Tagged: DataMaster

Class Valuation Digitizing the Appraisal Process. Who's Thinking Hybrids? 3

Who Is Thinking Hybrid Appraisal?

“Digitizing the entire appraisal process”… what does this even mean? No more tape measures? No more typing? What exactly is being digitized that is not already digitized?… This is what Class Valuation appears to be doing to justify their actions. According to the article written by Richard Torne in Mortgage Professional America, Class Valuation has announced the acquisition of DataMaster. From the article: “We’re not replacing the appraiser, we’re empowering them” We share a common belief in the true path to the future, which is not to replace the appraiser but to empower them. Appraisers have had their fair share...

Verifying Property Sales Data Is Key Element in Doing Appraisals Correctly 10

Verifying MLS Shown Sales Price

Verifying property sales data is a key element and requirement in doing appraisals correctly… Verifying property sales data is a key element and requirement in doing appraisals correctly. We cannot just assume the MLS reports sale prices correctly. One aid to help do this is by using one of the ‘data download’ software providers which prefill many property data items in the report comparable grids. These companies have direct interties with the local MLS (most, not all across the US), and public data from either your jurisdiction recording or assessor office, or an amalgamation company such as Realist. Two ‘data...

Third Party Services Prohibited - Prohibition is Back! 24

Prohibition is Back!

AMC strictly prohibits the use of third party services. A recent review of an engagement letter from a large national appraisal management company revealed something pretty peculiar… “An appraiser is prohibited from using any third party services.“ Wait, What? No third party services? I am no attorney, and certainly do not know all the aspects of law, but it seems that the definition of third party services is pretty self-explanatory. To be sure I am not mistaken; I researched the definition of third party. FreeDictionary.com: “A person who is not a party to a contract or a transaction, but has...


DataMaster Releases Beta UAD Compliant Version

DataMaster has recently released a beta UAD compliant version, called DataMaster Plus. With the new DataMaster Plus, all of the imported information is “UAD compliant” and in the proper format. No need to translate MLS data to meet the UAD standards. DataMaster Plus does this automatically. To learn about DataMaster Plus and its features, register for the webinar. The webinar includes: Brief overview of UAD. How DataMaster handles the UAD requirements. How to customized your DataMaster to fit your requirements. How to build profiles for different lenders and clients. DataMaster is offering a free 14 day trial and is available...

DataMaster Tutorial 3

DataMaster Tutorial

DataMaster is a software that works hand in hand with the following appraisal software: WinTotal, ACI, and ClickForms. It auto-populates MLS data and/or Public Records data directly into appraisal reports. These records are compared giving the appraiser the ability to decide which source to use. DataMaster also calculates the Fannie Mae 1004 Market Conditions Report, and transfers that information directly into the appraisal form (1004MC). By electronically transferring data, re-typing of data is eliminated, reducing time spent on an appraisal report. With little user input necessary, it populates the Subject, Comparable Sales, Rentals, and Listings Grids of an appraisal report in...

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