As low interest rates continue to spike applications for both purchase mortgages and refinances, many industry participants have begun to feel the crunch that such large volumes can have on one’s processes – especially with real estate valuations. Though it’s true that appraiser attrition remains a key issue that’s creating longer turn-times, next generation valuation management technologies can help both lenders and AMCs bridge the gap to better manage these larger volumes through both innovative tools and workflow automation that promote a fully digital process.
Remote Inspection Technology:
A next-gen appraisal management software will provide lenders and AMCs with a secure and efficient method for conducting remote real estate inspections via innovative mobile apps, which allow the home occupant to take and submit the required pictures of the subject property from their phone or tablet. These apps also include pre-set questions for the home occupant about the quality, condition, and unique characteristics of their home – promoting timely, yet socially-distant valuations.
AVMs Provide Alternative Method That’s Proven:
An appraisal management technology should always ensure that lenders and AMCs have the data they need when they need it by providing direct access to proven AVM products – such as those from Black Knight® and Collateral Analytics™. These products are designed to deliver accurate, timely, and cost-effective property value information right from the comfort of home or the office, helping to quickly validate and/or complete appraisal reports.
Configurable Workflow Automation, Forms, and Reporting:
Best practice advises lenders and AMCs to implement a configurable appraisal management technology that provides a workflow-driven process through automation – eliminating manual touch points, increasing speed, and more effectively managing compliance. With a couple clicks of the mouse, lenders and AMCs can instantly customize these systems to their exact needs, including its fields, digital forms, and reports. This modern approach also saves and easily tracks their custom forms throughout the process, while providing effective reporting that captures every field and action taken within the system.
Global DMS’ EVO appraisal management software provides state-of-the-art functionality that not only automates the entire real estate appraisal process, it empowers mortgage lenders and AMCs with a technological advantage over every other platform on the market via its unprecedented configurability, which allows them to easily customize all aspects of the system and its workflow automation down to the field level.
- Integrated with ProxyPics’ mobile app, providing remote inspections via secure photo sharing.
- Provides digital forms that can be easily customized, saved, and updated in minutes.
- Promotes complete visibility with custom reporting that captures every field and action taken.
- Unique Marketplace provides direct access to industry leading AVMs.
For more information about this award-winning appraisal management platform, contact Global DMS® today at firstname.lastname@example.org.