When Developing Appraisal Technologies, Experience is Crucial

When Developing Appraisal Technologies, Experience is CrucialThe real estate appraisal space has often been slow to adopt new technologies, where it typically takes a catastrophic event (like the housing crash of 2008) to get the attention of financial institutions and their vendors. Similar to the crash, COVID-19 presented unique challenges like never before, promoting the need for online valuation technologies that provide alternatives to on-site inspections.

However, when vetting different appraisal fintechs, it’s important for mortgage lenders, credit unions, appraisal management companies (AMCs), and appraisal firms to conduct sound due diligence of these software vendors to ensure they’re getting the best possible product with reliable customer support.

At Global DMS®, we’ve utilized our 22 years of experience working with various companies of all sizes to create sound implementation and customer support strategies that fit the different needs of our diverse clientele – providing quick adoption and efficient support as needed.

We’ve also taken this time to work and collaborate with our various clients when developing our latest technologies—like our EVO™ appraisal management platform—to produce software that yields true results by providing the functionality needed to meet today’s challenges and beyond.

EVO differentiates itself form other platforms by providing a wide-range of benefits and features, including:

  • 100% user-configurability, allowing for the creation and updating of fields, forms, reports, and more – no waiting on IT departments or third-party developers.
  • Customizable workflow automation that covers your specific process, reducing appraisal turn-times by up to 30%.
  • Best-in-class auto-assignments of vendors and reviewers, powered by artificial intelligence (AI) and advanced cascading decisioning technology.
  • Role-based design with configurable user-permissions that provide custom dashboards and task lists.
  • Lowers portfolio risk by instantly analyzing past appraisals and logging every action, including communications.
  • Provides complete visibility via built-in and custom reports, which can be run ad hoc or automatically during any point of the process.
  • Sound appraisal compliance – all backed by the industry’s only Compliance Guarantee Program.

To learn more about EVO, contact Global DMS today at evoinfo@globaldms.com.

 

Ready To Start Vetting Appraisal Fintechs, But Not Sure Where To Start?
If you’re looking for appraisal management software, but not sure where to begin, Global DMS has created a special whitepaper that addresses this critical process – providing best-practices for internal planning, external research, software implementation, and customer support.

Download Your Free Copy

 

 

Topics: Lenders, appraisal technology, Vendor Management, collateral management, Appraisers, AMCs, Mortgage Companies, Global DMS, technology, cloud computing, Compliance, mortgage software, Appraisal Process Management, Credit Union, EVO