The real estate appraisal process, whether managed internally or outsourced to third-parties, typically involves a complex web of different players – including internal staff, external vendors, and of course, the borrower. As a result, managing this critical process has become far more cumbersome and time-consuming, especially as market conditions and compliance measures continue to evolve.
After last year’s historic loan volumes, it became apparent that attempting to manage everyone involved in the appraisal process through emails and offline spreadsheets was no longer viable for today’s fast-paced, digital mortgage environment, where borrowers and/or clients expect quick results and instant information.
The key to ensuring a cohesive appraisal workflow, with instant access to real-time information as its needed, is to utilize a next-gen appraisal management software that not only ensures compliance but simplifies the process for staff and/or vendors by facilitating and logging all actions and communications within one centralized platform – promoting organization and decreasing turn-times.
Global DMS’ EVO® appraisal management software provides this centralized management, streamlining a lender or AMC’s valuation process via AI powered automation that ensures timely communications and the correct documentation, while also simplifying the overall process for everyone involved with its role-based dashboards and task lists – preventing the cross-population of work.
Additional features include:
- Configurable user-permissions with strict hard-stops.
- No limitations on clients, vendors, or internal appraisers.
- Multiple user-types, including managers, processors, reviewers, engagers, appraisers, etc.
- Advanced auto-assignments, with cascading rule-sets that think like you would.
- Complete fee management, with tables based on zip-code and the service rendered.
- Automated invoicing, ensuring timely payments to vendors and/or from clients.
- Automated appraisal delivery to the borrower, ensuring ECOA compliance.
- Direct access to the EVO Network, a national database of vendors.
- Instantly logs every action taken, including communications, with automated reports.
EVO transforms your appraisal management process with a faster, more accurate, and safer solution that is completely self-customizable to your exact needs and business model without the need of IT or third-party development work – leading to 75% faster implementations.
For more information, contact Global DMS® today at evoinfo@globaldms.com.
