In today’s ultra-competitive mortgage industry, businesses who fail to adapt and innovate are met with serious disadvantages, increased turn-times, and bad referrals.
Though many have been skeptical of digital technologies, especially in the real estate appraisal sector, these innovative tools are designed to be both exceptionally intuitive and powerful enough to support a completely automated workflow – reducing turn-times, decreasing costs, and ensuring happy clients.
When it comes to appraisals, we all know that appraiser attrition has led to delayed closings. A next-gen appraisal management technology helps bridge the gap, allowing mortgage lenders, credit unions, and AMCs to better manage their valuation workflows through innovative tools and workflow automation that promote a digital process.
One such technology is Global DMS’ award winning EVO® platform, which reduces turn-times through proven features and intelligent automation.
Automated Assignments & Inspection Scheduling:
EVO provides efficient auto-assignments of appraisers and reviewers via powerful AI technology that emulates your thought process via dynamic rule sets – ensuring only qualified candidates get selected. In addition, EVO’s Event Calendar provides automatic alerts to keep vendors on top of their orders.
Automated Reviews:
MARS®, a standard component of EVO, automates your appraisal reviews by quickly analyzing an appraisal for completeness, consistency, and compliance with all GSE guidelines, USPAP, UAD, and industry best-practice – providing accurate reviews in seconds. MARS also directs reviewers to the areas of the appraisal that need their attention most, with clear directives on a resolution.
Automated Delivery & ECOA Compliance:
EVO is seamlessly integrated with the GSEs’ UCDP® and FHA’s EAD portals, allowing users to automate the delivery of their appraisal reports to these entities. The platform also automatically retrieves and attaches the SSR report to an order, while logging and all relevant actions, communications, and reports. In addition, EVO ensures document delivery to the borrower by automatically sending an Appraisal Delivery email once the files are ready.
Automated Reporting:
EVO’s reporting capabilities provide complete visibility with both built-in and custom reports that are able capture data from any field within the system and its forms. Most importantly, these reports can be automated and instantly delivered during any point in one’s unique appraisal process to the appropriate personnel – ensuring the availability of critical information when it’s needed most.
Becoming more efficient starts with the right appraisal management technology. Contact Global DMS® today at evoinfo@globaldms.com to learn how EVO can reduce your valuation turn-times by 30%.