Products and Services Qualifications for Using CompCruncher
what is required for training to produce Collateral Valuation Reports (CVR™)
CompCruncher™ is not a form–filler program. And it’s not an AVM. It is Computer-Aided Appraisal Software that puts you (the appraiser) in complete control of the valuation process and empowers you with the ability to create accurate, supportable valuations in record time. So to use it, it requires a little bit more than simple software training.
To use CompCruncher, you must be a member of AppraisalWorld, get trained on the software and learn about the analytics, statistics, and regression analysis. You must also pass a test and do 20 valuations to demonstrate competency.
AppraisalWorld Membership
Must be a member of AppraisalWorld
We have developed a set of services that form the infrastructure for ensuring the trust and reliability of the Collateral Valuation Report. In order to take advantage of those services, you must be a member of the AppraisalWorld.
As part of being a member of the network of appraisers qualified to provide CVRs, you will have a tremendous amount of resources available to help you learn and use CompCruncher. By joining AppraisalWorld, you ensure that you are connected to other members of the network, and all of the rich resources that help empower you.
Must have your Identity Authenticated
Identity Authentication is a critical step in combating appraisal fraud and we want to reassure all clients that you are who you say you are. It will help you get more jobs and help us promote you.
Mortgage fraud is big problem in the industry. If we can show that the appraiser's identity has been authenticated, everyone in the loan process can trust and rely on your valuation report. Furthermore, the Collateral Valuation Report will have the “On Document Verification” data matrix stamped on it, verifying to your clients that your identity has been authenticated.
Must store your Appraisal Credentials Online
The main reason for having your credentials online is to demonstrate to clients that you have the competence to perform CVRs and that you have taken the coursework and training to provide superior results to meet their needs. Secondly, by having your credentials online, you can get approved for a job quickly. Our directory promotes the appraiser with the most geographic competence, not necessarily the one that has been previously approved on a client’s fee panel. So to get that job, you need your credentials online in order to get approved quickly. In addition, once your credentials are online, they are easy to manage and updated. Plus you will be able to apply to over 180 AMC quickly and easily.
Must upload your Appraisal Report Work History
Geographic competence and local knowledge of the market is critical in producing accurate valuations. By uploading your work history (up to 1500 reports) our patent-pending technology analyzes all the appraisers in an area to determine who has the highest level of geographic competence for that area. The data from the report that gets uploaded is the address, the date, and report type, which does not violate USPAP. With this information, the AppraisalWorld directory can easily highlight your areas of competency and experience.
Appraising Experience
Must have more than 3 years of experience as a licensed appraiser
Initially, as we develop our network of appraisers, we need to leverage the appraiser’s experience. We have found that CompCruncher works best in the hands of a local, qualified appraiser, and we want to ensure that our network includes the best appraisers in the country.
Statistics and Regression Education
Must watch the video modules on statistics and regression and pass the final exam
Our education program contains an online course that provides the background you will need to understand the analytics that drive CompCruncher. We provide significant resources to our network members, including ample information on how the application works; how the analytics can be applied, and a statistics workbook that can help the appraiser understand the underlying concepts. At the end of the online course, there is a 50-question content mastery exam that ensures that appraisers have fully understood the training modules.
CompCruncher CVR Training
Must complete sample and local market CVRs using CompCruncher
Each assignment consists of doing a full valuation. We provide online training showing how the application works, including step-by-step instructions to arrive at a final report. We provide a series of modules that include hands-on training with an actual residential property. Each of the sample appraisals helps to build confidence and develop an understanding for the software and the dynamics of the market. The remaining assignments are properties in the appraiser’s market. Using online GoToMeeting computer access, our trained staff will provide feedback to ensure that the process is performed correctly.
Cost of CompCruncher Training
The initial cost to use CompCruncher is the cost of CompCruncher education and training which is priced at $699 and includes Appraiser's Portfolio.
CompCruncher System Requirements
- Required: Internet Explorer® 7 or newer
- Required: Window XP or PRO (SP3), all versions of Vista, Windows 7
- Required: Internet connection with DSL, Cable, or faster
- Minimum: Pentium® class 1.2GHz CPU and 2GB of RAM
- Software: Microsoft® Excel 2003 or newer
- Screen Resolution: 1152 x 864 or greater
- Your PC must have My Documents folder on your local C: drive
- * MAC (even running Parallels® or Boot Camp®) not supported
