USRES, a provider of technology solutions to the real estate finance industry and developer of the RES.NET platform, has updated its valuations platform to enable customers to automatically order, route, track and complete origination and default valuation orders.
In addition, USRES has been named Flagstar Bank's approved appraisal management company (AMC).
‘For many years, USRES has been an appraisal management company of choice for top servicers, and we are now harnessing more than 20 years of expertise in valuations to provide a total quality control solution,’ says Keith Guenther, CEO of USRES and RES.NET. ‘The platform manages timelines, cost analysis, vendor/AMC compliance and valuation variances, eliminating the burden of time and labor-intensive due diligence. The introduction of these upgrades will result in USRES eliminating compliance concerns, as well as significantly increasing efficiency gains for our valuations clients.’
With the new features and functionality, users can now define automated routing rules – for example, the maximum number of assignments a vendor can accrue. The updated software also gives them complete visibility into each transaction, flagging items that need further attention.
What's more, the solution improves servicers' quality control and compliance efforts, reviewing vendors' licensing and insurance to ensure no fraudulent activity appears on any valuation.
Guenther says the new features deliver ‘new levels of connectivity and transparency to more easily manage activities and communication with all parties involved.’