Automated Appraisal Reviews Provide Numerous Benefits

Automated Appraisal Reviews Provide Numerous BenefitsHaving a seamless, workflow-driven valuation management process allows for quick, easy configurations and will all but eliminate manual touch-points.

Lenders and AMCs that take advantage of this unique automation technology are sure to increase their own efficiencies, reduce costs, and become even more valuable to their consumer or lender-clients due to quicker turn-times and more accurate reports.

Automated appraisal review systems play a vital role in ensuring timely reports that are in full compliance with industry standards, and can save your institution time, mitigate collateral risk, and instantly identify appraisal quality issues – all automatically. They remove the need for manual reviews, which are cumbersome and at risk of human error, but still allow the end-user to remain in full control.

Not only does this help expedite a once grueling task, it provides you with peace-of-mind knowing that you can still mitigate your appraisal review process if necessary.

eTrac’s MARS® (MISMO Appraisal Review System) analyzes an appraisal for completeness, compliance, and consistency with GSE guidelines, UAD, and industry best-practices to significantly reduce an underwriter’s time spent on the collateral review process.

MARS is a sophisticated rules engine that scrubs each appraisal against thousands of rules, which can be customized to fit the needs of your organization. This valuable tool generates an instant report of “red flags” prior to manual review with a collateral score that directs the reviewer to the specific areas of the appraisal that require their attention.

In addition, MARS’ automation capabilities greatly reduce internal review times and help managers make faster, more consistent, and better decisions.

  • Over 2,600 Business Rules
  • Unlimited Custom Rule Sets
  • Rule Severity & Weighting Support
  • MISMO & PDF Format Support
  • Instant “Red Flag” Report w/ Collateral Score
  • Appraiser License Validation
  • UAD Compliance Check
  • Subject Property Aerial Map
  • API for easy Integration

For more info on how MARS can help maximize the efficiency of your appraisal review process, contact us today at productinfo@globaldms.com.

 

Topics: GSE, Lenders, appraisal technology, collateral management, appraisal software, eTrac Enterprise Solutions, AMCs, Mortgage Companies, Compliance, residential mortgage industry, MISMO, UAD, MARS, Appraisal Process Management, Credit Union