In 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, contact Global DMS® today at email@example.com.
EVO’s Centralized, Role-Based Design Simplifies Appraisal Management
For most financial institutions, the real estate appraisal process often involves a complex web of different players, including both internal staff and external vendors. Global DMS’ EVO™ appraisal management software simplifies how one manages this crucial process by providing a centralized platform that facilitates all documentation and communications, with custom dashboards and task lists based on the user’s role that prevent the cross-population of work – enabling a cohesive valuation workflow.