Coaster Appraisal Group announced it’s expanding the company’s full services to the reverse mortgage industry.
The nationwide appraisal management company already has a group of clients that includes Genworth, Reverseit, Live Well Financial, Generation Mortgage and more.
“We have always has a big steak into the reverse mortgage community and we felt it was necessary to have a team focused solely on handling the reverse mortgage appraisal side of the valuation process,” said Brian Coester, CEO of Coester Appraisal Group.
The company offers senior borrowers the ability to use its ValueSafe appraisal program to obtain an accurate estimate of market value for their property without paying for a full appraisal. Using the ValueSafe program, the borrower pays $100-150 and the order is assigned to a local appraiser to perform the analysis on the property using the local MLS data sources.
If the value is sufficient to support a loan, the money is applied to the cost of a full appraisal. If the value is not high enough to support a loan than the borrower has only spent $100 – $150 instead of $450 and everyone can dismiss the possibility refinancing on good terms said the company’s website.
”Coester which has special appraisal programs such as the ValueSafe appraisal program as well as the special pricing has been reverse mortgage friendly for many years,” said Coester.