In today’s market lenders need to be quick and agile, which includes adhering to TILA-RESPA Integrated Disclosure (TRID) rules, coupled with strong the motivation to complete deals and close on time. Under the TRID rule, lenders are bound by the fees represented on the Loan Estimate (LE). This often results in the lenders absorbing appraisal fee discrepancies or scrambling to quickly re-issue the LE.
SnapVal allows lenders to easily automate the insertion of the appraisal fee into the LE to expedite payment and enables the real-time ordering of appraisals directly from within their software system of choice.
Seamlessly integrated with loan origination systems (LOS), digital mortgage point-of-sale (POS) systems, borrower-facing web portals, and propriety lending or servicing platforms, SnapVal is an easy to use, swift and cost-effective integration.
Disclose accurate appraisal fees on the LE at first issuance that will launch you ahead of competitors.
Increase pull-through rates while elevating the borrower experience.
Get a guaranteed quote that will always be correct and will never have to be re-disclosed, saving you time and money.
SnapVal ensures TRID compliance while also preventing closing delays with simple and easy to use software that enables you to streamline processes and automate appraisal fees.
Lenders have several options to configure appraisal pricing including the lowest price provider, percentage allocation, or round-robin distribution. This helps hone pricing accuracy by taking into account key factors including region, appraiser availability, experience,
SnapVal integrates seamlessly with loan origination systems (LOS), digital mortgage point-of-sale (POS) systems, borrower-facing web portals and propriety lending or servicing platforms. Global DMS provides a configurable RESTful API web service that facilitates swift and cost-effective integrations.
SnapVal allows lenders to get a guaranteed quote that will always be correct and will never have to be re-disclosed. If you need to address this common problem in providing accurate appraisal quotes and ensuring pricing on the LE is consistent and compliant. We encourage you to take a look at SnapVal today!