Risky Business

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 11 of 83

on the web With the original CompCruncher, appraisers were required to complete training in applied regression analysis to create the CVR. With CompCruncher 3's new functionality, that training is no longer required, as users are intuitively guided through the valuation process in a structured, methodical workflow. "CompCruncher 3 is empowering appraisers with the tools they need to overcome some of the biggest challenges they've seen since the mortgage crisis, including staying compliant and increasing their earnings," Bradford said. "This is a big milestone for appraisers. We're happy to be launching the industry's first computer-aided appraising technology." New Tool Shines Light on Reverse Mortgages Tech Effects Streamlining industry ops via the latest and greatest technology is helping all segments of the sector get— and stay—in sync. INSIDE THE INDUSTRY Bradford Technologies Creates One-Click Appraisal Tool Company looks to simplify the appraisal process while increasing efficiency. B radford Technologies Inc., a San Jose-based developer of interactive valuation analytics for appraisers, announced the launch of CompCruncher 3. 10 | The M Report The launch marks the third generation of the technology "that introduced statistical analysis into collateral valuations with the highly acclaimed valuation product, CVR (Collateral Valuation Report)," the company said. CompCruncher 3 is the industry's first computer-aided appraising technology. It introduces several new innovations, including seamlessly incorporating statistical support into traditional appraisal products and autogenerating appraisal reports with a single click. The upgraded tech also introduces a new "S" designation for appraisal reports such as the 1004S and 2055S. The designation signifies the appraisal has a statistically supported value derived by analyzing hundreds of properties, making it easier for appraisers to differentiate CompCruncher 3 appraisals from more traditional reports. "CompCruncher 3 adds the statistical analysis that increases an appraisal's accuracy while dramatically reducing the time it takes to complete the assignment," said Jeff Bradford, CEO of Bradford Technologies. "For lenders, that means lower risks with a more reliable appraisal. For appraisers and AMCs, it means delivering a superior product in less time." Company highlights reverse mortgages as an optimal financial retirement option. G eneration Mortgage Company has a new plan to reposition reverse mortgages as a more flexible financial retirement vehicle through an app planning tool called nu62. The tool graphically plots the correlation of home equity amount to personal consumption to home equity credit line growth over any period of time in a person's life after age 62. It also compares a reverse mortgage's performance to a traditional mortgage and clearly demonstrates a reverse mortgage's advantage, allowing brokers and consumers to knowledgably utilize it as a flexible financial resource. "Reverse mortgages were always positioned to give all eligible homeowners aged 62 and over an opportunity to tap into the available equity in their home as a financial resource," said Colin Cushman, president and CEO of Generation Mortgage and former director of portfolio analysis at the Federal

Articles in this issue

Archives of this issue

view archives of TheMReport - Risky Business