Prime
Business Solutions
Appraisal
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Prime
Appraisal Ordering & Review Outsourcing Services
We provide a full suite of residential, commercial, and specialized outsourced appraisal services to the real estate and mortgage banking industry nationwide. A real estate appraisal helps to establish a property's market value-the likely sales price it would bring if offered in an open and competitive real estate market. The Uniform Standard of Professional Appraisal Practice (USPAP), published by the Appraisal Foundation in 2003, defines an appraisal as "the act or process of developing an opinion of value; an opinion of value." Appraisals are used by mortgage lenders to ensure that the property value is adequate to support the requested loan. The property may be required to be worth more than the loan amount depending upon the lender's own criteria.
Prime Business Solutions provides of a full suite of residential, commercial, and specialized appraisal, title, and closing services/products to the real estate industry. Our valuation services consists of a comprehensive "non-traditional" approach to residential property valuation, bringing together the "best-of-class" intelligent valuation technologies, local market trending data, analytics, and core decisioning knowledge and expertise.
Our customizable service offerings can be easily configured to meet your individual business needs and price point constraints. All products, statistical thresholds, and decision based logic may be client defined. Our clients include lending institutions, mortgage brokers, investment banks, law firms, mortgage insurance, and mortgage servicing companies.
- Fannie Mae Appraisal Reports
- Broker Price Opinions
- Comparative Market Analysis
- Compliance
We prepare these streamlined appraisal reports in a manner sufficient with the underwriting expectations of Fannie Mae/HUD.
| Single Family Forms | |
| 1004 | Uniform Residential Appraisal Report |
| 2055 | Exterior-Only Drive-By Appraisal Report |
| 2075 | Property Inspection Report |
| 1004MC | Market Conditions Addendum to the Appraisal Report |
| 1004D | Appraisal Update and/or Completion Report |
| Condominium Forms | |
| 1073 | Individual Condominium Unit Appraisal Report |
| 1075 | Exterior-Only Drive-By Single Condominium Unit Appraisal |
| Manufactured Homes | |
| 1004C | Manufactured Home Appraisal Report |
| Investment Property Forms | |
| 1025 | Small Residential Income Property Appraisal Report |
| 216 | Operating Income Statement |
| 1007 | Single Family Comparable Rent Schedule |
| Cooperative Property Forms | |
| 2090 | Individual Cooperative Interest Appraisal Report |
| 2095 | Exterior-Only Inspection Individual Cooperative Interest Appraisal Report |
| Review Appraisals Forms | |
| 2000 | One-Unit Residential Appraisal Field Review Report |
| 2000A | Two-to Four-Unit Residential Appraisal Field Review Report |
One of the key areas where Prime Business Solutions works on is the creation and management of a Chain of Title for its clients. This clearly is the primary element in the Closing Process. We provide Current Owner, 2 Owner.
- Exterior inspection of the property
- Description of the property's exterior condition
- Three active listings
- Three sold properties
- Pictures of the property and street
- Estimated value based on normal and 30 day marketing times
- Location map
- Satellite map
- Exterior and interior inspection of the property
- Description of the property's exterior and interior condition
- Active listings
- Sold properties
- Homeowner Association details
- Pictures of the property, street scene and interior photos of all rooms and repair items
- Estimated value based on normal and 30 day marketing times, "as is" and "as repaired"
- Itemized list of repairs with cost to cure
- Location map
- Satellite map
We maintain policies and procedures compliant with Fannie Mae and Freddie Mac Appraiser Independence Requirements (AIR) and the Dodd-Frank Act of 2010.
In order to deliver high quality appraisal products which meet industry guidelines and ensure long term compliance, Prime Business Solutions continuously evaluates its policies and procedures and maintains rigorous training programs. As a fundamental requirement for the appraisal process, Prime Business Solutions maintains its independence from appraisers to ensure the delivery of accurate, market-driven valuation products. Prime Business Solutions will not influence the development, reporting, result or review of an appraisal that violates the spirit or intent of Federal, State or GSE guidelines.
