EVO Decreases Appraisal Turn-Times for Credit Unions, Promoting Efficient Originations

EVO Decreases Appraisal Turn-Times for Credit Unions, Promoting Efficient OriginationsMost credit unions understand the importance of modernizing their various processes to help meet the demand of today’s digital consumer, especially as COVID-19 continues to hinder in-person gatherings and normal operations.

This modernization effort 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 real estate appraisal processes – leading to delays, increased risk, higher costs, and worst of all, disgruntled members.

In order to compete in today’s market, credit unions must rely on a next-gen appraisal management technology that provides a configurable, workflow-driven valuation process based on automation. This is the key ingredient for an efficient, self-sustained appraisal management process, as it helps to eliminate manual touch points, increase speed, reduce human error, and more effectively manage compliance.

EVO™, Global DMS’ innovative appraisal management software, provides this key ingredient by offering state-of-the-art technological advances that not only automate the entire appraisal process, they allow users to work the way they need to work via a role-based design – complete with custom dashboards and task lists that help drive optimal performance, facilitate timely communications, and ensure full compliance

EVO empowers credit unions with a technological advantage through its unique configurability, which allows them to customize all aspects of the software (including fields) according to their exact business model and appraisal-related needs – no IT required.

In addition, the platform’s numerous features—including its digital forms, custom reporting, and robust appraisal reviews—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, AVMs, Appraisal Process Management, Credit Union, Commercial, EVO