In December 2016, new regulations went into effect that allow certain classifications* of real estate loans to use non-traditional appraisal products to value properties.
An appraisal from the Simplified Appraisal Network is a USPAP compliant valuation that is signed by a licensed or certified appraiser. It's equivalent to a traditional appraisal, but typically costs less than $150 and can be completed in 7 days or less, anywhere in the US.
Many states are currently experiencing 10+ day wait times on traditional appraisals costing $500 or more in some cases. Simplified Appraisals saves you time and money on your loans.
Simplified has partnered with multiple vendors to offer nationwide coverage for appraisal solutions. We provide consulting, training, and order management support for loan processing to financial institutions across the country.
- Independent opinion of value generated by a state-licensed or certified appraiser
- USPAP compliant valuation report format
- Meets Interagency Appraisal and Evaluation Guidelines
If your appraisals are backlogged, or if you’d like to learn more about our appraisal products, please email our team at firstname.lastname@example.org, give us a call at 844-795-1812 x2, or visit simplified.com for more info.
- One-unit properties, including condominiums
- Principal residence, second home, and investment property transactions
- Limited cash-out refinance transactions up to a 90% LTV/CLTV for principal residences and second homes; up to 75% LTV/CLTV for investment properties
- Cash-out refinance transactions up to a 70% LTV/CLTV for principal residences; up to a 60% LTV/CLTV for second homes and investment properties
- Loan casefiles that receive an Approve/Eligible recommendation
Ineligible loans include any loan over $1M, all purchase loans and many refinance loans, except those specified above.