GSEs new Appraiser Quality Monitoring (AQM) process

Many of you have probably read about Fannie Mae’s plans to deploy a new Appraisal Quality Monitoring (AQM) process on January 6th, 2014. If not, we recommend that you read the details here.

In the coming weeks, we’ll be creating new tools for both TOTAL and WinTOTAL to help appraisers verify the consistency of key fields between reports prior to delivery. In the meantime, those appraisers who take advantage of the Comps Database in TOTAL and WinTOTAL can quickly and easily refer to previous uses of a property and verify the data consistency. If you’re not taking advantage of the Comps Databases in TOTAL or WinTOTAL, you can use the Comps Database Importer found in both TOTAL and WinTOTAL (see instructions below) to add all your comp and subject data to the database. The import process is fully automated. From there, you’ll be able to search all your properties so you can validate your data for consistency.

And, don’t forget to review the final PDF before delivery. You might even consider printing it for review. You’ll be surprised by what you catch when reading the report on paper.

For additional information and instructions on adding and searching properties in the Comps Database, please review the links provided below.

TOTAL:

Importing properties to your Comps Database – click here
Adding subject and comp data to your Comps Database – click here
Performing a property search in the Comps Database – click here

WinTOTAL:

Importing properties to your Comps Database – click here
Adding subject and comp data to your Comps Database – click here
Performing a property search in the Comps Database – click here