Appraisal reviews are an essential component of the valuation management process – ensuring both accuracy and compliance. However, most software platforms only allow you to complete these reviews on the backend, leaving lenders in the dark as to what is being flagged on their appraisals.
This gives you little control over your appraisal reports upfront, and leads to longer turn-times due to inaccuracies that could have been caught and corrected in the moment.
eTrac’s MARS® (Mismo Appraisal Review System) provides the upfront quality control (QC) you’ve been looking for, letting you see the exact areas your team needs to shore up in real-time. This not only improves the overall quality of your appraisal reports prior to submission, but also lessens the amount of time that your loans spend in underwriting.
MARS allows lenders to control their own compliance—even when they use AMCs—because they immediately know the areas of their appraisals that have been flagged. And with eTrac’s unique workflow automation, these upfront reviews can be done automatically for every loan.
For more information on how MARS can improve your valuation review process, contact us today at firstname.lastname@example.org.
MARS is Global DMS’ proprietary automated review system that analyzes an appraisal in real-time for completeness, compliance, and consistency with GSE guidelines, USPAP, UAD, and industry best practices to significantly reduce an underwriter’s time spent on the collateral review process.