost reduction tools needed to stay competitive in today’s market place. With the increasing regulations coming out of Washington, it's important for lenders to find new and improved ways to stay compliant, while keeping closing costs and turn-times to a minimum.Patrick McClain, CFO/COO, FirstClose