Inspection Based Waivers (IBW) are the newest GSE-approved appraisal waiver in the toolkit, offering a streamlined approach to property valuation by leveraging modern technology, historical valuations, and current market data. This method establishes the property’s true value efficiently and accurately.
Only data collection is required, eliminating the need for valuation or risking further price negotiations.
No risk of future buybacks, ensuring greater security for lenders.
Average 2-3 day turn times.
Reduces the opportunity for bias, prompting fair and impartial property valuations.
Reduce revisions and enhances quality control (QC)
Includes a Class Valuation Property Data Advantage report, which features:
Street scenes
Back-of-house property images
Floor plan
These elements satisfy GSE requirements, ensuring comprehensive property data collection.
Loan application is submitted to Desktop Underwriter (DU) or Loan Product Advisor (LPA)
The loan is assessed for eligible for an Inspection Based Waiver.
A detailed Property Data Advantage report is created, including additional property images required by the GSEs.
Inspection Based Waivers represent a significant advancement in property valuation, combining technology and data for reliable, efficient, and fair appraisal process.
Visually capturing the details of a property has never been easier than with INvision Capture®. This easy-to-use mobile app pairs with imaging technology that makes it possible for property data collectors to collect property imaging down to the smallest details – both inside and out.
Get full, true-to-life perspective through interactive tours of the entire property. Zoom in for a closer look at the details, or zoom out for the bigger picture.
Expect the most precise measurements for the most precise valuations.
Leverage advanced digital replicas of the property to speed transactions while ensuring accuracy.
For any concerns regarding an Appraiser Independence issue please reach out to us via email at air@classvaluation.com or give us a call at 248.955.9506.
For any concerns regarding an Property Data Collector Independence issue please reach out to us via email at pdcir@classvaluation.com or give us a call at 248.509.0231.
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