Several appraisal service providers have either stepped up their own technology or aligned with other mortgage technology providers to improve their valuation service offerings.
RealView has been enhanced with Platinum Comps, Platinum Data Solutions said in an Aug. 26 statement. The improved service analyzes, scores and ranks as many as 100 or more comparable properties and presents its findings in a color-coded report.
The suitability of each comparable property is scored on a 100-point scale by Platinum Comps, RealView said. In addition, comparable data is validated. Discrepancies between public and private data are highlighted in the report.
“One of the top reasons that lenders send appraisal reports back to appraisers and appraisal management companies is to request an explanation as to why the appraiser believes the comps used in the report are the most suitable,” the Aliso Viejo, Calif.-based company said.
A new version of AppraisalPort released last month improves the site’s aesthetics, FNC Inc. announced. The enhanced version, which FNC Managing Director Jon Fisher claims is “one of the more advanced sites you’ll see, definitely in our industry and I believe in the technology world in general,” promises a better and more responsive user experience.
FNC, which said the new version had been in development for nearly a year, noted it will impact “thousands” of users — including individual appraisers, appraisal firms and AMCs.
An Aug. 22 news release indicated that United States Appraisals’ proprietary software platform has been integrated into Ellie Mae Inc.’s Encompass management solution. The integration is intended to streamline and accelerate the appraisal for mutual clients of both companies.
Overland Park, Kan.-based United States Appraisal promises “consistently superior service even during peak volume periods and its credit card processing system delivers first-in-class speed and efficiency.”
Ellie Mae is a Mortgage Daily advertiser.
Veros Real Estate Solutions said last month that its VeroVALUE automated valuation model has been integrated into Calyx Software’s Point loan origination system.
Calyx Executive Vice President Dennis Boggs explained that the company’s AVM applies standard deviation where other AVM providers don’t — leading to as much as 30 percent more accurate values. (the original version of this story incorrectly identified Boggs as a Veros executive)
Calyx is also a Mortgage Daily advertiser.
Increased demand for AMCs prompted LRES to nearly double the size of its sales division. Word of the growth came barely a month after the Orange, Calif.-based company announced a strategy to give more intensive attention to new clients.
“Now that the mortgage market is in a healthier state, more small- to medium-sized lenders are seeking AMCs to create efficiencies within the appraisal process and maintain compliance and proper due diligence of appraisal staff and state and federal regulations,” LRES Chief Operating Officer Paul Abbamonto stated in the news release. “Our extended sales force will help deliver a smoother onboarding process to mitigate risk associated with today’s demanding regulatory environment.”
