Best-Practice for Sound Reporting: Does Your Appraisal Software Provide these 4 Crucial Items?

Best-Practice for Sound Reporting: Does Your Appraisal Software Provide these 4 Crucial Items?As refinances and increased market demand continue to push mortgage originations to all-time highs, the need for instant visibility over one’s processes has become even more essential in order to help manage these larger loan volumes.

Nowhere is this more apparent than with real estate appraisals, in which mortgage lenders and AMCs must take all appropriate steps to ensure that their valuation process is both efficient and effective to help prevent unwanted delays. However, achieving complete visibility over this intricate process is near impossible without the use of a robust and configurable reporting tool that promotes automation.

To have the best-of-the-best, it’s important to utilize an appraisal management technology that’s equipped with the following reporting capabilities:

  1. Complete configurability, with custom reporting that’s able to capture data from any field within the system.
  2. The ability to run real-time reports on your various appraisal processes and communications.
  3. The ability to understand your average appraisal turn-times.
  4. Automated management reports that can be delivered as needed to who you want, when you want.

This modern approach to reporting provides lenders and AMCs with a competitive advantage by helping their staff easily track all aspects of their unique valuation process. Not only does this grant processors a more realistic idea of appraisal turn-times, it allows management to instantly capture valuable data that can help eliminate process bottlenecks.

Global DMS’ EVO appraisal management software provides the complete visibility lenders and AMCs need via its robust reporting capabilities, which gives these end-users full control by allowing them to easily create, customize, and save reports as needed.

EVO’s unique report builder includes both built-in reports and the ability to create custom reports in minutes without the need of third-party developers – no tickets, no waiting, no hassle. Most importantly, these reports can capture data from any field within the system and your saved forms, keeping you on-top of every aspect of your appraisal process.

In addition, EVO takes your reporting one step further by automatically running and delivering your saved reports as needed during any point in the valuation process. This on-demand approach is easy to configure and ensures the availability of critical information when it’s needed most.

Interested in a demo? Contact Global DMS® today at evoinfo@globaldms.com to learn more about EVO and its award-winning functionality.

 

Topics: Lenders, appraisal technology, Vendor Management, AMCs, Mortgage Companies, Global DMS, technology, Appraisal Process Management, Credit Union, EVO