Velox Valuations recently began providing UAD 3.6 appraisals across the markets it serves nationwide. In February, the company completed its first two UAD 3.6 assignments in California and Florida, according to a release.
The company prepared for the implementation of the new standardized reporting process over the course of several months, strategically leading programs to ready certified appraisers in the Velox Valuations network across 26 U.S. states.
The UAD 3.6 update is a significant overhaul designed to align appraisal reporting with current mortgage industry data standards and replace static GSE forms. To prepare its team,
Velox Valuations developed internal training programs that include micro-sessions and third-party coursework. The company also participated in software beta testing with a leading appraisal report writing software provider to formulate its new path forward.
"Our team understands the value of UAD 3.6 and what it takes to support our AMC and Lending customers and appraisers through this transition," Velox Valuations CEO Chad Barker said in the release. "With a strong workforce of employee appraisers and franchise owners across the country, we're focused on providing the operational and technical support they need to adapt confidently.
“We look forward to continuing to support our team members through this next chapter and continuing to raise the bar for the appraisal industry as a premier appraisal-firm," Barker added.
Velox will also launch QVEdge in the second quarter in select markets, a proprietary appraiser-assisted automated valuation tool designed to support both HELOC (Home Equity Line of Credit) lending and non-lending valuation needs.
QVEdge combines advanced technology with the expertise of licensed appraisers to deliver more reliable and defensible value conclusions than standalone AVMs, strengthening the consistency and credibility of Velox's valuation services across all markets.
In line with the new advancements, Velox is also awarding franchises to experienced Certified Residential Appraisers and entrepreneurs in major metro areas across the country. Ideal candidates are motivated, detail-oriented and eager to advance their careers in a supportive, tech-driven environment.