Appraisal Services Address Collateral Underwriter

By March 2, 2015Fannie Mae
Appraisal Services Address Collateral UnderwriterRecent appraisal service provider activity

Feb. 27, 2015

By AIMEE L. BROWN Mortgage Daily

Compliance with Collateral Underwriter is among several valuation solutions recently addressed through technology upgrades and company-to-company data integrations.On Jan. 14, a la mode inc.-subsidiary Mercury Network announced its Appraisal Quality Management System would integrate with Platinum Data Solutions’ appraisal quality tool, RealView.

Through this integration, Mercury Network says its customers can access RealView from their main appraisal management platform.

About a week later, Platinum Data gave notice that the company had updated, a free appraisal tool developed for residential real estate appraisers.

With the update, automatic screenings for Fannie Mae’s Collateral Underwriter findings, which includes 17 of 21 “hard stops,” would be possible. According to Platinum Data, over 5,000 appraisers, in addition to several AMCs and lenders, have used the appraisal quality tool since its September launch last year.

Speaking of, Bradford Technologies Inc. made a Feb. 17 announcement that touted integration of its appraisal technology ClickFORMS with the Platinum Data tool. The subsequent integration would allow to automatically review ClickFORMS-prepared appraisals.

The AMC Nationwide Appraisal Network said, in a January-released company statement, it was ready to handle Fannie’s Collateral Underwriter changes. As a result, Nationwide Appraisal noted its software changes would provide virtual buckets for collecting data such as new risk scoring and Fannie Mae findings.

The software upgrades also included a warning and a hard stop feature that would open as a pop-up window, which could handle any necessary correction requests.

On the West Coast, LRES — a technology provider, asset manager and property valuator out of Orange, Calif. — gave notice of its new website in February. According to the news brief, the website would be more user-friendly, provide industry information and detail products and services.

As part of its growth strategy, appraisal management company Valuation Partners LLC recently promoted Mark Lyons to senior vice president, corporate sales and development. It also promoted, Clint Reinhardt to Lyon’s former post, senior vice president, national sales and marketing manager.

As well, the Sugar Land, Texas-based firm hired former Sierra Pacific Mortgage regional sales manager Robert Gans to fill Reinhardt’s previous position, vice president, national account executive.

“The promotions of Mark and Clint, along with the hiring of Bob, will go a long way to further our growth,” Bill Fall, chief executive officer of Valuation Partners, said in a Jan. 27 media statement. “All three men bring valuable sales and mortgage experience to Valuation Partners, and I’m confident they will be instrumental in our success.”

“Reprinted with Permission – Copyright © 2015 Mortgage Daily”

ERROR: 5 - Didn't receive 200 OK from remote server. (HTTP/1.1 400 Bad Request)