FCT’s Valuation Solutions – how we can help minimize service interruptions
As FCT continues to closely monitor the COVID-19 situation during these unprecedented times, we want to ensure that our appraiser partners and lender customers have viable alternative valuation solutions available to them. We are aware of the important role we play in being able to provide essential products and services and as such, we continue to take the necessary steps to ensure continuation of services.
FCT has been communicating with the Appraisal Associations and preparing for the various ways the virus may impact valuations. We are here to help. FCT’s robust alternative valuation solutions focus on preventing and minimizing service disruption through our automated products. Our approach uses proprietary, data-driven, automated technology and is coupled with the expertise of the best appraisers in the industry. Together with our valued appraiser partners, we can provide lenders with optimal solutions, quick turnaround times and enhanced risk mitigation, all while ensuring service interruptions are avoided and your transactions can close as scheduled.
FCT is the only provider to offer Property Valuation Indemnity Insurance (PVII) on all FCT valuation products.* Our Valuation insurance policy insures the property value at the time the transaction is completed. Based on current lender experience and recent modelling, our product suite can return an insured valuation on over 70% of qualifying transactions without sending an appraiser to the subject property. Our automated products are returned within seconds, and our industry leading FLEX product can be returned to you within four hours.
Given these extraordinary circumstances surrounding COVID-19 and recognizing that our landscape is rapidly changing, we are on standby and ready to support a quick implementation of any of our valuation products. Please feel free to reach out to FCT to discuss how we can help support your business continuity during this challenging time.
Stay safe and stay healthy.
Your FCT Valuation Solutions Team
Vice President, Distribution
Director, Valuation Solutions
*PVII is subject to FCT’s underwriting and defined pre-qualification criteria.
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