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Configurable & Automated Appraisal Management Technology Streamlines Reviews

Configurable & Automated Appraisal Management Technology Streamlines ReviewsIn today’s highly regulated mortgage environment, appraisal reviews have become quite complex – leading to greater turn-times and higher risk. In order to avoid unwanted delays, lenders and AMCs must rely on a robust review technology that not only mitigates an ever-growing list of rules, but also promotes the timely completion of appraisal reports through automation.

Global DMS’ MARS®, a standard component of EVO-Res™, guarantees these key parameters are met by automating your appraisal reviews to help expedite a once grueling task and further ensure compliance.

MARS quickly analyzes an appraisal for completeness, consistency, and compliance with all GSE guidelines, USPAP, UAD, and industry best-practice, providing robust and accurate reviews in seconds. To help promote even more efficiency, these reviews can be configured to run automatically whenever the Final Report is uploaded.

Additional MARS Highlights:

  • Over 3,600 standard business rules, with specific configurations for different services.
  • Rule severity and weighting support.
  • Instant red flag report and MARS score, which lists all Critical, Warning, and FYI items.
  • Supports MISMO XML format.

In addition, MARS provides reviewers with a special html-based document that significantly reduces their review times by instantly directing them to the areas of the appraisal the need their attention most – providing clear directives on a resolution. 

For more information, or to see a short demo, contact Global DMS® today at evoinfo@globaldms.com.

 

Topics: Lenders, appraisal technology, collateral management, eTrac Enterprise Solutions, AMCs, Mortgage Companies, Global DMS, technology, Compliance, residential mortgage industry, MARS, Appraisal Process Management, Credit Union, EVO