Season 2, Episode 1: Interview with Mike Kirk, Chief Innovations Officer for NPAS

Alt-Vals, De-Risked – Why Data Collection and Valuation Now Live Apart

Mike Kirk and Chad Carroll have built a new Alternate Valuation division that pulls the property visit out of the appraiser’s workload.

• Step 1 – Data Capture. A licensed, trained inspector uses a guard-railed mobile app to scan the floor plan, photograph every room and tag any condition issues.
• Step 2 – Double QC. NPAS runs an automated check before the file ever leaves the field, then a human QC after the valuation is finished.
• Step 3 – Desktop or Hybrid. An appraiser—now free from drive-time—finalizes value from a desktop or, if needed, completes a streamlined hybrid appraisal.

Less drive time, less cost, same risk controls.

Fannie Mae’s Value Acceptance + Property Data (April 15 Launch)

• What changed? “Appraisal waivers” become value acceptance. For many loans DU will return value acceptance + property data, requiring only a Property Data Report (PDR).
• NPAS is approved. Inspectors collect the PDR; NPAS pipes the dataset straight to Fannie via API and returns a PDF archive to the lender.
• Upgrade path built-in. If Fannie bumps a file to a hybrid, NPAS can reuse the same inspection—no second trip, no borrower irritation.

Who Should Pay Attention?

Credit unions wanting quicker HELOCs, private-money shops chasing speed, portfolio lenders eyeing cost savings, and first-mortgage lenders tired of 1004 turn-times. Have a niche need? Mike’s “innovation sandbox” can prototype bespoke forms—draw inspections, REO ‘as-is/as-repaired’ models, even one- or two-value desktop hybrids.

Rapid-Rush Highlights

TL;DR – Episode 1 Takeaways
Serve first, customize later. NPAS alt-vals meet each lender’s speed-cost-risk sweet spot.

Split the job. A pro inspector + a desktop appraiser beat one rushed generalist.

Value Acceptance era. Starting April 15, many Fannie loans fund with just a PDR.

Innovation in-house. Mike’s sandbox spins up draw inspections, REO desktops and private-money hybrids without third-party patchwork.

Discipline scales. Karate focus, mustard-spiked chili and relentless iteration keep NPAS two steps ahead.

📌 Modern inspection tech, GSE approvals and a black-belt mindset—Mike Kirk proves precision and adaptability can coexist.

👉 Catch every episode: rss.com/podcasts/valunation
📸 Follow the show: @valunationpodcast on Instagram

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