SPOKANE, Wash.--(BUSINESS WIRE)--Mortgage technology provider SharperLending LLC has enhanced its Appraisal Firewall platform with new management tools that give lenders better control over the appraisers they work with. Appraisal Firewall now provides lenders with an interactive map of the United States and Puerto Rico to quickly identify coverage areas that they can use to manage appraisers they currently work with, and to research metrics on other appraisers they may want to add to their panel to extend or bolster service areas. Lenders can also use the map display to view AMCs they can utilize for out of area service.
The new interactive map enables lenders to take appropriate action to make sure they have quality appraisers they can work with by drilling down into state, county, and zip codes with a single click, plus lenders can filter their map view by appraiser qualifications (such as FHA-only). Lenders will see coverage areas that are strongest, those that are weakest, and add appraisers as needed. An exportable appraiser list is available that can be saved into an Excel spreadsheet for hardcopy.
"The key to our new coverage area management tool is that it gives lenders the ability to view appraiser information, and to take appropriate action right away based on the decisionable data we provide them with," says Dave Black, President and CEO of SharperLending LLC, the company behind the Appraisal Firewall technology. "This dual-purpose dashboard helps remove much of the frustration from the appraisal process for lenders on the origination side, and on the appraiser panel management side. We are giving lenders the tools they need at an enterprise level to control their appraiser panels efficiently, and within the bounds of all of the appraisal independence regulations to relieve compliance headaches."
Appraisal Firewall is a secure, web-based technology solution for lenders to manage their own appraisal process by working with their trusted local appraisers and AMCs in one system to achieve management-level control and multi-department efficiency. Appraisal Firewall helps lenders comply with all appraisal independence regulations, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, Interagency Appraisal and Evaluation Guidelines, internal and investor requirements, plus GSE requirements for lenders to submit UAD-compliant appraisals electronically to the UCDP. For more information on Appraisal Firewall, visit www.AppraisalFirewall.com.
About SharperLending, LLC
Headquartered in Spokane, Wash., SharperLending LLC, was founded in 1989 and was the first to offer a complete Web browser-based mortgage credit reporting system on the Internet. The company’s proven technology has processed more than 500 million secure mortgage transactions. SharperLending has been processing appraisals since the late 1990s, with Appraisal Firewall breaking out of the company’s settlement services technology into its own unique offering. SharperLending, LLC, has three divisions under its corporate umbrella: SharperLending Mortgage Services Division, the mortgage services and Appraisal Firewall platforms; SharperLending Credit Division, technology for the credit reporting industry; and SharperLending Solutions, the loan origination product packaging division. For more information, watch the Appraisal Firewall YouTube video, call (800)452-1174, or visit www.SharperLending.com.