Appraisal services have been integrated into multiple loan origination systems. Meanwhile, an update has been issued for government appraisals.
The Department of Veterans Affairs said it is continuing its policy of requiring a copy of the agreement or sales contract be provided to the appraiser.
VA explained that the
entity that is requesting the appraisal must provide the contract or agreement within one business day of placing the order.
“VA believes that the fee appraiser must have access to such information to ensure that the estimate of value represents a proper value, which includes consideration of financing data, sales concessions, or property conditions typically contained in the agreement of sale,”
Circular 26-17-03 states.
Dart Appraisal announced on Feb. 16 that it has expanded its panel of appraisers in Washington state by 15 percent since October 2016. The additions are in response to the competitive real estate market in the state — especially Seattle. Troy, Michigan-based Dart said appraisers must have completed a thousand appraisal reports to join the appraisal management company.
Global DMS’
eTrac valuation management platform has been integrated into the OpenClose LenderAssist LOS, a Feb. 7 statement said. The new integration reportedly eliminates manual touch points, reduces costs and ensures appraisal compliance.
Global DMS is a Mortgage Daily advertiser, while OpenClose is a Mortgage Daily data partner.
An integration announced on Jan. 12 by Radian Guaranty Inc. will enable users of LendingQB’s LOS to order appraisals from Radian-affiliate ValuAmerica.
A Feb. 7 news release indicated that
Accurate Group’s valuation services have been integrated into the LendingQB LOS.
An integration between HomDNA a mobile application, and Black Knight Financial Services’ LoanSphere Expedit platform
promises to optimize appraisal delivery, a Feb. 2 statement said. HomDNA says it manages the mobile appraisal delivery and provides a value-add of an appraisal summary featuring the most pertinent information parsed from the full appraisal. Each appraisal communication is tracked, personalized and lender-branded and includes the full report along with a link to the summary.
Accurate Group recently announced that an interface has been created for its desktop appraisal technology platform, ValueNet, with CoreLogic FNC.
“When used together, ValueNet appraisal data will be available as secure AI Ready XML for import to a lender’s loan origination system and the FNC GAAR review service,” the statement said. “AI Ready is an industry standard that allows the secure delivery of valuation products as data. This seamless integration will provide valuable insight to lenders, stronger data governance and greater efficiency in the appraisal process.”
