Appraisal Scope, an appraisal tracking and management software provider, and Platinum Data Solutions, a provider of collateral valuation technology solutions, have recently integrated their flagship technologies.
This integration will allow Appraisal Scope users to access RealView, Platinum Data's appraisal quality technology, in a single click, directly from their Appraisal Scope software systems.
‘This integration is all about making quality ubiquitous among Appraisal Scope users,’ says Rich Sargo, vice president of Appraisal Scope. ‘Our focus is on making quality and compliance a given for every appraisal run through the Appraisal Scope system. Our integration with RealView is an integral part of that effort.’
Recently, the mortgage industry has become increasingly more focused on appraisal quality and compliance. The industry's most recent appraisal quality initiative is Collateral Underwriter (CU), the technology Fannie Mae will be using as of January 2015 to identify appraisals with higher risk.
‘A lot of lenders and [appraisal management companies (AMCs)] are concerned about how CU is going to affect their efficiency and bottom lines,’ says Phil Huff, CEO of Platinum Data Solutions.
‘RealView was made specifically for lenders and AMCs. That's why RealView saves time where CU can cause delays. Appraisal [quality control] technology is more important than ever, not just for lenders, but also [for] AMCs,’ Huff adds.
‘We anticipate a significant number of our customers to use RealView on every appraisal they transact,’ says Sargo.