Automated Quality Control vs. Manual Quality Control

Is one better than the other or is the winning formula a combination of both?

With the mortgage environment constantly evolving, quality control has become very important for compliant and successful lending practices.   The need to evaluate procedures is necessary to keep from facing scrutiny over regulations.

Automated Quality Control

Valuation management tools are being utilized more and more in the mortgage industry to automatically review standard client requirements.  These platforms are convenient to use to define specific client review rules which allow reviewers to concentrate on key areas of the appraisal and not be concerned with checked boxes.  Valuation management platforms can ensure essential compliance standards, such as conformance with the Uniform Appraisal Dataset (UAD) standards, the Uniform Collateral Data Portal (UCDP) hard stops.  Having an option for an automated review is crucial for companies to provide complete, compliant, and credible products.

Manual Quality Control

There will always be a need to have human eyes reviewing an appraisal.  It is necessary to ensure that the reviewers have the appropriate skills and experience to perform quality control reviews.  With clients ever changing requirements to the smallest of appraisal comments, it is hard to keep an automated system specific enough to find these things.

The automated systems help to find the basic human errors while the manual review can conform to particulars needed for the individuals.

In summary, there is no system better than the other, but a joint effort between man and computer to keep a quality control department up to date and competitive in the industry is the way Nationwide Appraisal Network intends to win the quality control game.

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