SPOKANE, Wash.--(BUSINESS WIRE)--Mortgage technology provider SharperLending LLC is pleased to announce a new real estate appraisal quality control software tool for mortgage lenders and Appraisal Management Companies. The Appraisal Report Comparison tool compares the original appraisal report with any subsequently delivered appraisal reports delivered on the same loan file that may be a result of revision requests or comparable disputes. The Appraisal Report Comparison saves lenders, AMCs, reviewers, appraisers, and underwriters countless hours reviewing appraisals when an appraiser delivers a subsequent appraisal. Additionally, it provides greater protection to lenders and speeds up the quality control process for AMCs.
The Appraisal Report Comparison allows lenders that are currently using the Appraisal Firewall real estate appraisal technology to take the originally delivered appraisal report, and the most recently delivered appraisal report, then scan each side by side for differences. All of the differences that are detected are highlighted line-by-line to make it obvious to the viewer what changed. Visit www.AppraisalFirewall.com/ARC to learn more, watch a video of how the tool works, and to request access to the Appraisal Report Comparison.
“According to our data, over 33% of delivered appraisals require some sort of revision by the appraiser,” says Dave Black, president and CEO of SharperLending LLC, the company behind the Appraisal Firewall technology. “The Appraisal Report Comparison eliminates the manual work of identifying disparities between the two files by automatically tracking, comparing, and displaying differences to ensure proper modifications were made and nothing unexpected is in the final deliverable.”
Companies that do not utilize the Appraisal Firewall technology can access the Appraisal Report Comparison. Especially for Appraisal Management Companies who perform extensive quality control work on appraisals that are delivered to them, the Appraisal Report Comparison can help increase the speed of the review process when they push appraisals back to the appraisers that do work for them. Companies can request access to the Appraisal Report Comparison by visiting www.AppraisalFirewall.com/ARC.
“We want to ensure that the quality control benefits provided by this tool are accessible to anyone with speed bumps in their QC process,” continues Black. “Companies such as AMCs do not need to be clients of ours to utilize this tool. All they need is the original appraisal, and any subsequently delivered appraisals, to run the comparison. They can then see any discrepancies in seconds, and respond accordingly based on the findings. By mining our copious amounts of data and combining these results with our technical expertise, we can increase value for lenders, AMCs, reviewers, underwriters, and other real estate appraisal professionals through effective and innovative utilization of technology.”
Appraisal Firewall is secure, web-based technology for lenders to manage their own appraisal process. It connects lenders directly to their appraisers and any AMCs they want to work with. Appraisal Firewall is the leading appraisal management software tool to increase process efficiency and to assist lenders in complying with all appraisal independence regulations. Appraisal Firewall is not an AMC, but provides technology to support the business of many AMCs.
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 two billion 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, visit www.AppraisalFirewall.com, watch the Youtube video, call (800)452-1174, or visit the Appraisal Report Comparison web site.