1. WHO IS EQUITY NATIONAL?
EQUITY NATIONAL delivers a unique combination of skilled people, high-quality products, process innovation, and integrated advanced technology that together produce the overall customer experience—E3// THE ESSENTIAL EQUITY EXPERIENCE.

EQUITY NATIONAL deploys RESIDx technology to support PACE and PACEplus.

2. WHAT DOES PACE MEAN? 
PREDICTIVE ANALYTIC COLLATERAL EVALUATION
A unique analytics tool that accurately and consistently predicts market value on residential property individually, in portfolio, foreclosure, or lender-owned by deploying highly trained reviewers.  Multiple data sources provide insight on market conditions and their effect on relevant sales transactions in close proximity to the subject under review.

3. WHAT MAKES PACE DIFFERENT FROM OTHER VALUATION SOLUTIONS?
EQUITY NATIONAL leverages four essential competitive advantages:

• Accuracy
• Expediency
• Cost Efficiency
• Forward Looking

4. IS PACE AN AVM (AUTOMATED VALUATION MODEL)?
NO.  PACE is not an AVM.  Trained Analysts governed by strict parameters review every data point in each subject file to determine if a rationale for its inclusion can be supported or not.

5. WHO ARE THE ANALYSTS?
Analysts are experienced financial experts with mathematical and statistical proficiency. Every Analyst is subjected to an intensive training protocol to ensure they are properly skilled in concluding value to a User.

6. WHAT IS THE METHODOLOGY?
1st Every asset is scrutinized by an Analyst under a logical rules-based protocol
2nd Land, Structure and Price Environment are analyzed in multiple ways
3rd Conclusions are highly balanced

7. WHERE IS THE DATA SOURCED?
Many sale type transactions are sourced from Tax Assessors reports nationwide.  In addition, data related to market conditions is secured from publicly available sources, local Market Specialists and private 3rd parties.
 
8. WHAT PUBLIC RESOURCES DOES THE METHODOLOGY RELY UPON FOR DATA?
Some of the publicly available resources utilized include:
US Census Bureau, Department of Education, Bureau of Economic Analysis, FHA (formerly OFHEO), Department of Justice and FBI, US Bureau of Labor Statistics, Department of Housing and Urban Development

9. WHO ARE THE LOCAL MARKET SPECIALISTS?
EQUITY NATIONAL deploys a national network of licensed Real Estate professionals to secure local market knowledge and relevant transaction activity.  They are exclusive representatives in a specific territory and pre-qualified for their experience and expertise.

10. WHAT MARKET CONDITIONS ARE CONSIDERED RELEVANT?
 
Many important area market influences are reviewed including:
 
UNEMPLOYMENT
FORECLOSURES
BANK SALES
AFFORDABILITY
VOLATILITY
 
CONFORMITY
HOUSING PRICE HISTORY
Housing Price TREND
CRIME
INVENTORY ABSORPTION
 
And more…

11. WHAT IS MEANT BY ALLEGED VALUE?
Alleged Value represents a possible value for the subject that the User seeks to audit.  Alleged Value is any value, other than the price at which the subject recently sold.  An Alleged Value could be a BPO, Last Listing, Appraisal, or even an Unpaid Balance.
 
12. WHY IS THE ALLEGED VALUE IMPORTANT?
The main role of an Alleged Value is to provide context for the data under study.  More than one Alleged Value can be used which together are all valuable in the process.

13. IS THE ALLEGED VALUE ABSOLUTELY REQUIRED?
NO.  Values are concluded even when an Alleged Value is not stated.

14. HOW DOES A USER TRANSMIT A VALUATION REQUEST?
To upload a file, go to ‘Request’ on your horizontal menu bar.  You will see two options:
1. Single Property allows the User to upload a single subject for study
2. The cells that are indicated with an * are mandatory
3. Multiple Property click download file template
4. Populate the cells and save to your desktop
5. When complete browse and populate where indicated
6. Complete all of the drop down inquiries
7. Click Upload
8. You will receive a File Received confirmation

15. WHAT TYPES OF CONCLUSIONS ARE REPORTED?
1. When a User provides an Alleged Value(s), the Analyst will conclude either
• Positive – meaning they concur with the Alleged Value represented, or
• Negative – meaning they do not concur with the Alleged Value represented.
2. When an Alleged Value is not provided, the Analyst reports Conclusive
3. When a subject valuation has not been concluded, the status will be Pending
4. When relevant data is inadequate, we report Inconclusive

16. WHAT DOES TDS MEAN?
TDS is an acronym for Time Definite Sale and is a value with the below characteristics

 TIME DEFINITE SALE (TDS) – The value to a
1) Motivated Seller
2) Informed Buyer and
3) Reflects Net Present Value after accounting for area market conditions

17. WHAT DOES FMV MEAN?
FMV is an acronym for Fair Market Value with the below characteristics
1) Patient Seller
2) End User / Homeowner
3) Probable Value with greater probability as market conditions improve

18. WHAT IS MEANT BY RECOVERY TIME?
Recovery Time is an estimated time in months required to alleviate the relevant market stress in close proximity to the subject.  Once the market pressure subsides more potential end users could be attracted and will be amenable to pay Fair Market Value.

19. HOW DOES A USER VIEW ADDITIONAL PROPERTY VALUATION DETAILS?
1. Click the Prop #
2. Several tabs can be opened that detail and support the Analyst’s conclusion

20. HOW LONG WILL IT TAKE TO RECEIVE A PACE REPORT?
PACE reports are delivered within 1 to 3 business days as they are concluded.  Properties for which data is insufficient may take longer.

21. DOES EQUITY NATIONAL OFFER PROPERTY INSPECTION?
YES.  Property Inspection can be ordered by the User as part of our PACEplus in which a site visit is conducted by a professional Property Inspector.

22. WHAT IS THE PACEPLUS? 
PACEplus is a drive-by of the subject property reporting condition, neighborhood characteristics, address verification and photos

23. HOW LONG WILL IT TAKE TO RECEIVE A PACEPLUS REPORT?
PACEplus reports are delivered within 3 - 7 business days as they are concluded.

24. HOW CAN THE PACE OR PACEPLUS REPORTS BE PRINTED?
PACE and PACEplus reports can be printed individually basis by clicking the Printer Icon.  This enables the User to save a PDF to their desktop and print the report locally at their option.  The report can be saved as often as the User may choose during the time that the subject property file is online.

Bulk PACE or PACEplus reports are available by request only.

25. CAN THE RESULTS BE EXPORTED TO AN EXCEL FORMAT?
YES, results can be exported to excel by clicking on the Reports link next to the number of the folder after opening that folder.

26. HOW OFTEN DOES EQUITY NATIONAL RECOMMEND NEW PACE REPORTS?
Experience shows that new transaction data is best updated after sixty (60) days to observe potentially substantial changes.

27. HOW DOES A USER RESOLVE A TECH / COMPUTER ISSUE?
If a User encounters technical issues while using the platform, drop down the Support link on the horizontal menu bar and an option to describe the nature of the issue.  A response will be provided directly to the User via email within 12 hours or the query.

28. HOW LONG DOES EQUITY NATIONAL MAINTAIN FILE RESULTS VIA THE WEB?
Once reported to the User, results remain active and visible for sixty (60) days.  During that time, Users may notice modest refinements as market condition data and System updates occur continuously.