We’re here to help you improve the speed of your lending decision by providing a superior delivery experience for one of the more difficult products within the loan package – the appraisal. We do that by streamlining and speeding up the appraisal process. Our proprietary technology, which can be integrated with your loan origination system in only a few minutes, delivers a custom-tailored appraisal management solution with touchpoints delivered to you, your loan officers, your borrower and even your realtors. We’ll automate your paper-intensive reporting processes, deliver one of the industry’s fastest turn times, provide comprehensive, real-time reports and reduce your processing time and costs..
Appraisal Process and Delivery
Placing an order with us is simple. And, within seconds after receiving orders, our mapping software can identify the appropriate appraisers that are closest to the subject property. Orders are then assigned based on a variety of categories including due date. Our Appraisal Tracker system allows clients to view progress on each file. Status checkpoints can be sent out automatically to others involved in the order – loan officer, loan processor, borrower, buyer’s agent and selling agent. This improves overall efficiency of your staff minimizing status calls on appraisal assignments.
Because an appraisal is the cornerstone of every loan, quality is critical. American Reporting Company actively maintains a list of over 1,000 experience certified independent contracted appraisers throughout our service area.
When an appraisal is returned to American Reporting Company by one of our experienced contracted appraisers, a set of generally accepted appraisals rules is run automatically on each appraisal. If there are any revisions needed – the experienced contracted appraiser is notified during the uploading process.
Once the revisions have been addressed, the appraisal is accepted and uploaded via UCDP to FannieMae®/ FreddieMac®, or to FHA via EAD.
Before we deliver a final appraisal, we further assure quality - and regulatory compliance – through one of our certified, experienced in-house appraisers who perform a compliance review. The review encompasses and examines the UCDP/EAD findings, along with an additional rules set of checkpoints. Additionally, we encourage your compliance (underwriters/processors) staff to reach out to our staff of reviewers if they have any specific questions regarding the reviewed appraisal. This ensures that all questions are addressed in the appraisal, whether it came from an appraisal review or underwriter’s review of the appraisal report.