The real estate appraisal industry in 2021 can best be described as dynamic. Keeping up with the pace of change and responding to rising housing costs, a shrinking housing market and everchanging health and safety mandates kept lenders on their toes. It often felt as one challenge was resolved, three more surfaced. As we pauseRead more
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In a recent survey conducted by Forbes, 78% of representatives of large banks and lenders say streamlined, automated processes at scale will transform and disrupt the mortgage industry. It’s becoming increasingly clear that real estate appraisal management platforms can transform how banks, credit unions, loan servicers and mortgage lenders order, review, manage and analyzeRead more
Using multiple websites, applications, and other tools to manage the appraisal process across multiple appraisers and AMCs adds time-consuming and unnecessary overhead. Think about all of the different processes and systems used to order, track, manage, report, and pay a vendor or vendors for a single appraisal. Now extrapolate that across all of theRead more
Eighty-one percent of executives polled in the Forbes Insights Survey, “Digital Mortgages: How Lenders are Harnessing Tech To Streamline Processes, Cut Costs and Improve Customer Experience,” say they are aggressively (40%) or very aggressively (41%) pursuing mortgage process digitization. Appraisal management is a growing focus for process automation. Investing in appraisal management technology canRead more
If you’re frustrated by your appraisal management process, you’re not alone. Lenders often cite the appraisal process as one of the least predictable and least automated steps of the loan process. There are many reasons for this, but a big factor is whether or not you have the right appraisal management technology platform.Read more
The days of tracking real estate appraisal assignment, fees, appointment dates, completed appraisal report, etc. in spreadsheets and emails are over. Lenders who manage their own appraisals and property valuation – or ones who use a hybrid model of in-house and outsourced appraisers – need a technology platform that facilitates and tracks the communication betweenRead more
Appraisal management is often overly complex. Outdated processes and technologies add unnecessary administrative overhead and result in miscommunication and compliance risk. With multiple internal, external and client stakeholders involved in the appraisal process, clear communication and efficiency are a must. Appraisal management workflow automation has become a necessity for lenders – but many struggle withRead more
We are excited to announce that the AppraisalWorks appraisal management platform is now available through the ICE Mortgage Technology™ Platform — empowering lenders to drive greater quality and efficiency in the loan origination process, standardize vendor interactions, and enhance the borrower experience.Read more