The integration means lenders using Exchange can use DirectConnect to manage the valuation lifecycle, including the ability to access collateral valuation reports and supporting data in the MISMO industry-standard format as well as the proprietary format.
Through the portal, LRES says it can more effectively and efficiently manage the valuation process by aligning with lenders' specific workflow requirements.
The Exchange connects more than 17,000 mortgage lenders and service providers, allowing lenders to efficiently order products and services 24/7 through a secure, standards-based platform.
‘LRES DirectConnect's platform seamlessly configures to Exchange, offering lenders a highly efficient and transparent appraisal experience,’ says Bob Jennings, managing director of sales for RealEC Technologies. ‘As the industry requires better connectivity and collaboration to support new regulations, delivering an integrated solution to help improve efficiencies and meet compliance requirements is critical. We have a team dedicated solely to enhancing our technologies' ability to connect and collaborate with partners like LRES.’
‘LRES' integration with RealEC's advanced portal greatly benefits lenders by more efficiently enabling them to address specific workflow needs and keeping them fully abreast of the appraisal's status throughout the process,’ adds Roger Beane, CEO of LRES.