Upgrades AppraisalComply to Enable Lenders to Work More Efficiently with Their Appraisers
Mortgage technology provider SharperLending LLC has enhanced the AppraisalComply product with a new feature that helps lenders and their appraisers work more efficiently together.
AppraisalComply is a secure, cost-effective technology solution for lenders to work with their trusted local appraisers to accelerate the appraisal process and comply with Dodd-Frank changes to TILA Reg Z, Interagency Appraisal and Evaluation Guidelines, and all other appraisal regulations.
With a recent technology update, appraisers can now request a price increase from their lender after a price has been agreed upon and set. This negotiating feature solves common real-world problems that appraisers and lenders both encounter when appraisers identify jobs that are larger in scale than originally outlined and agreed upon. Lenders still have control of their costs in that the lender must approve price increases that the appraiser requests.
Appraisers and lenders are now better connected and can realistically converse about orders and costs during the development of the appraisal, says Dave Black, President and CEO of SharperLending, the company behind the Appraisal Firewall technology. Appraisal Firewall enables better lender to appraiser interaction which speeds up the production process for lenders and helps ensure appraisers get customary and reasonable fees.