UNIVERSAL REAL ESTATE SERVICES, INC.
The Universal Elements: People, Process, and Technology…
Since 1997, Universal Real Estate Services (URES) strives to provide our Credit Union clients a one-stop, nationwide, and fully compliant resource for their lending needs. Our products and services put your Member FIRST! These services include a complete array of Residential and Commercial Services designed to not only meet our clients’ needs for new originations, but also for Portfolio Review and maintenance. The URES process enables Integration within your LOS Environment and the BUNDLING of Appraisal/Avm/Evaluation/Property Search/Flood/Verification Products, etc. truly provides a streamlined and cost-effective approach to loan products to your group. Our Quality Assurance Program provides the appraisal review and client support necessary in today’s highly regulated environment and our internal process provides unmatched value review and communication. With over 2,000 licensed and certified professional appraisers, Universal provides your institution with local market expertise, complete geographic coverage and unmatched customer service.
Our Compliance Assurance Program provides our clients a clear and defined process to meet ALL Federal Regulation guidelines, including Dodd Frank, CFPB Regulations and Security Privacy Acts. Our compliance process includes the ability to customize Preferred Appraiser Rotations to their needs and include current appraisers within an efficient and effective compliance process. Please ask us for our comprehensive Compliance Prospectus.
Our Residential Appraisal Program provides our clients all known Federal Forms including:
- Field Reviews (Form 2000)
- 1004/1073 Condo
- 2055 Exterior
- 2070 Interior or Exterior
- 1025 Multi-Family
- Co-Operative Reports
- Customized Evaluations RERS! Land Appraisals
- Instant AVMs CASCADE • 2055 Interior
- 2065 Exterior
- 2075 Exterior
- 704 Drive-by Reports
- Re-Certification of Value
- Desk Reviews
- PCR/PPR Condition Reports W/AVM Cascade
- Property Search Report
- Tax Status Report
- Superior Court Searches
- Certificates of Good standing
- Articles of Incorporation
- UCCs State and County
- All known search products
- VOE
- VOI
- VOA
- 4506s Tax Return Verifications
- All known Verification products
The following products constitute our Commercial Menu of Products: Again, please note Universal specializes in customizing the evaluation to the specific needs of our clients, whether those needs be for new originations or Portfolio Review and Maintenance.
- Commercial Narrative Reports – Universal’s rotation of seasoned and professional appraisals produce timely and accurate narrative appraisals for our clients. Further, Universal can vet and include any preferred appraisers that our clients wish to add to their rotation and deliver in a compliant and efficient process.
- Commercial Evaluations – Fully Customizable – Provides an Exterior Evaluation of a Commercial Property and contains three (3) comparables, tax assessment and equalization rate analysis, applicable narrative and an Estimated Value Opinion. Typical turn time is 3-4 working days. Standard use is for new originations under 250K and loan renewals. An evaluation with an income approach is also available for Income Producing properties.
- Property Assessment Report (PAR) – An Internal Evaluation that provides an Equalization Value based on the subject’s current tax assessment and town/county equalization rate. This product also provides a list of open mortgages to verify lien position. Standard use is for Portfolio review and renewals.
- Tax Equalization Report (TER) – A limited Exterior Evaluation that provides an Equalization Value, as well as characteristics of the subject property and neighborhood influences. Three (3) photos of the subject property are also included. Standard use is for Portfolio review, renewals and some new originations.
- Tax Status Report (TSR) – Provides a breakdown of taxes for the subject property; whether current or delinquent. Standard use is for Portfolio review.
Universal is integrated with the ENCOMPASS, LOANHD, MERIDIAN LINK Platforms as well as several other Loan Operating Software’s. Universal also provides its clients access to our industry leading VALUTRAC Ordering Platform. This fully customizable platform allows our clients the ability to order, track and receive notifications of status and completed products as well as deliver appraisals to your borrowers when needed. Our platform ensures complete Compliance with all known Federal Regulations and provides our clients and valuable operational platform in which they can order any and all lending products required as well as UCDP submissions.
Universal provides its clients our 70 page Compliance Prospectus which documents just how Universal ensures the Compliance of its clients. It encompasses ALL known Federal regulations including Dodd/Frank and CFPB regulations. We are confident you will find our documentation and process exceeds the requirements and expectations of your internal review, as well as external audits.
What sets Universal’s process apart from our competition is our exceptional blend of industry and geographic expertise, mixed with our industry best ValuTrac Ordering Platform and integrations, along with the excellence of our Quality Assurance Review Program.
… will bring measurable value to your lending process while streamlining a complaint process to meet service expectations.
