Services Provider First Valuation Officially Launches

*_Correction: The original article called First Valuation a mortgage lender. It has been changed to reflect that First Valuation is a valuation services provider._*

A new valuation servicers provider debuts with the company announcement that ""First Valuation"":http://www.firstvaluation.com/ officially launches operations Tuesday. The launch signals a change from a previous name, BrokerPriceOpinion.com, under which the company ran operations for much of the last decade.

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According to a statement, the newly rebranded company said that its new name ""more adequately reflects the role First Valuation plays in the industry as a leading provider of all types of collateral risk management solutions.""

""We have done a great job building first-in-class valuation products in addition to our BPOs,"" said Michael Richardson, president of First Valuation.
""We've offered these solutions for a long time and felt it was important to make sure our brand is representative of who we are as a complete valuation services provider.""

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While the name changes, First Valuation will continue to offer broker price opinions under the continuing BrokerPriceOpinion.com brand. Other products the company will make available: AVMs, valuations, review products, and condition and photo reports, according to the statement.

Proprietary information systems created by way of BrokerPriceOpinion.com will continue under the new brand and identity. By maintaining these systems, First Valuation will be able to provide current customers with existing technology, avoiding service delays in risk mitigation, compliance, and valuation strategies.

A state-of-the-art appraisal management platform will help the company authenticate completion, compliance, and quality control issues, even while licensed appraisers with First Valuation will continue to help guarantee quality of service for the company, the statement said.

""Our goal has always been to be first in valuation quality, timeliness and consistency,"" Richardson said. ""We think the name First Valuation reflects that goal.

""We hold ourselves to the highest standards. Our moral competency coupled with an expert understanding of collateral valuation allows us to provide the highest quality valuation products available in the industry,"" he added. ""Under the First Valuation brand, our products will continue to assist lenders in maximizing quality while preventing mortgage fraud and reducing repurchase requests on newly originated transactions,"" he said.

A valuation services provider, First Valuation takes over from BrokerPriceOpinion.com, the flagship under which the company started in 2004.