This software was developed to create, save and produce property valuations in line with the Residential Valuation and Security Assessment Pro Forma Supporting Memorandum.
PropertyPRO was created by the API many years ago to assist members to meet the changing needs of major lenders/clients and financial institutions. These clients were seeking the same high level of valuation advice from API members but in a more concise format. PropertyPRO and the related Residential Valuation and Security Assessment Pro Forma Supporting Memorandum were the result.
The Residential Valuation and Security Assessment Pro Forma Supporting Memorandum provides the basis upon which Members of the API will provide valuations of residential properties for first mortgage purposes using the Residential Valuation and Security Assessment Pro forma Report for Mortgage Purposes report. It is also the basis on which their lender-clients and any applicable approved lenders mortgage insurers accept(s) and use(s) such reports.
The API has chosen Sydney based IT company, PropertyPRO Technology Pty Ltd as their preferred provider for the software platform, PropertyPRO Online. PropertyPRO Technology hosts PropertyPRO Online under an agreement with the API. They are responsible for the hosting, support and maintenance of the existing Product and all future development and enhancement of the Product. Further information about the PropertyPRO Online product can be obtained by emailing firstname.lastname@example.org or email@example.com.
Over the past few years, we have undertaken a full review of the API PropertyPRO Residential Valuation & Security Assessment Supporting Memorandum.
For more information or to read the full article, visit our PropertyPRO 2020 page.
Previous Editions of the PropertyPRO Supporting Memorandum
Originally created and released by the API in September 1998, there have been multiple revisions and updates to the Supporting Memorandum as a result of changes in the residential mortgage valuation and lending industry in Australia.
For more information and to access previous resources, visit our Previous Editions of the PropertyPRO Supporting Memorandum page.