EVO Simplifies Appraisal Reviews via Configurable Technology & Automation

EVO Simplifies Appraisal Reviews via Configurable Technology & AutomationIn 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.

  • 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 formats.

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.

Interested in a short demo? Contact Global DMS® today at evopreview@globaldms.com.

 

Topics: Lenders, appraisal technology, collateral management, AMCs, Mortgage Companies, Compliance, residential mortgage industry, MISMO, MARS, Appraisal Process Management, Credit Union, EVO