Metro-West Appraisal Co. said it plans to become a one-stop shop for alternative appraisal field work solutions. The firm’s goal is to aid AMCs by centralizing availability of its hybrid appraisal products and services, which are available across more than 80 major metro markets, the company announced in a release.
Metro-West Chief Operating Officer Brandon Boudreau expanded upon those goals.
“We have the expertise and the right team to do the heavy lifting in these alternative valuation situations,” Boudreau said in a release. “Not only are our prices sustainable, but our management team is there to support the process as the field adapts.”
The company’s plan is being launched following the introduction of a number of new services and processes that are gaining in popularity in the marketplace, providing clients with alternatives to the typical appraisal process.
Fannie Mae and Freddie Mac recently introduced new forms that bifurcate the appraisal process, known as property data collection and 1004Ps, and these processes create more affordable and effective evaluations, but many AMCs struggle to find appraisers who will conduct the field work for these alternative solutions due to lack of training, the company stated.
And that is where Metro-West plans to place its focus and help alleviate such problems, according to the release.