RealEC Technologies Inc., a provider of collaborative network solutions majority-owned by Lender Processing Services Inc., has recently signed five new lender clients, including AmTrust Bank and Flagstar Bank, that will use the company's appraisal management solution, which is fully compliant with the Home Valuation Code of Conduct (HVCC).
Using RealEC's appraisal management solution ensures lenders' readiness for the May 1, 2009, effective date for compliance with the HVCC, RealEC says.
RealEC's appraisal management solution offers lenders an appraisal ordering and processing solution, including a stand-alone or integrated order placement portal, existing data connections to all national appraisal firms, appraisal software packages, quality control processes and access to thousands of independent appraisers, the company says.
‘RealEC's HVCC-compliant appraisal management suite has allowed Flagstar Bank to quickly take the necessary steps to meet the requirements of the HVCC,’ says Marni Scott, senior vice president at Flagstar. ‘We believe our selection of RealEC also positions our business well to make any needed adjustments as the market continues to evolve.’
SOURCE: RealEC Technologies