Property Review and Reconciliation (PRR)
The Property Review and Reconciliation (PRR) is designed for use in NPL/secondary market transactions. The PRR aids in validating asset pricing, as well as identifying neighborhood or market concerns, condition issues, and other potential risk factors. The agent component feeds a reconciliation form that allows the analyst to identify any material changes from the seller’s BPO/Appraisal and any discrepancies that could warrant repricing. The PRR utilizes an AVE result to complete the independent value reconciliation and is backed by MLS data and a full AVE result. CPP has deployed the PRR for diligence on over $5 Billion in NPL assets.
Alternatively, the PRR can be utilized as a standalone evaluation product with a reconciliation of the agent’s price opinion and the AVE Result.