How transparent are your appraisal management and title services vendors? Our survey of the market showed that most lenders say not good – and they want better.
Mortgage loans, home equity loans and HELOCs are complex and have a lot of moving parts, especially with the increase in regulatory overhead. Banks, credit unions and other real estate lenders are always looking for ways to shorten the loan cycle and lower the cost per loan – but not at the risk of getting out of compliance. It’s a fine balance and one that requires transparency into each phase of the loan cycle. Transparency is critical in order to identify potential roadblocks, gain insight into areas for process improvement, monitor service provider performance and manage borrower expectations on loan status.
Accurate Group is doing its part to help lenders and servicers with this challenge by releasing a new interface for its Archer® managed services platform – one we hope will raise the bar for outsourced service provider selection in the mortgage lending industry.
With the release of our new responsive user interface, which we announced today, the Accurate Archer appraisal management and title services platform delivers a level of transparency that is unprecedented in the real estate finance industry.
The platform gives banks, mortgage lenders and credit unions on-demand access to analytics and insight into revision rates, turnaround time, quality control and compliance. Smart process flow technology and built-in compliance rules accelerate turnaround times while also ensuring regulatory compliance. The interface also facilitates delivery of title and appraisal information using the most current MISMO-based datasets.
In addition, lenders will benefit from the platform’s new responsive interface design, which will enable them to quickly and easily submit, monitor and track property appraisal and title requests nationwide from any mobile device or web browser. A version of the new interface designed specifically for appraisers will also be rolled out to Accurate Group’s extensive network of real estate appraisers.
Key highlights of the new Accurate Archer managed services interface include:
- User configurable Dashcards that provide real-time information on key metrics, including open orders, upcoming orders due, orders past due, turnaround time, revision rates, lender action required, property owner action required, and more
- Mapping technology that enables users to quickly identify details on each property location and do heat map analysis on regional appraisal demand
- Real-time reporting and analytics capabilities that enable lenders and servicers to generate tables, charts and graphs based on user-defined variables, view aggregate trending data and gain greater insight into their overall appraisal management function
- Unprecedented transparency into service level agreement (SLA) status and estimated delivery dates, giving lenders the ability to actively monitor Accurate Group’s performance as an outsourced service provider
Real estate lending and servicing is a complex business that requires accurate, timely property valuations and title information as well as advanced knowledge of related regulatory compliance guidelines. Our latest release of the Accurate Archer managed services platform is designed to help our clients gain on-demand insight into critical information across all aspects of the appraisal management and title services function – from order generation to delivery cycles to trends over time. Accurate Group is leading the market in delivering next-generation technology that enables lenders, servicers and appraisers to transform how they manage real estate appraisals and title information, resulting in improved cycle times, better compliance, lower costs per loan and a more profitable business.
Don’t settle for service providers who fall short on delivering the transparency you need. Contact Accurate Group today for a demonstration of our new appraisal management and title services interface.
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