DataQuick Introduces AppraisalQ, an Appraisal and BPO Review Tool

<p><location value="LU/us.ca.sandgo" idsrc="xmltag.org">SAN DIEGO</location>--(BUSINESS WIRE)-- Today’s collateral valuation and review practices are not comprehensive and do not deliver high enough quality, increasing the potential for buybacks and higher default risk. Originators, servicers and appraisal management companies (AMCs) allocate significant resources to deploy manual, non-standardized and non-scalable appraisal and broker price opinion (BPO) quality control strategies, which lack an efficient or consistent method to identify loans that require full review versus those that require less costly summary evaluation. </p><p> In response to the gaping valuation review hole in the mortgage industry, <a href="http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.dataquick.com%2F&esheet=50022004&lan=en-US&anchor=DataQuick&index=1&md5=1b8d5efd60adbf8e2ee02e0effb2698e">DataQuick</a>®, a provider of advanced <a href="http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.dataquick.com%2F&esheet=50022004&lan=en-US&anchor=real+estate+information+solutions&index=2&md5=d97f860bd1af34a912284ded4fb80c77">real estate information solutions</a> powered by data, analytics and decisioning, announced today AppraisalQ, a powerful appraisal and BPO review tool. AppraisalQ evaluates and scores valuations based on 6 criteria: appropriateness of sales comps, sales comp adjustments, accuracy of property value, accuracy of assumed market conditions, administrative accuracy and potential fraud. </p><p> “AppraisalQ is the culmination of our company’s three strengths – high-quality data, innovative analytics and automated decisioning,” said <person>John Walsh</person>, president of DataQuick, “combined to meet our industry’s greatest demand and possibly most detrimental weakness in valuation evaluation.” </p><p> AppraisalQ is fully configurable, enabling clients to select and weigh the criteria that are most important to their business. Once the analysis is complete, AppraisalQ provides an overall evaluation of the appraisal or BPO, specific recommendations to guide the review process, and a full audit trail to defend against future claims of under- of over-valuation. </p><p> “AppraisalQ does more than offer data and numbers,” continued Walsh. “The tool provides specific recommendations to a lenders review staff that are configurable to specific business requirements.” </p><p> A demonstration of AppraisalQ will be running at the DataQuick booth #511 throughout MBA Annual in <location value="LU/us.il.chicgo" idsrc="xmltag.org">Chicago</location>. </p><p><b>About DataQuick</b></p><p><location value="LU/us.ca.sandgo" idsrc="xmltag.org">San Diego</location>-based DataQuick delivers advanced information solutions powered by higher quality data, innovative analytics and automated decisioning across a national footprint. The company drives better decision making and improved profitability for the real estate, mortgage lending and secondary investor markets. DataQuick’s integrated solutions include property data and analytics, appraisals and non-appraisal evaluations, flood determinations, mortgage credit reports, automated valuation models, automated decisioning software, title insurance and property information, property research portals and marketing tools. For more information, visit the company’s website at <a href="http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.dataquick.com&esheet=50022004&lan=en-US&anchor=www.dataquick.com&index=3&md5=67a6f0f8630e4fcb6d1ebcb0a557c2d3">www.dataquick.com</a>, on <a href="http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fdataquick-information-systems%3Fgoback%3D.fcs_GLHD_dataquick_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2&esheet=50022004&lan=en-US&anchor=LinkedIn&index=4&md5=cbcf4ee89ba291a8abb8d6cb12476480">LinkedIn</a> or on Twitter at <a href="http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Ftwitter.com%2F%23%21%2Fdataquick&esheet=50022004&lan=en-US&anchor=%40DataQuick&index=5&md5=c4230c142db6b86f19a592e089841ece">@DataQuick</a>. </p><p class="bwalignc"></p><p><img alt="" src="http://cts.businesswire.com/ct/CT?id=bwnews&sty=20111007005574r1&sid=acqr4&distro=nx" /><span class="bwct31415" /></p><p> For DataQuick<br /><person>Elizabeth McMillan</person>, APR, 678-781-7224<br />or<br /><person>David Jones</person>, 678-781-7238 </p><p></p><p>Source: DataQuick</p>