Valuation

Our Advantage

TSI Appraisal, a division of Title Source Inc., is a leading Appraisal Management Company (AMC) providing a variety of valuation products and services nationwide. By facilitating over 450,000 appraisals annually, TSI Appraisal is one of the country’s largest AMCs utilizing industry “best practices,” advanced data analytic tools and an unparalleled commitment to excellent customer service. Every appraisal is audited to guarantee compliance with the Uniform Standards of Professional Appraisal Practice (USPAP), the Financial Institutions Reform Recovery and Enforcement Act guidelines (FIRREA) and 100% compliant with the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

Our Service

  • Nationwide network of over 20,000 state certified and licensed residential real estate appraisers
  • Automated quality control using appraisal rules engine for collateral integrity
  • 100% Appraisal Report Review
  • Issuance of Dodd-Frank Act Compliance Certificate with every report

Our Support

  • 24/7 online web access for status and support
  • Incorporation of client specific rules for assignment and review.
  • Multiple order placement/delivery options
  • Customized workflow solutions
  • Accounting/Billing

Appraisal Products

Traditional Products

  • Uniform Residential Appraisal Report (FNMA 1004)

    (FNMA 1004)

    The most comprehensive single family collateral assessment report, completed by a licensed or certified real estate appraiser. Complete interior and exterior property inspection.

    • Detailed comparable sales grid and related quantitative cost adjustments
    • Specific estimate of market value
    • Front, rear, and street scene photo(s) of the subject
    • Exterior photos of comparable sales, location map and floor plan sketch
    • USPAP compliant; appropriate for use with any federally related and secondary market transactions
  • Manufactured Home Appraisal Report (FNMA 1004C)

    This appraisal is designed for one-unit manufactured homes; including a unit in a planned unit development (PUD), based on an interior and exterior inspection of the subject property.

    • Front, rear and street scene photo(s) of the subject
    • Interior subject photos of kitchen, bath and main living area
    • Front photo(s) of the comparable sales
    • A street map depicting the location of the subject property and comparables
    • Building sketch of the subject
  • Residential Income Property Appraisal Report (FNMA 1025)

    (FNMA 1025/FHLMC 72)

    This is offered for two to four family residential property types that secure conventional first and second mortgage loans. It includes the physical inspection of the interior and exterior of the subject, and the exterior of each comparable.

    Exhibits include:
    • Front, rear, and street scene photo(s) of the subject
    • Front photo(s) of the comparable sales (optional)
    • A street map depicting the location of the subject property and comparables
    • An exterior building sketch of the subject with room locations identified
    • A signed Appraiser's Certification; and Operating Income Statement (FNMA 216)
  • Condominium (Co-Operative) Unit Appraisal Report (FNMA 1073)

    (FNMA 1073/FHLMC 465)

    This appraisal is specifically designed for condominium and co-operative units securing first and second mortgage loans. It includes the physical inspection of the interior of the unit and the exterior of the building, and the exterior of each comparable. The appraiser reports neighborhood, site, project and improvement descriptions.

    Exhibits include:
    • Front, rear, and street scene photo(s) of the subject
    • Front photo(s) of the comparable sales (optional)
    • A street map depicting the location of the subject property and comparables
    • An interior building sketch of the subject with room locations identified
    • Additional attachments (regarding investment properties are provided upon request for an additional fee) include an Operating Income Statement (FNMA 216)
    • A Single-family Comparable Rent Schedule (FNMA 1007) (only included if requested and will incur an additional fee)
    • A signed Appraiser's Certification

Government Products (FHA and VA)

  • FHA Uniform Residential Appraisal Report (FNMA 1004)

    The Department of Housing and Urban Development (HUD) requires appraisals for all FHA insured loans. The interior and exterior appraisal is completed by a state licensed or certified appraiser who is also on the FHA approved roster.

    • Front, rear and street scene photo(s) of the subject
    • Interior subject photos of kitchen, bath and main living area
    • Front photo(s) of the comparable sales
    • A street map depicting the location of the subject property and comparables
    • Building sketch of the subject
  • FHA Residential Income Property Appraisal Report (FNMA 1025)

    The Department of Housing and Urban Development (HUD) requires appraisals for all FHA insured loans. The interior and exterior appraisal is completed by a state licensed or certified appraiser who is also on the FHA approved roster.

    • Front, rear, and street scene photo(s) of the subject
    • Front photo(s) of the comparable sales (optional)
    • A street map depicting the location of the subject property and comparables
    • An exterior building sketch of the subject with room locations identified
    • A signed Appraiser's Certification; and Operating Income Statement (FNMA 216)
  • FHA Condominium Unit Appraisal Report (FNMA 1073)

    The Department of Housing and Urban Development (HUD) requires appraisals for all FHA insured loans. The interior and exterior appraisal is completed by a state licensed or certified appraiser who is also on the FHA approved roster.

    • Front, rear, and street scene photo(s) of the subject
    • Front photo(s) of the comparable sales (optional)
    • A street map depicting the location of the subject property and comparables
    • An interior building sketch of the subject with room locations identified
    • Additional attachments (regarding investment properties are provided upon request for an additional fee) include an Operating Income Statement (FNMA 216)
    • A Single-family Comparable Rent Schedule (FNMA 1007) (only included if requested and will incur an additional fee)
    • A signed Appraiser's Certification
  • FHA Manufactured Home Appraisal Report (FNMA 1004C)

    The Department of Housing and Urban Development (HUD) requires appraisals for all FHA insured loans. The interior and exterior appraisal is completed by a state licensed or certified appraiser who is also on the FHA approved roster.

    • Front, rear and street scene photo(s) of the subject
    • Interior subject photos of kitchen, bath and main living area
    • Front photo(s) of the comparable sales
    • A street map depicting the location of the subject property and comparables
    • Building sketch of the subject

Limited Scope Valuations ("Drive-by" Valuations)

  • Limited Scope Valuation - Quantitative Analysis Report (FNMA 2055)

    (Drive-By) (FNMA 2055)
    • Analysis of market data to arrive at an independent value estimate
    • Sales grid includes comparable sales data analysis and applicable adjustments
    • Front and street photos of subject property and exterior photo of comparables sales
    • Location map including subject and comparable sales
  • Limited Scope Valuation - Quantitative Analysis Report (FNMA 1075)

    (Drive-By Condominium) (FNMA 1075)
    • Analysis of market data to arrive at an independent value estimate
    • Sales grid includes comparable sales data analysis and applicable adjustments
    • Front and street photos of subject property and exterior photo of comparables sales
    • Location map including subject and comparable sales
  • Limited Scope Valuation - Qualitative Analysis Report (FNMA 2065)

    (Drive-By) (FNMA 2065)

    Qualitative analysis report, similar to FNMA 2055 but with no detailed value adjustment:

    • Front and street photos of subject property and exterior photo of comparables sales
    • Location map including subject and comparable sales
  • Property Inspection Report (FNMA 2075)

    (Drive-By) (FNMA 2075)
    • Exterior inspection completed by licensed or certified appraiser
    • Neighborhood description/site, comments on condition of subject property
    • NO VALUE RECCOMMENDATION PROVIDED
    • Front photo of subject property included

Review Products

  • Residential Appraisal Field Review Report (FNMA 2000)

    (FNMA 2000)

    The field review is completed by a licensed/certified appraiser on form FNMA 2000. The appraiser inspects the exterior of the subject property and comparables (from a public street). The review verifies that the original report was consistent with FNMA, FHLMC and USPAP guidelines. The report provides the reviewer's opinion of the acceptability of the original appraisal.

    Exhibits include front, and street scene photo(s) of the subject and a signed Appraiser's Certification.
  • Desktop Review (NARAMU 2006)

    (NARAMU 2006)

    The desktop review is completed by a licensed/certified appraiser on form NARAMU 2006. (There is no physical inspection made of the subject or comparables.) The review verifies that the original report was consistent with FNMA, FHLMC and USPAP guidelines. The report provides the reviewer's opinion of the acceptability of the original appraisal.

    Exhibits include a signed Appraiser's Certification.

Additional Products

  • Foreclosure/REO

    (FNMA 1004/FHLMC 70) (FNMA 1073/FHLMC 465) (FNMA 1025/FHLMC 72)

    This product is intended for residential foreclosure properties to determine the value of the property, to identify marketing problems and items of deferred maintenance, and to provide a subject to repair value based on the estimated cost to bring the property to a marketable condition. The appraisal includes the physical inspection of the interior and exterior of the subject, and the exterior of each comparable.

    Exhibits include:
    • Front, rear, and street scene photo(s) of the subject
    • Front photo(s) of the comparable sales (optional)
    • Photo(s) of needed repairs or three (3) interior photos of representative rooms
    • A street map depicting the location of the subject property and comparables
    • An exterior building sketch of the subject with room locations identified
    • Assigned Appraiser's Certification
  • Land Appraisal

    This report is used to communicate the estimate of market value of the subject property as defined in the Uniform Standards of Professional Appraisal Practice (USPAP).

    • Detailed comparable land sales grid and related cost adjustments
    • Specific estimate of market value
    • Front and street scene photo(s) of the subject
    • Front photos of comparable land sales and location map
    • Statement of Limiting Conditions and Appraiser’s Certification
  • RUVR (Restricted Use Valuation Report)

    This report is utilized for Portfolio Management, Quality Control/Due Diligence and/or Asset Valuation which established market value for non-origination purposes. This report is completed by a license, state certified or certified general appraiser on a form created by TSI Appraisal.

    • Limited information on three comparable sales and three comparable listings without adjustments
    • Estimated Value “As-Is” and the Suggested List Price "As-Is"
    • Subject front and street scene photo
  • RUDV (Restricted Use Desk Valuation

    This report is utilized for Portfolio Management, Quality Control/Due Diligence and/or Asset Valuation which established Market Value for non-origination purposes. The report is completed by a licensed, state certified or certified general appraiser on a form created by TSI Appraisal. No property inspection is performed.

    • Grid information on three comparable sales without adjustments
    • Opinion of Market Value
  • Re-inspection (FNMA 1004D)

    The Re-inspection is provided for clients after an appraisal has been completed per plans and specifications, or subject to repairs. The appraiser that completed the original appraisal makes a separate trip to the subject property to inspect for the specific items listed in the original report. Exhibits include a photo of the subject and a signed Appraiser's Certification.
  • Automated Value Model

    Title Source is proud to offer two innovative new products on our website: Our cascading Automated Value Model (AVM) and Value Preview (VP) products. Similar to an appraisal, these products provide a Value Report on your residential property. However, the difference is that these innovative tools use computer calculations based on local comparable data to determine the most accurate results. In fact, AVM is one of the most accurate residential property valuation reports available in the industry!

    AVM: A Closer Look

    The Title Source AVM delivers one of the most inclusive and accurate residential property valuation reports available in the industry. The Title Source AVM displays a value estimate, comparable sales listing, and location map, along with a confidence factor that reflects the extent of available data and accuracy of the value estimate. You will be able to customize requirements, so your results will be what your underwriters require. 

    The Benefits: The essential information available in the Title Source AVM report supplies a foundation on which your organization can comfortably make underwriting decisions, reduce collateral risk, establish equity positions and review the performance of your portfolios. You’ll get these exclusive results:

    • Up to 15 comparable neighborhood sales and significant landmarks
    • Advanced Confidence Score rating of valuation
    • Low and High property value range
    • Detailed map specifying subject property location and proximity of comparables

    Who it’s for: The Title Source AVM product is intended for a variety of settings in the course of lending, including origination, underwriting, quality control, servicing, portfolio review and default management. It is designed to improve accuracy and expedite the lending process for multiple users including mortgage lenders, brokers, appraisers and the investment community. 

    How it works: Through our integration with Hansen Quality, our AVM will connect to 15 different AVM providers to determine the most accurate results. The Title Source AVM utilizes property information from the industry's four leading AVM models. The AVM also produces the most accurate residential property value in the industry today and utilizes more than 20 years of historical property data and sales information from more than 1,100 U. S. Counties. All the data located in the cascading four AVM model is updated continuously, giving you the most recent data at all times.

    Value Preview: A Closer Look

    The Value Preview is meant to be a point of sale tool for quick estimates of your client’s home value. Call us for more information on this exciting new product! 

    Please consult your account manager to set up your account so you can start ordering the AVM products today. If you do not currently have an account manager please contact us at 888-Title-55 (888-848-5355) and ask to speak with an account care representative.

Contact Us

Interested in speaking with a TSI Appraisal representative about your collateral needs?

Call us at 888-614-2166 or e-mail us at AppraisalRelations@tsiappraisal.com