The real estate appraisal process is an intricate web of numerous 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 often requires mortgage lenders to exit their LOS and visit an external website that can’t communicate with their origination system. Not only does this force lenders to rekey basic data from their LOS into this website, it promotes a completely manual process with little to no trackability – leading to staff confusion and costly errors.
The key to eliminating this common pain-point is to utilize an appraisal management technology that not only communicates directly with your LOS, but also provides the necessary functionality for today’s digital 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 power of EVO to effectively manage their real estate valuations via state-of-the-art technological advances that provide a completely digital process and automate one’s unique appraisal workflow according to their exact needs.
- 100% configurable solution, including fields – no custom development work required.
- User role-based design that configures your staff’s security access as defined by 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.
With EVO and Encompass, mortgage lenders are able to order appraisals and charge the borrower’s credit card directly from within the LOS without having to rekey any data. In addition, EVO 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.
For more info, or to schedule a quick demo, contact Global DMS® today at email@example.com.