We understand that technology plays a large role in our effectiveness as your vendor and increases our ability to make you and your operations a success. For an executive summary of our technology results for the past quarter, please review the dashboard below which summarizes the top 10 new enhancements to our appraisal management and title services technology, compliance activities and uptime statistics.
TOP 10: 2nd QTR ENHANCEMENTS TO THE ACCURATE ARCHER™ PLATFORM
Of the 35 enhancements Accurate Group implemented this quarter, these are our Top 10:
- Released ShowMyAppraisal.com which is a single source, time saving method for lenders to comply with the Reg B delivery requirements of appraisal and valuation products to their borrowers.
- Licensed the entire Accurate Archer platform suite to support the formation of a new joint venture.
- Deployed new interfaces for appraisal and title products with five lenders using RealEC and FNC as our routing partners.
- Achieved electronic interface provider certification from the largest mortgage lender in the US.
- Enhanced the Order Page on the Accurate Archer managed services portal. This enhancement allows the lender to easily import the standard FNMA 1003 loan application file which can be exported by most loan origination systems. Fields such as loan no, borrowers and property information will be populated from the imported file reducing redundant keying and making order placement easier.
- Completed multiple secure FTP interfaces with clients. This file transfer protocol automates the delivery of appraisals, valuation compliance reports, SSR, title products and images of recorded mortgages directly into lenders LOS or document repository system.
- Completed new interfaces with multiple lenders to automate the delivery and processing of mortgage recordings.
- Enhanced the Accurate Archer vendor module to enable tracking and reporting of diverse suppliers. This feature applies to all vendor classes including appraisal, title and closing.
- Added additional tax fields to the Accurate Archer tile vendor portal. This enhancement adds the ability for high volume outsourcing of real estate tax information using Accurate Group’s online community of title searchers. This is a community of vetted and experienced title professionals that have been certified as NEST experts.
- Enhanced the underlying infrastructure to ensure scalability and continued dependability of the rapidly growing Accurate ValueNet and Accurate Groundworks product lines.
The Accurate group has completed numerous client security questionnaires over the past quarter and we have seen a trend towards the use of the Standardized Information Gathering (SIG) questionnaire distributed by Shared Assessments.
“Shared Assessments was created in 2005 by leading financial institutions, the Big 4 accounting firms, and key service providers to inject standardization, consistency, speed, efficiency and cost savings into the vendor risk assessment process. These founding organizations saw the need for a standardized and objective vendor management assessment methodology that would help outsourcers meet regulatory and vendor risk management requirements while significantly reducing costs for all stakeholders.”
To provide consistency, speed, efficiency and cost savings to our security questionnaire responses we will provide our responses following the SIG format whenever possible.
For more information on recent technology upgrades or to learn how you can benefit from our appraisal management, title services, home equity and real estate lending compliance expertise, contact Accurate Group today.
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