The real estate appraisal process is often an intricate web of moving parts and compliance requirements that’s traditionally riddled with manual processes, like managing emails, faxes, and Excel sheets – leading to inefficiencies and greater risk.
For example, a simple appraisal order usually requires mortgage lenders to exit their LOS and visit an external website that can’t communicate with their origination system – leading to duplicate data entry, little-to-no trackability, and the potential for costly errors.
The key to eliminating this common pain-point is to utilize an appraisal management software that not only communicates with your LOS, but also provides the necessary functionality for today’s mortgage environment that’s constantly evolving.
Global DMS’ EVO™ appraisal management software provides such plug and play integrations – including with Encompass®. Without having to leave Encompass, lenders are able to harness the full power of EVO to effectively manage their real estate valuations via state-of-the-art technological advances that provide a completely digital appraisal process and automate one’s unique workflow according to their exact needs.
EVO’s integration with Encompass also allows mortgage lenders to order appraisals and charge the borrower’s credit card directly from within the LOS (without having to rekey any data), and returns the completed appraisal report and the GSEs’ UCDP® Submission Summary Report (SSR) back to Encompass – with all relevant actions, communications, and reports documented and logged.
Additional benefits include:
- 100% configurable solution, including fields – no custom development work required.
- Role-based design that configures a user’s security access based on their job.
- Sound vendor management, with auto-assignments, fee tables, and DNU/Approved lists
- Virtual inspection capabilities that provide property photos from the current occupant.
- Digital order and review forms that can be customized, updated, and saved in minutes.
- Automated appraisal reviews that provide instant directives on a resolution.
- Complete visibility, with custom reporting that captures every field and action taken.
- Compliance Guarantee Program that protects your business from any discrepancies.
If you’re ready to take your appraisal management to the next level, contact Global DMS® today at firstname.lastname@example.org to schedule a quick demo.