Credit Unions: Workflow Automation Significantly Enhances Valuation Process

Credit Unions: Workflow Automation Significantly Enhances Valuation ProcessFor credit unions, the number one goal is to satisfy their members at all costs. With immense pressure to exceed growing expectations, it’s more important than ever for these institutions to modernize their various processes to help meet the demands of today’s digital consumer.

This includes mortgages, where the advent of digital technologies has helped significantly reduce turn-times – promoting satisfied members with positive referrals. Though many credit unions have adopted technologies like Loan Origination Systems (LOS) to help mitigate their mortgage loans, most have been hesitant to change their antiquated appraisal software and/or processes – leading to delays, increased risk, higher costs, and worst of all, disgruntled members.

In order to avoid this unwanted scenario, best practice dictates that credit unions implement an appraisal technology that provides a configurable, workflow-driven process from initial assignment to final delivery based on automation. This is the key ingredient for an efficient, self-sustained valuation management process, as it helps to eliminate manual touch points, increase speed, reduce human error, and more effectively manage compliance.

EVO-Res™, Global DMS’ next-generation appraisal management software, provides this key ingredient by offering state-of-the-art technological advances that not only automates the entire real estate appraisal process, it allows users to work the way they need to work via a role-based design – complete with separate dashboards and task lists that help drive optimal performance, facilitate timely communications, and ensure full compliance at all points of the process. 

With EVO-Res, the burdensome and costly valuation process that credit unions have contended with can now be executed flawlessly through automation, which stands behind decades of integrated best practices. This innovative technology also empowers credit unions with a technological advantage through its unique configurability, which allows them to tailor all aspects of the software and its functionality according to their exact business model and appraisal-related needs – no development intervention required.

In addition, the platform’s numerous features—including its digital forms, custom reporting, and robust appraisal reviews—combined with its powerful workflow automation mean credit unions no longer have to operate additional modules or other software in conjunction with their appraisal management software, thus achieving a streamlined process that saves time and money.

For more information on this award winning platform, or to see a quick demo, contact Global DMS® today at evoinfo@globaldms.com.

 

Topics: appraisal technology, Vendor Management, collateral management, Global DMS, technology, Compliance, residential mortgage industry, appraisal forms, mortgage software, Appraisal Process Management, Credit Union, EVO