SAN ANTONIO and ALISO VIEJO, Calif. – SWBC Lending Solutions and Platinum Data Solutions have launched SureVal Property Analysis Report, an alternative valuation product powered by Platinum Data’s data and analytics engine that capitalizes on SWBC Lending Solutions’ recent acquisitions of Equi-trax Asset Solutions, LP and Quality Valuations Services (QVS).
According to the two companies, SureVal was created specifically for use in equity lending, as well as for originations that do not require a traditional appraisal, such as non-QM (non-qualified mortgage) transactions. It addresses lenders’ need for a property evaluation product that is more economical than a traditional appraisal, but more intricate and in-depth than an automated valuation model (AVM), the companies said.
“The Interagency Appraisal and Evaluation Guidelines require that lenders document their methodology for determining the condition of property for equity lending transactions that qualify for the appraisal exemption,” the companies said in a statement. “SureVal, which provides a detailed property snapshot that documents the property’s condition with an in-person property inspection, uses the accuracy of regression analysis along with the expertise of a local appraiser to provide lenders with a well-supported USPAP-compliant value conclusion.”