Bradford Technologies and Veros Software Offer AVM Valuations to Appraisers

Leading the way in offering the latest technology to benefit appraisers, we are pleased to announce that Bradford has integrated AVM technology into our ClickFORMS software. Working with Veros Software, a state-of-the-art AVM provider, we can now add an AVM report directly into an appraisal.

The procedure is similar to using our flood map service. ClickFORMS users just click on the Veros Valuation service from within the ClickFORMS application and the AVM report is automatically created for the subject and added to the appraisal report digital container.

To kick-off the introduction of the new VeroVALUE service, Bradford and Veros are currently offering free valuations to every appraiser so they can try the service and decide for themselves if it works for them.

Why are we doing this?

Our goal for almost 20 years has been to provide the very best in software and services that will improve the appraiser’s ability to do their job. AVMs are an emerging tool that we believe appraisers should have the opportunity to evaluate. We know that some of our competitors are trying to feed the fears surrounding AVMs, but we have chosen to give you the ability to see what’s really there – and what’s not. Where AVMs are concerned, only the individual appraiser can decide for him or herself if the technology is beneficial. We know that some appraisers will choose to use the technology, some won’t, and some already do. Who really benefits from encouraging fear of AVMs? Certainly not the appraiser.

FBI Announces New Arrests for Financial Institution Fraud

The FBI has announced action against a total of 205 individuals in the takedown of the largest nationwide enforcement operation in FBI history directed at organized groups and individuals engaged in financial institution fraud.

The ongoing initiative, known as Operation Continued Action, targets a variety of fraud schemes including mortgage and loan fraud, insider fraud, financial institution failure investigations, identity theft, check fraud and check kiting. Undercover teams are investigating the dealings of suspect mortgage brokers, appraisers, short-term investor, and loan officers.

In a recent operation, six individuals were arrested in Charlotte, North Carolina, and charged with bank fraud for their roles in a multimillion-dollar mortgage fraud. The operation was initiated in 2002 and resulted in the identification of fraudulent loans which exposed financial institutions and mortgage companies to potential losses of $130 million.

The number of open FBI mortgage fraud investigations has increased more than five-fold in the past three years, the FBI said. The potential losses are staggering, and many financial institutions are cooperating with investigators.

Builder Confidence Down, But Not Out in September

The National Association of Home Builders announced this week that following a strong bump-up in August, builder confidence in the market for new single-family homes edged down this month but remained within the narrow range maintained since this time last year, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The seasonally adjusted monthly gauge of builder sentiment registered a 68 for September, down three points from its month-ago reading.

“This is exactly on par with the index’s year-ago standing, and shows that, in the midst of a particularly devastating hurricane season, builder confidence is essentially unshaken,” said Bobby Rayburn, NAHB president and a home and apartment builder from Jackson, Miss. 

“Favorable financing conditions, sound house-price performance and reviving consumer confidence continue to propel the single-family market,” agreed NAHB Chief Economist David Seiders. “Builders are still reporting healthy demand for new homes across most markets, and that bodes well for sales in coming months.”

The NAHB/Wells Fargo HMI is derived from a monthly survey of builders that NAHB has been conducting for almost 20 years. Home builders are asked to rate current sales of single-family homes as “good,” “fair” or “poor.” They are also asked to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for responses to each component are used to calculate a seasonally adjusted index, where any number over 50 indicates that more builders view sales conditions as good than poor.

Following a four-point surge to 71 in August, the HMI dropped back three points to the same range it has been in for the past year. Two out of three of the component indexes – the one gauging current sales conditions and the one gauging traffic of prospective buyers – fell four points this time around, to 73 and 52, respectively. The component gauging expected sales in the next six months declined three points to 75. All are within close range of their year-ago standings in September 2003.

Time is Running Out on the Online Store Double AAdvantage Miles Offer

Don’t get left behind on our special Grand Opening double miles promotion. Renewing your ClickFORMS maintenance at the online store is convenient and easy, plus you get the added bonus of earning American Airlines AAdvantage miles.

Through the AAdvantage® program, you can earn discounts and free stays at leading hotels, discounts on rental cars and much, much more. By offering AAdvantage miles, we’re making your appraisal related expenditures work for you. Every time you make a purchase on our online store, you will be getting closer to award travel to over 880 destinations.

The Grand Opening double miles offer expires at the end of September. Starting in October and continuing through the end of the year, Bradford Technologies’ customers will earn one AAdvantage mile for every dollar they spend at the ClickFORMS store. That includes dollars spent for Maintenance Plus and Live Support renewals, as well as Flood Maps.

Drive safely while you're out inspecting. Don't forget to tell your friends about ClickFORMS.