Several mortgage service providers that offer appraisal technology have recently announced enhancements that are designed to help residential lenders increase efficiency, maintain compliance and meet new government mortgage requirements.
New settings and user rights added to Appraisal Firewall are intended to strengthen management capabilities and optimize process efficiency for lenders that manage their own appraisal process, SharperLending LLC announced Wednesday.
Administrators of in-house appraisal systems can segment duties based on a user’s responsibility — reportedly leading to better operational efficiency by limiting the scope of work to only those users that need to be involved at certain touch points.
Upgrades to RealView have created “the industry’s only user-controlled customization feature in an appraisal technology,” Platinum Data Solutions claims in a recent announcement.
“This feature enables users to customize their RealView software by authoring their own rules at any time of day, with just a few mouse clicks, so they can assure the highest quality, most compliant appraisals, 100 percent of the time,” Platinum stated.
The LoanSafe Appraisal Manager has been integrated into the Encompass solution from Ellie Mae Inc., an April 14 news release from CoreLogic Inc. indicated.
The LoanSafe product reportedly provides users with risk scores through an analytic model that identifies appraisals with the highest potential risk of repurchase by rank-ordering the risk of over-valuation, early payment default, foreclosure and appraisal non-compliance.
ValuTrac Software announced earlier this year that it has been integrated with the Federal Housing Administration’s Electronic Appraisal Delivery Portal. Use of the EAD portal will be required for FHA mortgagees on FHA case numbers assigned on or after June 27.
CMG Financial has automated its appraisal process with the implementation of eTrac from Global DMS, a news release last month said. The system enables CMG to utilize a single interface for appraisal management companies with disparate systems.
Global DMS is a Mortgage Daily advertiser.
