Compcruncher Collateral Valuation Reports (CVR). Big data accuracy and reliability. Compare to any valuation in its value class at the price offered. Lenders told us that the CVR is a easy replacement of BPO's, particularly for HELOCs. Replacement for the MSM-Mortgage Servicing Market for their portfolio loans, Default management for any BPOs used in the process (short sales) Alternative in the loan modification programs Quality assurance, Secondary valuation in value dispute resolution and value reconciliation.

1. CVR®
C ol l at e r a l Va l u at i on R e p o r t
Appraiser Produced • Statistically Supported • Competitively Priced
Collateral Valuation Specialist:
Tom Markoski, State Certified Residential Appraiser
Trust Real Estate Appraisal Services PLC
2525 East Paris Ave. Suite 100
Grand Rapids, MI 49546
616.284.1886 | Cell: 231.250.4736
thomas@treasplc.com
A Community of Collateral Valuation Specialists

2. CVR® - Collateral Valuation Report A Better, Faster and Stronger Appraisal
Collateral Valuation Developed for Today’s Market Needs
Today’s market requires valuations that are fast, accurate, compliant and
affordable. The Collateral Valuation Report (CVR®) is an advanced appraisal
product designed specifically for today’s market needs. The CVR takes appraising
to the next level with robust market analytics including regression analysis.
The Collateral Valuation Specialists who provide CVRs are appraisers with local
market experience and are trained in the use of new Computer-Aided Appraising
technology which empowers them with the ability to analyze entire markets and
consider hundreds of sales and listing, instead of just the traditional three sales.
In addition, aerial, satellite, street view or drive-by imagery is also incorporated
in the analysis to provide an enhanced understanding of the significant market
features and influences that contribute to the value.
The CVR is also unique in that it includes a sales comparison analysis, a listing
comparison analysis and a regression analysis to arrive at a final, reconciled
market value producing one of the most transparent, bullet-proof, 100% USPAP
compliant appraisals ever developed for the lending community.
The CVR is quite simply, the most innovative, new appraisal product on the
market today.
CVR Benefits:
• Appraisal enhanced with market analytics and statistics
• Hundreds of sales and listings are analyzed instead of the
traditional three sales
• Includes regression analysis of the market
• Value conclusion is statistically supported
• Report includes market characteristics, trends, and influences
• Highly transparent and credible report
• 100% USPAP Compliant
The Collateral Valuation Report is the ideal appraisal product for HELOCs,
second mortgages, servicing valuations and portfolio analysis as well as review
and litigation.
Bradford Technologies, Inc.
The CVR is the Most
Innovative Appraisal
Product in Decades
CVR is a registered trademark of Bradford Technologies, Inc. • © 2014 All rights reserved. • 800-622-8727 • www.AppraisalWorld.com

3. CVR® - Collateral Valuation Report Summary Page
Executive Summary Page
A summary of the key features and
values of the appraisal report
Value Range Chart
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The Value Range Chart is unique to the
CVR. In one chart, the range of values
in the market, range of values in each
analysis or approach, the indicated
values from each and the value
conclusion all relative to each other is
displayed.
Bradford Technologies, Inc.
REAL ESTATE COLLATERAL VALUATION REPORT
Client Borrower
Address City ST Zip
AMC Name
Produced by CompCruncher v3.1.0, 2012-13 ©Bradford Technologies, Inc Software 800-622-8727
File No.
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CVR is a registered trademark of Bradford Technologies, Inc. • © 2014 All rights reserved. • 800-622-8727 • www.AppraisalWorld.com
CLIENT
Address City ST Zip
Owner County
APN Census Tract
Property Rights Appraised Fee Simple Leasehold Other
Highest and Best Use
Legal Description
Total Rooms GLA Year Built
Bedrooms Site Area Stories
Full Baths Basement Sqft Design
Half Baths Bsmnt Finished Car Storage
Photo Source
FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date
Comments
SUBJECT
Neighborhood Name Neighborhood Sales and Listing Trends
Location Urban Suburban Rural
Built-Up Over 75% 25-75% Under 25%
Growth Rapid Stable Slow
One-Unit Housing Trends
Property Values Increasing Stable Declining
Demand/Supply Shortage In Balance Over Supply
Marketing Time Under 3 mths 3-6 mths Over 6 mths Sales Price: Subject vs Neighborhood
One-Unit Housing Market Trend Last 3 Months
PRICE AGE Total Sales
$ (000) (yrs) Total Listings
Low Median Sales Price
High Median List Price
Predominant List to Sales Ratio
Comments:
NEIGHBORHOOD
Reconciliation Comments
Indicated Value from Sales Comparison: $
Indicated Value from Listing Comparison: $
Indicated Value from Regression Analysis: $ .
This appraisal is based on the subject property "as is", the defined Scope
of Work, Statement of Assumptions and Limiting Conditions, and the
Appraiser's Certification. My opinion of the market value of the subejct
as of the effective date of this appraisal is:
Market Value:$
Effective Date:
RECONCILIATION
Appraisal Sentry Report Signature - Protect Against Fraud
Signature
Name Date
Company
Address Property Inspection:
No Inspection
License # Exterior Only
Certification # Interior and Exterior
Other # Inspection Date:
State Expires
APPRAISER
Page of
So Cal Appraisal
1013bt1
Client No 1013BT1
Bradford Technologies John and Mary Smith
302 Piercy Rd. San Jose CA 95138
None
9344 GAINFORD ST DOWNEY CA 90240
John and Mary Smith LOS ANGELES
6390-017-010 5505.00
X
Single Family Residential
TRACT # 16348 LOT 10
11
5
4
0
2,986
10,080
0
0
1952
2 Story
Traditional
3
Pictometry
X X500L 09/26/2008 1830F
No permit history was available on-line through Build Fax to the appraiser.
Downey
X
X
X
X
X
X
194
1,201
415
0
65
62
40
68
460,000
575,000
0.95
Current market conditions are showing an upward value trend within the subject's marketing area for the past 12 months. This
information was taken from Trulia.com, DQnews, MLS, conversations with local realtors, and the appraiser's own knowledge of the area.
Average marketing/exposure time for the subject's marketing area is 1-4 months. Buyer interest still appears to be up while % rates are still at
favorable levels.
This report was based on photos of the subject property, statistical information gathered through the MLS, and the
appraiser's own knowledge of the area. All indicators of value were taken into consideration for this assignment.
**Note that the adjustments made in this report reflect what the subject's current market will bear. This was based on information gathered from
the regression analysis, the MLS, paired analysis, and the appraiser's own knowledge of the area.
730,000
745,000
717,742
730,000
10/16/2013
Anthony Russo 10/13/2013
So Cal Appraisal
7439 La Palma Avenue, #278
Buena Park, CA 90620
AL014908
266861
CA 01/31/2014
X
3 18
Subject Property Photo
The subject photo is on the front
page. This makes it quick and easy
to view the property and ensure it is
the correct property being used for
collateral.
Date & Source of Photo
Photo sources is indicated to ensure
relevancy and reduce fraud.
Neighborhood Demographics
The same neighborhood demographic
information typically found on a 1004
report is also found on the CVR.
Neighborhood Trend Charts
Trends for sales and listing prices and
totals over a 12 month period. Median
values are show.
Value Reconciliation
The indicated values from Sales
Comparison, Listing Comparison and
Regression Analysis are shown.
Value Conclusion
The appraiser’s value conclusion and
effective date are clearly shown above
the appraiser’s signature.
Appraiser Authentication
The identity and appraisal credentials
of CompCruncher Specialists have
been authenticated against the ASC
database.
Report Fraud Protection
On document verification provides
encrypted data with information
about the appraisal and the appraiser.
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750

4. CVR® - Collateral Valuation Report Market Condition and Trends
Market Condition & Trends Page
Details, maps and charts describe the
subject property’s market conditions
12-Month Market Activity Charts
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Sales and listing activity for the last
12 months is graphically displayed for
clear understanding of the trends.
Bradford Technologies, Inc.
So Cal Appraisal
MARKET CONDITION AND TRENDS
1013bt1
Client No 1013BT1
Property Address
City County State Zip Code
Area Location Map Market Area Boundary Area: Sq. Miles
Neighborhood Name Sales and Listing Price Trend
Current Listings Range: $ to $
Sales Range: $ to $
Market Characteristics
Location Urban Suburban Rural
Built-Up Over 75% 25-75% Under 25%
Growth Rapid Stable Slow Total Sales and Listings Trend
Supply/Demand Shortage In-Balance Over-Supply
Price ($000) Age (yrs) BedRms GLA (sqft)
Low Range
High Range
Predominant
Market Activity Days on Market (Sales)
Time Period (Last): 10-12 Mos. 7-9 Mos. 4-6 Mos. 3 Mos.
Total Listings
Median List Price
Total Sales
Median Sales Price
Absorption Rate
Months of Supply
Sales DOM Absorption Rate
Listing DOM
Sale/List Price Ratio
Sales Price/Sq. Ft
Market Trends
Sales Price Trend Increasing Stable Decreasing
Listing Price Trend Increasing Stable Decreasing
Absorption Rate Increasing Stable Decreasing Months of Supply
Months of Supply Increasing Stable Decreasing
Listing/Sales Ratio Increasing Stable Decreasing
Days on Market Increasing Stable Decreasing
Property Values Increasing Stable Decreasing
Reasonable Exposure Time for Subject: Mos
Reasonable Marketing Time for Subject: Mos
Neighborhood Trends and Impact on Subject Property
Produced by CompCruncher v3.1.0, 2012-13 ©Bradford Technologies, Inc Software 800-622-8727
File No.
Page of
CVR is a registered trademark of Bradford Technologies, Inc. • © 2014 All rights reserved. • 800-622-8727 • www.AppraisalWorld.com
9344 GAINFORD ST
DOWNEY LOS ANGELES CA 90240
Approx. 2
Downey
68 180,000 5,559,000
141 193,000 1,200,000
X
X
X
X
194
1,201
415
0
65
62
2
6
3
720
6,424
1,300
32 36 49 68
389,999 499,450 459,950 575,000
39 30 32 40
390,000 396,500 475,000 460,000
6.50 10.00 10.67 13.33
4.9 3.6 4.6 5.1
82 62 64 59
99 104 95 54
0.99 1.00 0.99 0.95
242.06 239.00 262.11 287.75
X
X
X
X
X
X
X
1-4
1-4
Current market conditions are showing an upward value trend within the subject's
marketing area for the past 12 months. This information was taken from Trulia.com, DQnews, MLS, conversations with local realtors, and the
appraiser's own knowledge of the area. Average marketing/exposure time for the subject's marketing area is 1-4 months. Buyer interest still
appears to be up while % rates are still at favorable levels. Listing activity is showing a steady increase over the last year and sales are remaining
stable.
4 18
Market Area Location Map
Enlarged view of the surrounding area
shows the market area relative to other
landmarks, freeways and market areas.
Market Area Detail
Market area is graphically displayed
on a location map to visually illustrate
the location of the subject and market
boundaries.
Neighborhood Characteristics
The Neighborhood characteristics
indicating location, buildup, growth
and supply and demand.
Market Property Characteristics
The high, low and predominant
property characteristics of the market
are shown.
12-Month Market Activity
Sales and listing activity for the market
area is tabulated for the last 12 months.
Market Analysis Results
Important market factors such as market
absorption and months of housing
supply, the reasonable exposure time
and estimated marketing time are
calculated and shown.
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5. CVR® - Collateral Valuation Report Regression Analysis
Regression Analysis Page
The value conclusion is supported by
the application of regression to the
sales within the market. Up to 500 sales
may be analyzed during this process.
Bradford Technologies, Inc.
REGRESSION ANALYSIS
Property Address
City County State Zip Code
Actual to Predicted Sales Price Accuracy Distribution
Produced by CompCruncher v3.1.0, 2012-13 ©Bradford Technologies, Inc Software 800-622-8727
File No.
1
CVR is a registered trademark of Bradford Technologies, Inc. • © 2014 All rights reserved. • 800-622-8727 • www.AppraisalWorld.com
Regression Output Statistics
Statistical Measure Model Output Confidence Model Summary
R Squared Sample Size
Adjusted R Squared Data Quality
COV Comparison of Subject to Dataset
COD Overall Agreement with Model Output
Standard Error Overall Agreement with Model Accuracy
Component Contributions to Value
Component Low Value Most Likely High Value P-Value Significance
Regression Model Accuracy
Predicted Accuracy of the Regression Model using properties similar to the subject.
Address Prox. BedRms Baths GLA Bsmt Area Site Area Sale Date Sales Price Predicted % Diff
Subject Property
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Comments on Regression Analysis:
INDICATED VALUE BY REGRESSION ANALYSIS $
Page of
So Cal Appraisal
1013bt1
Client No 1013BT1
9344 GAINFORD ST
DOWNEY LOS ANGELES CA 90240
86.78% Good
86.04% Good
10.51% Acceptable
9.04% Good
10.95 Acceptable
114
Acceptable
Acceptable
Acceptable
Acceptable
Neighborhood Base Value 52,408
Gross Living Area 54 69 85 0.00001 Very High
Total Bathrooms 39,413 50,877 62,342 0.00002 Very High
Site Area 13.85 16.58 19.30 0.00000 Very High
Garage Car Spaces 2,588 13,994 25,400 0.22254 Low
Carport Car Spaces 0 0 0 0 Excluded
Basement Area 0 0 0 0 Excluded
Basement Finished Area 0 0 0 0 Excluded
Year Built 0 0 0 0 Excluded
Fireplace(s) 7,210 16,313 25,416 0.07595 Moderate
Pool 17,465 29,293 41,122 0.01483 High
Spa 0 0 0 0 Excluded
Sale Date 0 0 0 0 Excluded
5 4.00 2986 0 10,080 0 717,742
9125 Otto Street 0.298 5 4.00 3914 0 14,115 8/23/2013 812,000 834,948 3
10035 Birchdale Avenue 0.678 4 2.50 2226 0 10,747 9/12/2013 650,000 585,728 -10
9160 Dinsdale Street 0.248 4 3.00 2690 0 10,104 5/30/2013 685,000 632,691 -8
9040 Suva Street 0.494 3 3.00 2042 0 10,006 9/26/2013 605,000 586,122 -3
10555 Chaney Avenue 0.661 4 2.00 1698 0 7,821 9/24/2013 580,000 475,168 -18
9074 Farm Street 0.575 3 3.00 2614 0 7,491 9/13/2013 630,000 584,107 -7
10424 Brookshire Avenue 0.897 5 3.00 2660 0 8,407 6/28/2013 710,000 602,481 -15
9614 Gainford Street 0.386 3 2.00 1790 0 10,367 8/15/2013 600,000 523,751 -13
9383 Bigby Street 0.407 3 3.00 1792 0 7,870 7/29/2013 535,000 533,377 0
10418 Tristan Drive 0.682 5 2.50 2806 0 12,811 9/23/2013 560,000 630,875 13
Based on information gathered from the regression chart and the components of value, the regression output
statistics range from acceptable to very good for all categories. This was based on 114 observations used for this report. The indicated value
based on the regression analysis is lower than the sales comparison approach to value but the regression value is within the range of values for
the sales comparison approach and the difference in values is 1.8%. It is not uncommon for the regression value to be lower in a recovering
market.
717,742
5 18
Scatter Plot
The accuracy of the correlation of the
actual sales price to the predicted sales
price is graphically illustrated..
Predicted Accuracy
Dispersal chart displaying the precision
of the predicted values.
Regression Metrics
The actual measure of accuracy of the
regression analysis is shown along
with the indicated confidence the
appraiser has in the analysis.
Overall Analysis Summary
In this area the appraiser rates the
analysis and the goodness of the data
that was used.
Components of Value
Regression can identify the components
of a property that contribute to its
overall value. The value, its significance
and whether the component is
acceptable is indicated.
Top 10 Sale Comparables
Sales are ranked by an analytical
process. The top 10 sales in the market
are used to illustrate the predication
accuracy of the regression model
applied to other properties similar to
the subject.
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6. Bradford Technologis, Inc.
302 Piercy Road • San Jose, CA 95138 • 800.622.8727 • www.BradfordSoftware.com • www.AppraisalWorld.com
Notes:
Have a question before you order? Contact Tom today! thomas@treasplc.com